Yatra Online, Inc. Announces Results for the Three Months Ended September 30, 2017
GURGAON, India and NEW YORK, November 14, 2017 /PRNewswire/ --
Yatra Online, Inc. (NASDAQ: YTRA) (OTCQX: YTROF), India's leading online travel company, today announced its unaudited financial and operating results for three months ended September 30, 2017.
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Commenting on the performance, Dhruv Shringi, Yatra's Co-founder and CEO, said, "The symbiotic relationship between our consumer direct business and corporate travel business enabled us to deliver our highest quarterly growth in our history as a public company with improving economics - our Revenue less Service Cost grew 46.1% YoY while our adjusted EBITDA improved by over 50% sequentially. The acquisition of Air Travel Bureau ('ATB'), one of India's largest independent corporate travel companies during the quarter enabled us to create India's largest corporate travel platform with over 660 large customers. ATB for the moment continues to operate as an independent entity and we expect further growth and improved operating leverage once the ATB business is fully integrated."
Yatra Online, Inc.'s financial and operating results for the three months ended September 30, 2017, include the financial and operating results of Air Travel Bureau Limited for two months in which we acquired a majority ownership stake on August 4, 2017.
Financial and Operating highlights for the three months ended September 30, 2017:
- Revenue increased by 33% year-over-year (YOY) to INR 2,575.3 million.
- Revenue Less Service Cost[1] increased to INR 1,689.8 million, representing an increase of 46.1% YOY.
- Revenue Less Service Cost[1] from Hotels and Packages increased to INR 320.1 million, an increase of 42.3% YOY.
- Standalone Hotel Room Nights Booked during the quarter of 0.4 million, represented an increase of 47.7% YOY.
- Revenue Less Service Cost[1] from Air Ticketing increased to INR 1,200.1 million, an increase of 40.3% YOY
- Gross Air Passengers Booked were 2.2 million representing YOY growth of 31.7%.
- Total Gross Bookings (Air Ticketing and Hotels and Packages) [3] reached INR 21.9 billion representing YOY growth of 40.2%.
- Adjusted EBITDA[2] Loss of INR 288.5 million, an improvement of 12.1% YOY
Three months ended September 30,
2017 2017 2016 YOY Change
Unaudited
(in thousands except
percentages) INR USD INR %
Financial Summary as
per IFRS
Revenue 2,575,327 39,438 1,936,172 33.0%
Results from
operations (575,357) (8,811) (394,298) 45.9%
Loss for the period (777,431) (11,906) (411,900)
Financial Summary as
per non-IFRS measures
Revenue Less Service
Costs [1] 1,689,804 25,877 1,156,778 46.1%
Air Ticketing 1,200,146 18,379 855,704 40.3%
Hotels and Packages 320,076 4,902 224,946 42.3%
Other 169,582 2,596 76,128 122.8%
Adjusted EBITDA [2] (288,470) (4,418) (328,217) 12.1%
Operating Metrics
Gross Bookings [3] 21,905,258 335,456 15,619,316 40.2%
Air Ticketing 19,149,305 29,3251 13,423,566 42.7%
Hotels and Packages 2,755,953 42,205 2,195,750 25.5%
Net Revenue Margin%
[4]
Air Ticketing 6.3% 6.4%
Hotels and Packages 11.6% 10.2%
Quantitative details
[5]
Air Passengers Booked 2,187 1,660 31.7%
Stand-alone Hotel Room
Nights Booked 443 300 47.7%
Packages Passengers
Travelled 32 26 23.1%
Note:
- Revenue Less Service Cost represents Revenue after deducting service costs. See "Certain Non-IFRS Measures"
- See section "Certain Non-IFRS Measures"
- 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.
- Net Revenue Margin is defined as Revenue Less Service Cost as a percentage of Gross Booking.
- Quantitative details are considered on a gross basis.
More details are available on our site - http://investors.yatra.com/home/default.aspx
About Yatra Online, Inc. and Yatra.com
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 70,000 hotels in India and over 500,000 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
+1-646-875-8380
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