Yatra Online Inc. disclosed its unaudited financial results for the quarter ended September 30, 2025, reporting revenue of INR 3,508.7 million (≈ $39.5 million) and Adjusted EBITDA of INR 211,985 thousand (≈ $2.4 million). Revenue grew 48.5% year‑over‑year, while Adjusted EBITDA surged 217.7% YoY, reflecting a sharp improvement in operating leverage and margin expansion across the company’s high‑margin segments.
The growth was largely driven by the corporate travel and MICE (Meetings, Incentives, Conferences, and Exhibitions) businesses. Corporate travel added 34 new clients during the quarter, creating an annual billing potential of INR 2,615 million (≈ $29.5 million). The Hotels & Packages segment posted a 43% YoY increase in gross bookings and a 74% rise in gross margin, underscoring the company’s ability to capture higher‑margin revenue from accommodation and bundled travel services. In contrast, air ticketing passenger volumes fell 3.5% YoY, a modest decline that was offset by the stronger performance of the other segments.
Net profit for the quarter reached INR 98.8 million (≈ $1.1 million), and earnings per share were $0.00, matching the consensus estimate of $0.00. The company’s ability to turn a profit after a loss in the prior year demonstrates effective cost control and a favorable shift in the revenue mix toward higher‑margin offerings.
CEO Dhruv Shringi highlighted that “the quarter’s results confirm the company’s strategy of scaling high‑margin segments and deepening technology capabilities.” He added that the integration of Globe Travels has delivered supplier synergies and cross‑selling opportunities, further strengthening Yatra’s market position. Shringi also noted that while margin pressures in B2C air ticketing persist, the diversified revenue mix has mitigated the impact of declining passenger volumes.
Looking ahead, Yatra’s management remains focused on expanding its corporate and MICE portfolios, investing in technology to enhance the booking experience, and leveraging the synergies from recent acquisitions. The company’s strong earnings momentum and improved profitability position it well to navigate ongoing industry headwinds while capitalizing on the rebound in business travel demand.
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