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Yatra Online recorded 12% rise in topline in FY24, swings to loss

  • September 26, 2024
  • By Team TheKredible
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Travel services company Yatra Online recorded a 12% increase in revenue for FY24, reaching Rs 448.27 crore from Rs 397.46 crore in FY23.

Founded in 2006 by Dhruv Shringi, Manish Amin, and Sabina Chopra, Yatra Online provides various travel services, including bus and flight bookings, accommodations, holiday packages, visa assistance, and airport cab bookings. Over the years, Yatra Online has acquired six companies to bolster its offerings.

The Gurugram-based company has raised a total of Rs 943.74 crore in funding over 2 rounds. Their latest funding was raised in Sep 2023 from a pre-IPO equity round. Yatra’s valuation currently exceeds Rs 8,000 crore.

Competing with platforms like EaseMyTrip and RedBus, Yatra Online went public in September 2023. The majority of Yatra’s shares are held by THCL Travel Holding, owning over 50%, followed by Asia Consolidated DMC and ICICI Prudential. Around 6% of the company’s shares are available to the public.

Yatra Online’s expenses rose significantly in FY24, from over Rs 300 crore in FY23 to Rs 449.56 crore. Employee benefit expenses accounted for more than 20% of the total, with advertising and promotional expenses contributing over 10%. Finance costs also played a significant role.

In FY24, the company posted a loss of Rs 4.50 crore from a profit of over Rs 7 crore in FY23. 

Yatra Online’s current EBITDA margin and ROCE dropped to 9.07% and 2.68%, respectively.