YATRA ONLINE, INC. ANNOUNCES RESULTS FOR THE THREE MONTHS AND YEAR ENDED MARCH 31, 2017
Gurgaon, India and New York, May 16, 2017 — Yatra Online, Inc. (NASDAQ: YTRA , OTCQX: YTROF), India’s leading online travel company, today announced its unaudited financial and operating results for three months and year ended March 31, 2017.
Commenting on the performance, Dhruv Shringi, Yatra’s CEO and Co-Founder mentioned: “I am delighted to share that we closed out fiscal year ended March 31, 2017 on a positive note with the fourth quarter, which was our first full quarter as a public company, witnessing a significant ramp up in growth rate. We also exceeded the high end of our Revenue Less Service Cost guidance range by posting over INR5.2 billion for fiscal 2017.
The travel industry in India is witnessing a period of sustained growth, and we are very excited to be a leading player in the sector. The domestic air travel industry in India actually grew 19% in passenger volumes in the fourth quarter, making India one of the fastest growing aviation markets in the world. Our growth continued to outpace industry growth. Mobile traffic also scaled up rapidly with 72% of our traffic coming from mobile devices in the fourth quarter up from 67% in third quarter.
We are excited to share that we have signed up one of India’s biggest youth icon, Ranbir Kapoor, as our brand ambassador. His vibrant persona and pan-India appeal makes him an ideal fit for our brand. We are confident that with Ranbir as our endorser, we will strengthen our brand appeal across the length and breadth of the country and take Yatra to even greater heights. On the back of the strong performance in the fourth quarter, we are also initiating Revenue Less Service Cost guidance of 30% to 35% growth for the fiscal year ending March 31, 2018.”
Financial and Operating highlights for the three months ended March 31, 2017:
- Gross Air Passengers Booked were 1.8 million representing year -over -year (YOY) growth of 22.5%, standalone Hotel Room Nights Booked were 0.4 million representing an increase of 53.7% YOY while Packages Passengers Travelled were approximately 33,000 representing an increase of 6.6% YOY.
- Total Gross Bookings reached INR 19.5 billion representing YOY growth of 32.9%.
- Total Revenue (including other income) increased by 18% YOY to INR 2,429.5 million
- Revenue Less Service Cost increased to INR 1,474.9 million, representing an increase of 33% YOY.
- Adjusted EBITDA Loss was INR 558.6 million compared to INR 268.5 million during the same period last year
Financial and Operating highlights for the fiscal year ended March 31, 2017:
- Gross Air Passengers Booked were 6.9 million representing YOY growth of 20.6%, standalone Hotel Room Nights Booked were 1.4 million representing an increase of 21.4% YOY while Packages Passengers Travelled were 143,000 representing an increase of 9.8% YOY.
- Total Gross Bookings reached INR 69.1 billion representing YOY growth of 16.1%
- Total Revenue (including other income) increased by 12.1% YOY to INR 9,393.5 million
- Revenue Less Service Cost increased to INR 5,202.6 million, representing an increase of 23.6% YOY.
- Adjusted EBITDA Loss was INR 1000.9 million compared to INR 951.8 million during the same period last year
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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