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Yatra Online, Inc. Announces Results for the Three Months Ended June 30, 2018

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Yatra Online, Inc. Announces Results for the Three Months Ended June 30, 2018

PR Newswire

GURGAON, India and NEW YORK, Aug. 17, 2018 /PRNewswire/ --

Yatra Online, Inc. (NASDAQ:YTRA) (OTCQX:YTROF), India's leading online travel company, today announced its unaudited financial and operating results for the three months ended June 30, 2018.

Yatra_Logo

"We delivered another quarter of robust growth while also delivering a meaningful reduction in our adjusted EBITDA loss through a combination of efficiency in our consumer promotions and reduction in our operating costs. The integration of Air Travel Bureau Limited ("ATB") continues on track and we are beginning to realize the initial cost synergies, the full impact of which will be reflected in  subsequent quarters. The macro environment of the Indian aviation industry is facing some headwinds on account of rising oil prices and weakening currency; however, we remain confident that our multichannel approach will enable us to deliver over 20% growth in Adjusted revenue in the current year as well, with a meaningful improvement in our adjusted EBITDA," said Dhruv Shringi, Co-founder and CEO.

Yatra Online, Inc.'s financial and operating results for the three months ended June 30, 2018, include 100% of the financial and operating results of ATB, in which we acquired a majority stake on August 4, 2017.

Financial and operating highlights for the three months ended June 30, 2018:

  • Revenue reached INR 2.8 billion (USD 0.04 billion).
  • Total Gross Bookings (Air Ticketing and Hotels and Packages) (3) reached INR 28.4 billion (USD 0.4 billion) representing YOY growth of 37.1%.
  • Adjusted Revenue(1) increased to INR 2,040.3 million (USD 29.8 million), representing an increase of 24.8%. Adjusted Revenue represents revenue less service costs.
  • Adjusted Revenue(1) from Hotels and Packages increased to INR 528.1 million (USD 7.7 million), representing an increase of 20.5% YOY.
  • Standalone Hotel Room Nights Booked during the quarter were 0.6 million, representing an increase of 23.5% YOY.
  • Adjusted Revenue (1) from Air Ticketing increased to INR 1,254.7 million (USD 18.3 million), an increase of 18.0% YOY.
  • Gross Air Passengers Booked were 2.4 million representing YOY growth of 26.3%.
  • Adjusted EBITDA (2) Loss of INR 407.2 million (USD 5.9 million) representing a YOY decrease of 33.3%.
  • Loss for the period of INR 311.7 million (USD 4.6 million).

 




Three months ended June 30,







2017


2018


2018


YOY Change




INR


INR


USD


%

(In thousands except percentages)





Financial Summary as per IFRS








Revenue



30,27,071


28,39,701


41,479



Results from operations

-9,70,580


-7,05,381


-10,304



Loss for the period


-31,25,933


-3,11,744


-4,553



Financial Summary as per non-IFRS measures







Adjusted Revenue 1

16,34,421


20,40,275


29,802


24.80%

Air Ticketing


10,63,288


12,54,656


18,327


18.00%

    Hotels and Packages

4,38,462


5,28,131


7,714


20.50%

Others (Including Other Income)

1,32,671


2,57,488


3,761


94.10%

Adjusted EBITDA 2


-6,10,351


-4,07,181


-5,948


33.30%

Operating Metrics









Gross Bookings 3


2,07,26,975


2,84,26,106


4,15,222


37.10%

Air Ticketing


1,73,55,888


2,43,40,003


3,55,536


40.20%

Hotels and Packages

33,71,087


40,86,103


59,686


21.20%

Net Revenue Margin% 4








Air Ticketing


6.10%


5.20%





Hotels and Packages


13.00%


12.90%





Quantitative details 5








Air Passengers Booked

1,873


2,366




26.30%

Stand-alone Hotel Room Nights Booked

469


579




23.50%

Packages Passengers Travelled

54


50




-6.60%














 


Unaudited Pro Forma comparison Three months ended June 30,


2017


2018


YOY Change


Pro Forma


Pro Forma


YOY Change

 2017*

 2018*

(in thousands except percentages)

INR


INR


%


INR


INR


%

Adjusted Revenue(1)

16,34,421


20,40,275


24.80%


8,48,211


13,03,110


53.60%

Air Ticketing

10,63,288


12,54,656


18.00%


6,27,087


8,68,127


38.40%

Hotels and Packages

4,38,462


5,28,131


20.50%


1,39,764


2,05,317


46.90%

____________________________________

* Pro Forma figures are after the adjustments required under the new revenue recognition standard IFRS 15 adopted since April 1, 2018

Note:

(1)     Adjusted Revenue represents revenue and other income after deducting service costs and adding back expenses related to consumer promotions and loyalty program costs that had been reduced from revenue due to the adoption of new accounting standard, IFRS 15, effective from April 1, 2018. See section "Certain Non-IFRS Measures."

(2)     See section "Certain Non-IFRS Measures."

(3)     Gross Bookings represent the total amount paid by our customers for travel services and products booked through us, including taxes, fees and other charges, and are net of cancellation fees and refunds.

(4)     Net Revenue Margin is defined as Adjusted Revenue as a percentage of Gross Booking.

(5)     Quantitative details are considered on a gross basis.

 

About Yatra Online, Inc and Yatra Online Pvt Ltd

Yatra Online, Inc is the parent company of Yatra Online Pvt Ltd which is based in Gurugram, India and is one of India's leading online travel companies and operates the website Yatra.com. The company provides information, pricing, availability, and booking facility 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. As a leading platform of accommodation options, Yatra provides real-time bookings for more than 92,000 hotels in India and over 800,000 hotels around the world.

Customers can access Yatra in multiple ways: through a user-friendly website, mobile optimised WAP site and applications, a multi-lingual call centre, a countrywide network of Holiday Lounges and Yatra Travel Express stores.

Launched in August 2006, Yatra was ranked the Most Trusted e-Commerce Travel Brand in India in the Economic Times Brand Equity Survey 2016 for the second successive year, and has won the National Tourism Award for 'Best Domestic Tour Operator (Rest of India)' at the India Tourism Awards held in September 2017 for the third time in a row.

Safe Harbor Statement:

This press release contains certain statements concerning the Company's future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the Company's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "intend," "will," "project," "seek," "should" and similar expressions. Such statements include, among other things, management's beliefs as well as our strategic and operational plans. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the slow-down of economic growth in India and the global economic downturn, general declines or disruptions in the travel industry, volatility in the trading price of our shares, our reliance on our relationships with travel suppliers and strategic alliances, failure to further increase our brand recognition to obtain new business partners and consumers, failure to compete against new and existing competitors, failure to successfully manage current growth and potential future growth, risks associated with any strategic investments or acquisitions, seasonality in the travel industry in India and overseas, failure to successfully develop our corporate travel business, damage to or failure of our infrastructure and technology, loss of services of our key executives, and inflation in India and in other countries. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this press release is provided as of the date of issuance of this press release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For further information, please contact::
Manish Hemrajani
Yatra Online, Inc.
VP, Head Investor Relations
manish.hemrajani@yatra.com

 

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SOURCE Yatra Online, Inc.

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