Travel Support Services company Yatra Online announced Q2FY25 results Financial Highlights: Revenue Rs 2,364 million YoY growth: 151% EBITDA Rs 111 million YoY growth: 285% EBITDA Margin 12% PAT Rs 73 million YoY growth: 143% Busniess Highlights: For Q2-FY25, Yatra reported revenue of Rs 2,364 million, up 151% YoY, largely due to outperformance of our Hotels and Packages business and contribution from the MICE segment. The results for the quarter also include contribution from Globe All India Services Limited (Globe Travels) for 20 days of the quarter from September 11-30, 2024. Yatra continued to expand its corporate client base and closed 29 new corporate accounts during the quarter with billing potential of Rs 1,213 million. On September 11, 2024, Yatra completed the acquisition of Globe Travels for Rs 1,280 million in cash. This strategic acquisition brought approximately 360 new corporate clients, further strengthening Yatra’s leadership in India's corporate travel sector Yatra’s cash and cash equivalent and term deposit stands at Rs 2,129 million as on Q2FY25 compared to 6,441 million as on Q2FY24. Yatra’s gross debts stands at Rs 277 million as on Q2FY25 compared to Rs 1,742 million as on Q2FY24. Dhruv Shringi, Whole Time Director & Chief Executive Officer, said: “For the three months ended September 30, 2024, we reported strong growth both year over year and sequentially. Our Revenue grew 151% YoY to Rs 2,364 million, on account of strong growth in our Hotel and Packages and MICE (Meetings, Incentives, Conferences, and Exhibitions) businesses. Adjusted EBITDA at Rs 136 million for the quarter was up 29% year-over-year. Despite the challenges in the B2C air business, we continue to drive strong growth in our Hotels and MICE lines of business, which helped us more than offset the negative impact of the B2C air business. We also successfully completed the acquisition of Globe Travels and welcomed the Globe employees and customers to the Yatra family. Globe Travels' expertise in MICE complements our recent organic expansion in this segment, positioning Yatra as one of India's largest players in this segment. With minimal overlap in client portfolios, this acquisition diversifies our client base and enhances cross-selling opportunities for hotels and expense management services. Additionally, integrating our digital booking platform with Globe’s largely offline business is expected to drive synergies, operational efficiencies, and cost savings for our corporate clients. We are encouraged by the strong momentum across all metrics in our Corporate Travel business, underscored by our growth in new accounts and MICE capabilities. As we continue to navigate a dynamic market, our focus remains on executing our strategic priorities to reinforce our market leadership and drive long-term value for stakeholders.” Result PDF