Full Year 2026 Yatra Online Ltd Earnings Call Transcript
Key Points
- Yatra Online Ltd (NSE:YATRA) reported its most profitable year in its 20-year history, with a 27% year-over-year increase in revenue from operations.
- The company added 163 new corporate customers in FY26, with an annual billable value of approximately INR9,568 million, demonstrating strong growth in its enterprise travel business.
- Yatra's gross margin increased by 24.5% year-over-year, surpassing the revised guidance of 22%, reflecting strong operating leverage.
- The company achieved a significant increase in cash flow from operations, growing almost tenfold year-over-year to INR761 million.
- Yatra's air passenger volumes grew 9.6% year-over-year, approximately twice the industry growth rate, indicating continued market share gains.
- The geopolitical conflict in the Middle East significantly impacted Yatra's MICE and international corporate travel business, leading to cancellations and deferrals into FY27.
- Revenue from operations decreased by 14% year-on-year in Q4, and EBITDA declined by 46% year-on-year, reflecting the impact of external headwinds.
- The company's profit after tax decreased by 46% year-on-year to INR82 million in Q4.
- Yatra's hotel business saw a drop in average realizations per room night due to a shift in business mix towards more domestic and affiliate business.
- The macroeconomic environment, including rising energy prices and disruptions in international travel, posed challenges to Yatra's operations.
Good morning, ladies and gentlemen, and welcome to the Yatra earnings call. (Operator Instructions) To take us through and introduce the management, I have my colleague, Nitin Padmanabhan. I hand it over to you, Nitin. Go ahead, please. Thank you.
Yeah, hi. Good morning, everyone, and welcome to the Q4 FY26 earnings call for Yatra Online Limited. Please note, certain statements made during this call may be forward-looking in nature and are subject to risks and uncertainties. Actual results may differ materially.
Today, we have with us the management of the company represented by Mr. Dhruv Shringi, Executive Chairperson and Whole-Time Director; and CEO, Mr. Siddhartha Gupta; and Chief Financial Officer, Anuj Kumar Sethi. Thank you all for joining. Over to you, Dhruv, Siddhartha and Anuj.
Thank you, Nitin, and good morning, everyone, and welcome to Yatra's full year 2026 and Q4 2026 earnings call. Fiscal year 2026 has been a landmark
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