Online travel company, Yatra.com has reported a loss of Rs 83.02 crore for the quarter ended March 31, 2017 (Q4-FY17). Losses for the same quarter last year were Rs 34.77 crore. However, the company reported revenues of Rs 242.95 crore million during the quarter, which was up by 18% from Rs 205.82 crore in the same quarter last year. It posted Rs 520 crore revenue less service cost for the fiscal 2017. Yatra also revised its revenue less service cost guidance of 30% to 35% growth for the fiscal year ending March 31, 2018.
Hotels and Packages
Revenue from the Hotels and Packages business increased by 5.6% to Rs 125.33 crore for the period, up from Rs 118.7 crore for the same period last year. The company said that this growth was due to an increase in its Gross Bookings by 10.1% to Rs 260 crores, along with an increase in Net Revenue Margin to 11.3% during the three months ended March 31, 2017 as compared to 9.9% in Q416. The increase in Net Revenue Margin is due to change in business mix and higher margins as negotiated from the suppliers, the company said.
Standalone Hotel Room Nights Booked were 0.4 million, representing an increase of 53.7% YOY while Packages Passengers Travelled were approximately 33,000, representing an increase of 6.6% YOY.
Air Ticketing: Revenue from the Air Ticketing business increased by 34.5% to Rs 101.12 crore in Q4 as compared to Rs 75.15 crore in Q4 16. The company said that this growth was driven by an increase in gross bookings by 36.4% to Rs 1650 crore for Q4-FY17, from Rs 1210 crore in the same quarter last year.
Gross Air Passengers Booked were 1.8 million representing year-over-year (YOY) growth of 22.5%.
Other revenue: Other revenue grew by 56.1% to Rs 136.1 million in the quarter from Rs 87.2 million in Q416. The growth in this segment was mainly due to an increase in advertisement revenue and facilitation fees
Yatra.com listed on NASDAQ and trades under the name YTRA in July last year, following a reverse-merger with a listed company, called “Terrapin 3 Acquisition Corporation”. The company currently claims to provide bookings for more than 61,000 hotels in India and more than 500,000 hotels around the world. It was the second OTA to get listed after MakeMyTrip and currently claims to be second largest in India.
Note that MakeMyTrip, which is Yatra’s biggest rival , had raised $330 million in a fresh round of funding, by private placement of shares and issuing fresh stock to existing investors Ctrip and Naspers. For the quarter ended December 31, 2016 (Q3 FY17), the company posted revenues of $123.2 million, an increase of 38.6% from $88.9 million in the same quarter last year. Net profit stood at $16.6 million compared to the net loss of $19.5 million in the same quarter. This was due to one-time finance income of $28.52 million because of the merger with ibibo. The company will announce its Q4 results on May 19.