Q4 2026 Yatra Online Inc Earnings Call Transcript
Key Points
- Yatra Online Inc (YTRA) reported its most profitable year in its 20-year history, with revenue from operations growing 27% year-over-year to approximately $107 million.
- Adjusted EBITDA grew by 64% year-over-year, reflecting strong operating leverage and disciplined cost control.
- The company added 163 new corporate customers in FY26, with an annual billable value of approximately $102 million, demonstrating strong traction in its enterprise travel business.
- Yatra Online Inc (YTRA) achieved a high customer retention rate of nearly 97%, indicating strong customer loyalty and long-term value.
- The company enhanced its API infrastructure and migrated to Google Cloud, significantly improving its ability to distribute hotel content, which is expected to scale further in the coming years.
- Revenue from operations decreased by 14% year-on-year in Q4, impacted by geopolitical disruptions in the Middle East.
- The MICE and international corporate travel business faced significant disruptions, with several bookings canceled or deferred into FY27.
- EBITDA loss increased year-on-year to approximately $1 million in Q4, reflecting the impact of external macroeconomic factors.
- The conflict-related disruptions slightly depressed air volumes and had a pronounced impact on MICE and international corporate group travel bookings.
- Despite strong performance, the company faced intense competitive pressure in the air segment, although it managed to improve air margins.
Hello, everyone, and welcome to Yatra's fiscal fourth-quarter and full-year 2026 financial results call for the period ended March 31, 2026. Today's call is hosted by Yatra's Co-Founder, Dhruv Shringi; Yatra's CEO, Siddharthu Gupta; and Yatra's CFO, Anuj Sethi.
The following discussion, including responses to your questions, reflect the management's views as of today, May 25, 2026. The company does not take any obligation to update or revise the information.
Before they begin their formal remarks, please be reminded that certain statements made on this call may constitute forward-looking. Statements, which are based on Yatra management's current expectations and beliefs and are subject to several risks and uncertainties that could cause actual results to differ materially. For a description of these risks, please refer to Yatra's filings with the SEC and their press release filed earlier this morning on the IR section of the Yatra website.
With that, let me turn the call over to Yatra's Co-Founder, Dhruv Shringi. Dhruv, please go ahead.
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