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.
(Logo:
http://mma.prnewswire.com/media/538225/Yatra_Logo.jpg )
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
SOURCE Yatra Online, Inc.