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Yatra losses increase to Rs 77.74 crore as marketing and personnel expenses mount

Online travel company, Yatra.com posted losses Rs 77.74 crore for the quarter ended September 2017 (Q2FY18). Losses at the company expanded from Rs 4.83 crore in the preceding quarter and from Rs 41.9 crore in the same quarter last year.

Total revenues at the company stood at Rs 257.53 for the quarter increasing 33% from Rs 193.62 crore in the same quarter last year. Sequentially, total revenues stood decreased 14.98% from Rs 302.92 crore. Revenue Less Service Cost
increased to Rs 1,68.98 million, representing an increase of 46.1% year-on-year (YoY).

Yatra’s EBITDA loss for the quarter was at Rs 28.85 crore compared to the EBITDA loss of Rs 32.82 crore in the same quarter last year.

Hotels and Packages

  • Revenue: The Hotels and Packages business (less service cost) increased by 42.3% YoY to Rs 32.01crore for the period, from Rs 22.49 crore in the same period last year. Net Revenue Margin stood at 11.6% during the quarter.
  •  Gross Bookings: The total amount paid by hotel/package customers for travel services booked via Yatra stood at Rs 275.6 crore for the quarter. Gross bookings increased by 25.5% YoY from Rs 219.56 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 443,000 in Q2FY18, up by 47.7% YoY.

Air Ticketing

  • Revenue: The air/flight ticket booking business generated revenues (less of service cost) of Rs 120 crore, up 40.3% YoY from Rs 85.57crore revenue in the same quarter last year. Net Revenue Margin was at 6.3% during Q2FY18.
  • Gross Bookings: The total amount paid by Yatra customers for air tickets stood at Rs 1914.93 crore, up 40.2% YoY from Rs 1342.36 crore. The company said that the growth was driven by the acquisition of Air Travel Bureau.
  • Air passengers booked in the quarter stood at 2.19 million an increase of 31.7% from 1.66 million in Q2FY18.

Marketing costs

Marketing and sales promotion expenses increased by 52.4% to Rs 82.78 core in Q2FY18 from Rs 54.33 crore in the three months ended September 30, 2016 primarily on account of increases due to marketing campaigns with Yatra’s new brand ambassador on TV and print media, consumer promotions and loyalty incentive programs and the impact of consolidation of Air Travel Bureau.

Personnel costs

Personnel expenses increased by 86.2% to Rs 71.47 crore in the quarter from Rs 38.38 crore in Q2FY17. The increase was primarily on account of consolidation of Air Travel Bureau and an increase in employee share-based payment expense to Rs 18.38 crore in Q2FY18 from Rs 27 lakh in Q2FY17.

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