Internet Software and Services company Yatra Online announced Q1FY24 results: Financial Performance: - Yatra Online reported consolidated revenue of Rs 1,102 million in Q1FY24, representing a growth of 24% YoY. - The company's EBITDA for the quarter was Rs 177 million, showing a YoY growth of 28%. The EBITDA margin stood at 16%, an increase of 47 basis points YoY. - Net profit for Q1FY24 was Rs 60 million, reflecting a YoY growth of 3%. Operational Highlights: - Yatra witnessed its strongest quarter on the air front since the COVID-19 pandemic, with the highest number of air passengers booked since December 2019, up 41.5% YoY. - The company signed 19 new corporate customer accounts in the corporate business segment, with an annual billing potential of Rs 1,510 million, reinforcing its leadership in the corporate travel sector. - Yatra experienced a 6% sequential growth in domestic passenger traffic, outpacing India's domestic passenger traffic growth, indicating strong market share gains in both consumer and corporate businesses. - Revenue from the hotels and packages business recorded Rs 448 million, a YoY increase of 17.6%, driven by the recovery in domestic travel and the addition of new distribution partners. - Yatra launched its Yatra Prime offering in the consumer business during the quarter, which received encouraging initial signups and positive responses. Yatra Prime provides various benefits, such as zero convenience fees, exclusive fares, and priority access to VIP customer support. Dhruv Shringi, Whole Time Director & CEO, Yatra Online, said, "We started FY24, on a strong footing on the Air front with the highest number of Air Passengers booked since pre-COVID, up 41.5% YoY far outpacing India's domestic air passenger industry growth of 14.8% YoY clearly demonstrating our ability to gain market share and the strength of the Yatra brand. We further fortified our leadership in the corporate travel sector by signing 19 new corporate customer accounts in the June quarter in our corporate business with an annual billing potential of Rs 1,510 Mn underlining the capabilities and leadership of our Corporate Travel SaaS platform. As we move forward, we remain optimistic and committed to leveraging these positive trends to drive further growth and success." Result PDF