In contrast to a net profit of INR 7.6 Cr in the previous fiscal year, Yatra Online, a well-known online travel aggregator (OTA), recorded a consolidated net loss of INR 4.5 Cr in the financial year 2023–24 (FY24). The slump was caused by rising expenses, even when operating revenue was surging.
Key Highlights
In Q4 FY24, consolidated net profit fell 37% to INR 5.57 crore.
In Q4 of FY24, operating revenue dropped by 10% to INR 107.7 Cr, while it increased by 11% to INR 422.3 Cr in FY24.
In Q4 of FY24, Yatra added 25 new corporate accounts, growing its clientele of corporate customers.
Financial Overview
Yatra’s FY24 financial results painted a conflicting image. The company reported a large fall in net profit despite a notable gain in operational revenue. The increase in expenditures, which included spending for employee benefits, services, and promotions, was a factor in the total loss.
Operational Insights
Positive operational developments were noted by Yatra despite the financial problems. In Q4 FY24, gross bookings rose 12% year over year, mostly due to a strong uptick in foreign travel. Furthermore, domestic air travel increased by 24% annually, demonstrating the strength of the home market.
Expense Breakdown
In FY24, Yatra’s overall costs increased by 16% to INR 449.5 crore. The expenses for employee benefits, services, and promotions all made a sizable contribution to the total cost. While service and advertising costs grew by 34% and 37% YoY, respectively, employee benefit expenditures grew by over 18%.
Future Outlook
Yatra is still committed to improving its service offerings and growing its clientele in spite of the financial difficulties. The company’s dedication to meeting changing consumer demands and enhancing operational effectiveness is demonstrated by the recent introduction of an expense management solution.
CEO Statement
Yatra CEO Dhruv Shringi emphasised the favourable growth patterns in gross bookings and domestic flight passengers when discussing the financial performance. He highlighted the company’s initiatives to improve customer satisfaction and adjust to shifting market conditions.
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