- Yatra Online, Inc (NASDAQ: YTRA) reported fourth-quarter revenue growth of 19.3% year-on-year to $8 million.
- The increase in revenue was primarily due to a recovery in domestic travel demand.
- Revenue from the Air Ticketing business decreased 4.4% Y/Y to $4.2 million. The Hotels and Packages business revenue was $2.4 million versus $1.1 million a year ago.
- The adjusted revenue grew by 1% Y/Y to $12.9 million, beating the consensus of $12.3 million.
- Adjusted revenue from Air Ticketing rose 5% Y/Y to $8.8 million. Adjusted Revenue from Hotels and Packages declined 2% Y/Y to $2.4 million.
- Total Gross Bookings (Air Ticketing, Hotels and Packages, and others) totaled $150.6 million, representing an increase of $45.1 million Y/Y.
- Adjusted EBITDA was $0.7 million, reflecting a decrease from $1.2 million a year ago.
- Adjusted EPS loss of $(0.01) beat the consensus loss of $(0.02).
- Yatra Online held $18 million in cash and equivalents.
- Dhruv Shringi, Co-founder and CEO, said, "We witnessed a swift recovery in both corporate and consumer businesses following the impact of Omicron, which led to a shut down across parts of India in January...Business travel and travel, in general, continues to recover strongly. India's domestic passenger traffic in May 2022 was at 90% of pre-COVID levels, and Business travel for Yatra is currently trending at 90% of pre-Covid levels. International travel has also begun to recover strongly post the easing of international travel restrictions towards the end of March 2022."
- Price Action: YTRA shares traded lower by 6.09% at $1.85 on the last check Friday.
Read at Benzinga