Online travel company, Yatra.com’s losses narrowed down to Rs 4.83 crore for the quarter ended June 2017 (Q1-FY18) from a loss of Rs 83.02 crore in the previous quarter. Losses for the same quarter last year were Rs 8.09 crore.
However, the company’s overall revenue grew by 15.3% YoY to Rs 302.92 crore during the quarter. Total Revenues were also up by 13.3% QoQ from Rs 262.63 crore in Q4FY17. It posted Rs 163.4 crore in revenue (less service cost) for the quarter ended June 2017, which is up by 33.8% YoY.
On the acquisition of ATB
Yatra also revised its revenue (less service cost) guidance to 35% to 40% for the fiscal year 2018 (FY18) from the earlier guidance of 30% to 35%. The company’s Co-Founder and CEO Dhruv Shringi said that the company raised revenue guidance for FY18 after its acquisition of Air Travel Bureau Ltd in July. Yatra added that the acquisition will allow it to grow its revenue organically.
“The combined entity of Yatra and ATB now has the potential to access a captive consumer base of over 4.0 million people who are employed in the over 650 large and medium scale enterprise customers that the entity will service,” Shrigi added.
Hotels and Packages
- Revenue: The Hotels and Packages business increased by 38.8% YoY to Rs 43.84 crore for the period, from Rs 31.58 crore in the same period last year. Net Revenue Margin stood at 13% during the quarter.
- Gross Bookings: The total amount paid by hotel/package customers for travel services booked via Yatra stood at Rs 337.1 crore for the quarter. Gross bookings increased by 16.4% YoY from Rs 289.64 crore.
- Mobile booking: Mobile traffic incoming to Yatra’s website grew significantly during Q1FY18 and during this quarter, 73% of all traffic came from mobile devices. The company said that it expects to see this metric grow due to declining mobile data costs.
- Standalone room nights: The number of nights spent by the company’s customers (Room Nights) on its hotel listings was at 0.5 million in Q1FY18, up by 70.5% YoY. The company claims to have 65,000 properties on its homestay and domestic hotel segment in India.
- –Revenue: The air/flight ticket booking business generated revenues of Rs 106.32 crore, up 25.6% YoY from Rs 84.6 crore revenue in the same quarter last year. Net Revenue Margin was at 6.1% during Q1FY18.
- – Gross Bookings: The total amount paid by Yatra customers for air tickets stood at Rs 1735.58 crore, up 25.8% YoY from Rs 1380.16 crore. The company said that growth in Air ticketing segment was mostly driven by growth in B2C and corporate segment, which was partially offset by lower growth in B2B.
Other Financials and Metrics
- App installs: The company claims that organic mobile app downloads crossed the 10 million mark in Q1FY18; during the quarter, it added over 1 million new installs.
- Other revenue: Other revenue grew by 123% YoY to Rs 13.2 crore in the quarter from Rs 5.9 crore in Q1FY17.
- Adjusted EBITDA was at INR 610.4 million (Loss). In the same quarter last year, EBITDA was positive at Rs 1.3 crore.