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Yatra Online, Inc. Announces Results for the Three Months Ended December 31, 2018
[January 31, 2019]

Yatra Online, Inc. Announces Results for the Three Months Ended December 31, 2018


GURUGRAM, India and NEW YORK, Jan. 31, 2019 /PRNewswire/ --Yatra Online, Inc. (NASDAQ: YTRA) (OTCQX: YTROF), India's leading online travel company, today announced its unaudited financial and operating results for the three months ended December 31, 2018.

Yatra Logo

"This was a significant quarter for us. We showed substantial progress towards our goal of achieving EBITDA break-even, delivering a 48 percent improvement in our Results from Operations and a 60 percent improvement in our Adjusted EBITDA loss. This was done on the back of proactive steps such as optimizing our marketing cost, driving up our cross-sell revenues, closing some loss-making accounts in our corporate customer portfolio, outsourcing our call-center, and closing our physical retail stores - all of which should lead to better structural profitability as we continue to drive growth across all our businesses. On the business travel front, we believe the recent acquisition of the corporate travel business of PL Worldways, and new customer wins like India's third largest bank, will enable us to continue to strengthen our market leadership position in the country. In addition, we expect the Indian travel industry to experience healthy growth in 2019 as some of the macro headwinds facing the aviation industry in mid-2018 seem to have abated. We are reiterating our guidance of 20+ percent growth in Adjusted Revenue for FY19 and a meaningful improvement in our Adjusted EBITDA loss for the fiscal year," — Dhruv Shringi, Co-founder and CEO.

Financial and operating highlights for the three months ended December 31, 2018:

  • Revenue reached INR 2,204.7 million (USD 31.7 million).
  • Adjusted Revenue(1) increased to INR 2,331.3 million (USD 33.5 million), representing an increase of 16.6% YOY.
  • Adjusted Revenue(1) from Hotels and Packages increased to INR 483.2  million (USD 6.9 million), representing an increase of 10.5% YOY.
  • Adjusted Revenue(1) from Air Ticketing increased to INR 1,448.1 million (USD 20.8 million), representing an increase of 5.7% YOY.
  • Total Gross Bookings (Air Ticketing and Hotels and Packages)(3) reached INR 26.4 billion (USD 0.4 billion), representing YOY growth of 10.3%.
  • Standalone Hotel Room Nights Booked during the quarter were 0.6 million, representing an increase of 19.2% YOY.
  • Gross Air Passengers booked were 2.5 million, representing YOY growth of 7.8%.
  • Adjusted EBITDA(2) Loss of INR 154.3 million (USD 2.2 million) representing a 60.3% improvement YOY.
  • Profit for the period of INR 137.5 million (USD 2.0 million).

 







Three months ended December 31,


YOY




2017


2018


2018


Change


(in thousands except percentages)


INR


INR


USD


%


Financial Summary as per IFRS










Revenue


3,360,443


2,204,740


31,686


(34.4)%


Results from operations


(631,750)


(325,920)


(4,684)


(48.4)%


Profit for the period


232,311


137,512


1,976


(40.8)%


Financial Summary as per non-IFRS measures










Adjusted Revenue (1)


1,999,507


2,331,315


33,506


16.6%


Air Ticketing


1,370,398


1,448,079


20,812


5.7%


Hotels and Packages


437,340


483,167


6,944


10.5%


Others (Including Other Income)


191,769


400,069


5,750


108.6%


Adjusted EBITDA (2)


(388,255)


(154,313)


(2,218)


60.3%


Operating Metrics










Gross Bookings (3)


23,936,731


26,399,571


379,413


10.3%


Air Ticketing


20,448,781


23,189,808


333,283


13.4%


Hotels and Packages


3,487,950


3,209,763


46,131


(8.0)%


Net Revenue Margin% (4)










Air Ticketing


6.7%


6.2%






Hotels and Packages


12.5%


15.1%






Quantitative details (5)










Air Passengers Booked


2,308


2,487




7.8%


Stand-alone Hotel Room Nights Booked


504


600




19.2%


Packages Passengers Travelled


46


29




(36.0)%


Note:

(1) Adjusted Revenue represents revenue and other income after deducting service costs and adding back expenses related to consumer promotions and loyalty program costs that had been reduced from revenue due to the adoption of new accounting standard, IFRS 15, effective from April 1, 2018. See the section titled "Certain Non-IFRS Measures" in our 6K filing with the SEC of even date.

(2) See the section "Certain Non-IFRS Measures" in our 6K filing with the SEC of even date.

(3) Gross Bookings represent the total amount paid by our customers for travel services and products booked through us, including taxes, fees and other charges, and are net of cancellation fees and refunds.

(4) Revenue Margin is defined as Adjusted Revenue as a percentage of Gross Booking.

(5) Quantitative details are considered on a gross basis.


Safe Harbor Statement

This earnings release contains certain statements concerning the Company's future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "seem," "should" and similar expressions. Such statements include, among other things, management's beliefs as well as our strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of our shares, our reliance on our relationships with travel suppliers and strategic alliances, failure to further increase our brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop our corporate travel business, damage to or failure of our infrastructure and technology, loss of services of our key executives, and inflation in India and in other countries. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this earnings release is provided as of the date of issuance of this earnings release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Yatra Online, Inc.

Yatra Online, Inc. is the parent company of Yatra Online Pvt. Ltd. which is based in Gurugram, India, and is India's leading Corporate Travel services provider, with over 800 corporate customers, and one of India's leading online travel companies. Yatra operates the website Yatra.com and provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs,

homestays and cruises. As a leading platform of accommodation options, Yatra provides real-time bookings for more than 100,000 hotels in India and over 1,000,000 hotels around the world.

Launched in August 2006, Yatra was ranked the Most Trusted E-Commerce Travel Brand in India in the Economic Times Brand Equity Survey 2016 for a second successive year, and won the National Tourism Award for 'Best Domestic Tour Operator (Rest of India)' at the India Tourism Awards held in September 2017 for a third successive year.

For more information, please contact:

Manish Hemrajani
Yatra Online, Inc.
VP, Corporate Development and Investor Relations
+1-646-875-8380
manish.hemrajani@yatra.com

Cision View original content:http://www.prnewswire.com/news-releases/yatra-online-inc-announces-results-for-the-three-months-ended-december-31-2018-300787406.html

SOURCE Yatra Online, Inc.


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