Yatra’s net profit in Q1 FY25 fell about 27% from INR 5.57 Cr in the preceding March quarter
Revenue from operations declined 9% YoY and 6% QoQ to INR 100.8 Cr
Yatra also announced a scheme of amalgamation to merge six of its wholly owned subsidiaries with itself
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Online travel aggregator (OTA) Yatra’s consolidated net profit declined 32.5% to INR 4.04 Cr. In the first quarter of the ongoing fiscal year (Q1 FY25) from INR 5.99 Cr in the year-ago quarter.
On a sequential basis, profit declined about 27% from INR 5.57 Cr.
The jump in top line came even as operating revenue declined both on an annual and sequential basis. Revenue stood at INR 100.80 Cr in Q1 FY25, down 8.5% year-on-year (YoY) and 6.3% quarter-on-quarter (QoQ).
Unlike its B2C-focussed competitors such as MakeMyTrip, ixigo and EaseMyTrip, Yatra primarily caters to B2E and B2B2C customers. It has also been diversifying its product mix to cater to a wide variety of business clients.
In June, the OTA bought the remaining 45% stake in adventure tourism-focussed platform Adventure and Nature Network Private Limited (ANN) in an all cash deal for INR 98 Lakhs. Earlier this year, it also launched an expense management solution to help global and domestic enterprises manage their businesses.
How Yatra Spent In Q1?
The travel tech startup managed to trim its expenses by a small degree in Q1 FY25 on the back of reduced spending on marketing, payment gateway charges and servicing costs. However, employee benefit expenses continued to loom heavily.
Total expenses stood at INR 104.75 Cr in Q1 FY25, down 0.5% from INR 105.3 Cr in the year-ago quarter. On a sequential basis, expenditure declined 7% from INR 113.67 Cr in Q4 FY24.
Employee Benefit Costs: Workforce-related expenses jumped 29% to INR 33.7 Cr in Q1 FY25 from INR 26.1 Cr in the year-ago period.
Service Costs: Expenses under this head declined more than 5% YoY to INR 20.3 Cr in the quarter ended June 2024.
Other Expenses: Yatra also saw its other expenditure rise more than 14% to INR 22.9 Cr during the quarter under review from INR 19.9 Cr in Q1 FY24.
In a filing with the bourses, Yatra also announced a scheme of amalgamation to merge six of its wholly owned subsidiaries with itself.
Ahead of the earnings announcement, shares of Yatra Online closed 6.12% higher at INR 137.90 on the BSE on Monday (August 12). The company declared the quarterly results after market hours.
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