Yatra Q3 Profit Skyrockets 845% To INR 10 Cr

Online travel aggregator Yatra’s consolidated profit after tax (PAT) skyrocketed 845% to INR 10 Cr in the December quarter of the fiscal year 2024-25 (Q3 FY25) from INR 1.05 Cr in the year-ago period, led by robust growth in its hotels and packages business.

On a quarter-on-quarter basis, PAT grew 37% from INR 7.34 Cr.

Founded in 2006 by  Dhruv Shringi, Manish Amin and Sabina Chopra, Yatra offers information, pricing, availability, and booking facilities 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.

Unlike its competitors EaseMyTrip, ixigo and MakeMyTrip, which focus on B2C customers, Yatra targets B2E and B2B2C customers.

The company’s EBITDA jumped 207% year-on-year to INR 14.6 Cr in the third quarter of FY25.

The corporate travel services provider saw its operating revenue zoom 113% to INR 235.25 Cr in Q3 FY25 from INR 110.34 Cr in the year-ago quarter. Sequentially, operating revenue fell marginally by 0.4% from INR 236.40 Cr.

Including other income of INR 6.04 Cr, Yatra’s total revenue stood at INR 241.30 Cr in the third quarter of the ongoing fiscal year, up 102% from INR 119.20 Cr in the corresponding quarter last year.

Yatra cofounder and CEO Shringi said the corporate travel business continued to be a key growth driver. The company onboarded 50 new corporate clients in Q3 FY25—a quarterly record—with a billing potential of about INR 280 Cr.

In September last year, Yatra acquired Globe All India Services Limited (Globe Travels) for INR 128 Cr in an all-cash deal. The company said then that the acquisition of Globe Travels would add 350 new corporate clients to its existing customer base, taking the total tally of corporate customers to 1,200.

“Following our successful acquisition of Globe All India Services Limited, the integration efforts are progressing ahead of schedule, and we are already seeing early synergies, particularly in supplier consolidation, operational streamlining, and technology adoption,” said Shringi.

Yatra’s cash and cash equivalent and term deposits stood at INR 182.8 Cr as on December 31, 2024.

Shares of Yatra gained momentum following the company’s strong Q3 performance, surging over 6% in morning trade today (February 11) to reach the day’s high of INR 99.30 apiece on the BSE.

Segment Revenue

Yatra’s air ticketing business contributed INR 46.39 Cr to the company’s operating revenue in Q3 FY25, a growth of 12% from INR 41.54 Cr in the year-ago quarter. Sequentially, operating revenue from this vertical grew 8% from INR 42.96 Cr.

On the other hand, the hotels and packages segment’s revenue zoomed over 3.73X to INR 166.08 Cr during the quarter under review from INR 44.50 Cr in the December quarter last year. However, sequentially, revenue from this vertical declined 2.5% from INR 170.37 Cr.

Revenue from other services declined, albeit marginally, to INR 7.11 Cr in Q3 FY25 from INR 7.36 Cr in the year-ago quarter. On a QoQ basis, the business reported a 25% decline in revenue from INR 9.46 Cr.

Where Did Yatra Spend In Q3?

The surge in revenue outpaced the rise in expenditure for the listed OTA. Overall expenses went up 98% to INR 231.23 Cr in Q3 FY25 from INR 117 Cr in the year-ago quarter. However, the company managed to bring down its costs by 2.4% from INR 236.96 Cr on a sequential basis.

Service Cost: The spending under this expense head surged 387% to INR 131.13 Cr in the quarter ended December 2024 from INR 26.90 Cr in the year-ago period. However, this spending declined 8% QoQ from INR 142.77 Cr.

Employee Cost: Yatra’s employee benefit expenses rose 21% YoY and 9% QoQ to INR 38.96 Cr during the quarter under review.

Marketing & Sales Promotion Expenses: The company spent INR 11.40 Cr under this bucket in Q3 FY25, up 6% from 10.73 Cr in the same quarter last year. Sequentially, this spending declined marginally from INR 11.66 Cr in the preceding September quarter.

Payment Gateway Charges: The listed OTA platform spent INR 10 Cr on payment gateway charges during the quarter under review, down 21% from INR 12.72 Cr spent in this bracket in the year-ago period.