Yatra(US:YTRA)2023-11-17 12:30Revenue and Bookings - Revenue for the quarter ended September 30, 2023, was reported at INR 947.6 million (USD 11.4 million), up 14.0% YoY from INR 831.4 million (USD 10.0 million) in the same period last year[3][16]. - Total Gross Bookings for the quarter were INR 17,520.3 million (USD 210.9 million), reflecting a 10.2% increase YoY[3][12]. - Revenue from Other Services increased to INR 45.5 million (USD 0.5 million) in Q3 2023, up from INR 34.6 million (USD 0.4 million) in Q3 2022[23][26]. - Gross Bookings for Air Ticketing rose from $13.2 billion in the first half of 2022 to $14.8 billion in the first half of 2023, an increase of 11.9%[66]. - Total Gross Bookings increased from $15.9 billion in Q3 2022 to $17.5 billion in Q3 2023, reflecting a growth of 10.3%[66]. - Total Gross Bookings for the first half of 2023 reached $37.4 billion, up from $33.8 billion in the first half of 2022, marking an increase of 10.3%[66]. Passenger and Service Metrics - Air Passengers booked increased by 31.2% YoY, reaching 1,660 passengers compared to 1,266 passengers in the previous year[3][12]. - Air Passengers Booked increased from 1,266,000 in Q3 2022 to 1,660,000 in Q3 2023, representing a growth of 31%[66]. - Stand-alone Hotel Room Nights Booked increased from 412,000 in Q3 2022 to 440,000 in Q3 2023, a growth of 6.8%[66]. Financial Performance - Loss for the period was INR 272.9 million (USD 3.3 million), compared to a loss of INR 71.2 million (USD 0.9 million) in the same quarter of 2022, marking an increase in loss by INR 201.6 million (USD 2.4 million) YoY[3][12]. - Adjusted EBITDA for the quarter was INR 34.9 million (USD 0.4 million), a decrease of 55.1% YoY from INR 77.7 million (USD 0.9 million) in the previous year[3][12]. - The adjusted loss for the period was INR 97,385 thousand for Q3 2023, compared to an adjusted loss of INR 28,397 thousand in Q3 2022, indicating a significant increase in losses[53]. - The company reported a loss before taxes of INR 263,244 thousand for Q3 2023, compared to a loss of INR 62,493 thousand in Q3 2022, indicating a worsening financial position[58]. - The company reported a total comprehensive loss for the six months ended September 30, 2023, was INR 311,945 thousand, compared to INR 111,158 thousand in the same period of 2022, indicating a significant increase in overall losses[58]. Margins and Expenses - Adjusted Margin from Air Ticketing decreased by 4.8% YoY to INR 1,018.3 million (USD 12.3 million) from INR 1,069.7 million (USD 12.9 million) in the prior year[3][20]. - Adjusted Margin from Hotels and Packages increased by 15.6% YoY to INR 278.3 million (USD 3.3 million) from INR 240.7 million (USD 2.9 million) in the same quarter last year[3][22]. - Adjusted Margin for Air Ticketing decreased slightly from 8.1% in Q3 2022 to 6.9% in Q3 2023[66]. - Adjusted Margin for Hotels and Packages remained stable at 12.7% in Q3 2023 compared to 12.4% in Q3 2022[66]. - Adjusted Margin for Other Services improved from 5.5% in Q3 2022 to 8.8% in Q3 2023[66]. - Personnel expenses increased by 34.3% to INR 386.3 million (USD 4.7 million) for the three months ended September 30, 2023, compared to INR 287.6 million (USD 3.5 million) in the same period of 2022[28]. - Marketing and Sales Promotion Expenses rose by 51.7% to INR 123.3 million (USD 1.5 million) in Q3 2023 from INR 81.3 million (USD 1.0 million) in Q3 2022[29]. - Other operating expenses decreased by 5.5% to INR 369.0 million (USD 4.4 million) in Q3 2023, down from INR 390.7 million (USD 4.7 million) in Q3 2022[30]. Shareholder and Corporate Actions - The company successfully completed an IPO raising INR 7,750 million, which will support strategic growth and technology advancements[4][12]. - The Board authorized a share repurchase of up to $5 million, representing approximately 5% of Yatra Online, Inc's market capitalization[6][15]. Assets and Liabilities - As of September 30, 2023, cash and cash equivalents and term deposits totaled INR 7,174.4 million (USD 86.4 million)[42]. - As of September 30, 2023, total assets increased to INR 13,904,081 (USD 167,357) from INR 6,765,083 (USD 81,000) as of March 31, 2023, reflecting a significant growth in asset base[60]. - Cash and cash equivalents at the end of the period rose to INR 4,797,149 (USD 57,741), up from INR 289,376 (USD 3,500) at the beginning of the period[64]. - Total equity attributable to equity holders of the company increased to INR 5,718,119 (USD 68,826) as of September 30, 2023, from INR 707,695 (USD 8,500) as of April 1, 2023[62]. - The accumulated deficit decreased to INR 15,012,193 (USD 180,696) as of September 30, 2023, from INR 19,921,095 (USD 240,000) as of April 1, 2023[62]. - The total current liabilities decreased to INR 5,775,200 (USD 69,000) as of September 30, 2023, from INR 5,775,200 (USD 69,000) as of March 31, 2023[61]. - The company’s total non-current liabilities increased to INR 500,603 (USD 6,025) as of September 30, 2023, from INR 270,564 (USD 3,300) as of March 31, 2023[60]. Employee Compensation - Employee share-based compensation costs increased to INR 107,256 thousand in Q3 2023 from INR 36,531 thousand in Q3 2022, reflecting a rise of approximately 194%[53].