Yatra Online Limited — Updates, 12-11-2024: Press Release

Yatra Online Limited reported remarkable financial growth, with revenues reaching INR 2,364 million, marking a 151% year-over-year increase. EBITDA soared to INR 111 million, a 285% jump, while net profit was up 143% to INR 73 million. This surge is largely attributed to exceptional performance in the Hotels and Packages division, along with contributions from the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, particularly following the acquisition of Globe All India Services Limited for INR 1,280 million in cash, which added significant corporate clientele.

The company closed 29 new corporate accounts with a potential billing of INR 1,213 million. Despite facing challenges in the B2C air business, Yatra has successfully strengthened its corporate travel services, enhancing cross-selling opportunities and operational efficiencies through the integration of Globe Travels. Cash reserves stood at INR 2,129 million with reduced debt of INR 277 million. Yatra’s strategic initiatives position it well for continued positive momentum and growth in the corporate travel market.