Yatra(YTRA)2025-02-11 12:30Revenue and Profitability - Revenue for the three months ended December 31, 2024, reached INR 2,350.7 million (USD 27.5 million), representing a year-over-year increase of 111.4%[3] - Profit for the period was INR 39.8 million (USD 0.5 million), compared to a loss of INR 39.5 million (USD 0.5 million) for the same period in 2023, indicating a positive swing of INR 79.3 million (USD 0.9 million) year-over-year[9] - The company reported a total revenue of INR 2,350,740 thousand for the three months ended December 31, 2024, compared to INR 1,112,047 thousand for the same period in 2023, representing a growth of 111.1%[56] - Adjusted profit for the three months ended December 31, 2024, was INR 72,622 thousand, a significant increase from an adjusted loss of INR 16,372 thousand in the same period of 2023[51] - The total comprehensive profit for the period ended December 31, 2024, was INR 109,708 thousand, compared to a loss of INR 41,950 thousand in the same period of 2023[56] Adjusted EBITDA and Margins - Adjusted EBITDA surged 173.0% year-over-year to INR 121.5 million (USD 1.4 million), reflecting a disciplined focus on profitable growth and cost optimization[4] - Adjusted Margin from Air Ticketing decreased by 23.0% year-over-year to INR 857.6 million (USD 10.0 million) due to reduced volumes in the B2C segment[4] - Adjusted Margin from Hotels and Packages increased by 65.8% year-over-year to INR 438.0 million (USD 5.1 million), driven by the expansion of the MICE business[4] - Adjusted Margin increased by 4.2% to INR 72.8 million (USD 0.9 million) in Q4 2024, compared to INR 69.9 million (USD 0.8 million) in Q4 2023[24] - The company achieved an adjusted margin of INR 857,599 thousand in the Air Ticketing segment for the three months ended December 31, 2024, down from INR 1,114,395 thousand in the same period of 2023, indicating a decrease of 23.1%[52] Costs and Expenses - Service costs increased to INR 1,311.3 million (USD 15.3 million) in the quarter, driven by higher gross bookings in the Hotels and Packages segment[17] - Personnel expenses rose by 21.2% to INR 405.4 million (USD 4.7 million) in Q4 2024, up from INR 334.4 million (USD 3.9 million) in Q4 2023[28] - Marketing and sales promotion expenses increased by 9.4% to INR 114.1 million (USD 1.3 million) in Q4 2024, compared to INR 104.3 million (USD 1.2 million) in Q4 2023[29] - The service cost for the three months ended December 31, 2024, was INR 1,311,296 thousand, a significant increase from INR 273,628 thousand in the same period of 2023, reflecting a rise of 379.5%[56] Client Acquisition and Corporate Strategy - The company onboarded 50 new corporate clients in the quarter, adding an annual billing potential of INR 2,804 million (USD 32.2 million)[5] - The company is focused on simplifying its legal and corporate structure to streamline administrative overheads and facilitate growth[7] - The company anticipates sustained margin expansion and growth opportunities in the Indian travel market, driven by strategic M&A opportunities and operational simplifications[53] - The company is focused on integrating artificial intelligence and machine learning to enhance operational efficiencies and improve competitive positioning in the market[53] Acquisitions and Investments - The acquisition of Globe All India Services Limited (GAISL) for INR 1,280.0 million (USD 15.3 million) is progressing ahead of schedule, with early synergies being realized[6] - The company acquired 100% of GAISL for a cash consideration of INR 1,280 million, resulting in goodwill of INR 1,215.5 million[57] Cash Flow and Financial Position - As of December 31, 2024, cash and cash equivalents and term deposits totaled INR 1,895.3 million (USD 22.2 million), with working capital debt reduced to INR Nil[40] - Cash and cash equivalents at the end of the period decreased from INR 1,741,950 thousand to INR 621,576 thousand, a decline of 64.3%[61] - The company generated net cash flows from operating activities of INR 58,999 thousand for the nine months ended December 31, 2024, compared to a net cash outflow of INR 1,359,490 thousand in the same period of 2023[61] Operational Performance - Total Gross Bookings for the quarter were INR 17,997.1 million (USD 210.4 million), reflecting a decrease of 3.4% year-over-year[9] - Air passengers booked decreased by 20.8% from 1,659 in Q3 2023 to 1,314 in Q3 2024[63] - Gross bookings for air ticketing fell from INR 16,096,263 thousand to INR 13,828,120 thousand, a decline of 14.1% year-over-year[63] - Adjusted margin for air ticketing decreased from 6.9% to 6.2% for the three months ended December 31, 2024[63] Equity and Liabilities - Total assets decreased from INR 12,489,765 thousand to INR 12,374,017 thousand, a decline of approximately 0.9%[57] - Total equity attributable to equity holders of the company decreased from INR 5,388,473 thousand to INR 5,328,925 thousand, a decline of 1.1%[57] - Total liabilities decreased from INR 4,729,493 thousand to INR 4,598,386 thousand, a decline of approximately 2.8%[57]