Yatra Online Limited — Investor Meet, 18-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Yatra Online delivered strong Q1 FY26 results, driven by its strategic shift to corporate travel. Revenue less service cost rose 44% YoY to INR115.6 Cr, with Profit After Tax (PAT) surging 300% to INR16 Cr. Adjusted EBITDA was up 138% YoY to INR24.9 Cr, achieving a 21% margin. This profitability growth was achieved despite B2C headwinds, partly due to optimized discounting and higher-margin corporate business.

Yatra onboarded 34 new corporate clients, adding INR200 Cr annual billing potential. Air gross margins improved to 4.60%, and Hotels & Packages gross margins expanded to 9.05%. The company launched its AI assistant 'DIYA' for customer service and personalized search, aiming for operational efficiency. Management remains confident in achieving its 20% gross margin and 30% adjusted EBITDA growth guidance, targeting further margin expansion and gross booking growth.