Gurugram-based online travel company Yatra announced its unaudited financial and operating results for the three months ended September 30, 2018.
These financials further include 100% of the financial and operating results of Air Travel Bureau (ATB), in which Yatra acquired a majority stake on August 4, 2017.
The travel company saw adjusted revenues rise to ₹209.61 crore in Q2 FY19, up by 23.7% from ₹169.4 crore during the corresponding period last year.
Talking about the financials, Dhruv Shringi, Co-Founder and CEO, Yatra, said, “Our multi-channel approach enabled us to deliver another quarter of strong growth with a reduction in our Adjusted EBITDA(2) loss in the quarter. Our consumer business and our business travel platform both continue to deliver strong Adjusted Revenue(1) growth while a combination of improved efficiency on our marketing spends and optimisation of our cost base helped us reduce our Adjusted EBITDA(2) loss.
He further added, “The integration of the Air Travel Bureau Limited (“ATB”) acquisition continues on track and we expect about half of ATB’s customers to migrate onto the Yatra platform by the end of the year. We remain confident of our ability to meet our fiscal year growth objectives and deliver a meaningful year over year reduction in our Adjusted EBITDA(2) loss.”
The adjusted revenues attributed to its air ticketing business contributed ₹137.30 crore in Q2 FY19, up by 14.4%, from ₹120 crore, during the corresponding period in FY18. The adjusted revenues attributed to hotels and packages stood at ₹42.82 crore in Q2 FY19, up by 33.8%, from ₹32 crore, during the corresponding period in FY18.
The loss during the quarter ended September 2018, stood at ₹16 crore, which saw a significant reduction, compared to the previous year.
Noting other significant numbers, gross bookings for both air ticketing, along with hotels and packages, witnessed a 23.8% YoY growth, standing at ₹2710 crore for Q2 FY19, up from ₹2190 crore, during the corresponding period in FY18.
Yatra was founded by Dhruv Shringi, Manish Amain, and Sabina Chopra in August 2006. The company offers a wide range of services like 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.