Yatra Online, Inc. Announces Results for the Three Months Ended September 30, 2020
Yatra Online, Inc. (NASDAQ: YTRA) announced its financial results for Q3 2020, reporting a significant decline in revenues due to the impact of the pandemic. Adjusted revenue was INR 377.7 million (USD 5.1 million), down 75.2% year-over-year. Losses for the period totaled INR 300.6 million (USD 4.1 million), while adjusted EBITDA loss improved to INR 125.0 million (USD 1.7 million). Domestic aviation recovery indicated a 60% sequential growth in adjusted revenue, with October 2020 traffic recovering to 42% of October 2019 levels. Yatra's liquidity position suggests resilience against prolonged industry slowdowns.
- Sequential quarterly growth of 60% in adjusted revenue to INR 377.7 million (USD 5.1 million).
- Adjusted EBITDA loss improved to INR 125.0 million (USD 1.7 million) from INR 309.4 million (USD 4.1 million) in June 2020.
- Adjusted revenue decreased 75.2% year-over-year.
- Adjusted revenue from air ticketing fell by 75.4% year-over-year.
- Adjusted revenue from hotels and packages dropped 72.5% year-over-year.
- Loss for the period was INR 300.6 million (USD 4.1 million).
GURUGRAM, India and NEW YORK, Nov. 5, 2020 /PRNewswire/ -- Yatra Online, Inc. (NASDAQ: YTRA) (OTCQX: YTROF), India's leading corporate travel services provider and one of India's leading online travel companies, today announced its unaudited financial and operating results for the three months ended September 30, 2020
"The domestic aviation market in India continued on its path of recovery with October 2020 passenger traffic up
Financial and operating highlights for the three months ended September 30, 2020:
- Revenue of INR 263.3 million (USD 3.6 million).
- Adjusted Revenue of INR 377.7 million (USD 5.1 million), representing a decrease of
75.2% YOY. - Adjusted Revenue from Air Ticketing of INR 253.2 million (USD 3.4 million), representing a decrease of YOY
75.4% . - Adjusted Revenue from Hotels and Packages of INR 45.5 million (USD 0.6 million), representing a decrease of
72.5% YOY. - Total Gross Bookings (Air Ticketing and Hotels and Packages) of INR 1,687.7 million (USD 22.9 million).
- Loss for the period of INR 300.6 million (USD 4.1 million).
- Adjusted EBITDA Loss of INR 125.0 million (USD 1.7 million) representing a decline of
115.5% YOY.
About Yatra Online, Inc.
Yatra Online, Inc. is the parent company of Yatra Online Pvt. Ltd. which is based in Gurugram, India and is India's leading Corporate Travel services provider with over 700+ Corporate customers and one of India's leading online travel companies and operates the website https://www.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 103,000 hotels in India and over 1,500,000 hotels around the world.
Safe Harbor Statement
Statements contained in this press release that relate to future results and events may constitute "forward-looking statements" within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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," "seem," "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 earnings release is provided as of the date of issuance of this earnings release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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SOURCE "Yatra Online
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