Yatra Online (YTRA) Q1 2026 earnings summary

Executive summary

• Q1 FY2026 delivered strong financial and operational results, with revenue growing 99.7% year-over-year to INR 2,098.1 million ($24.5 million), driven by robust corporate travel and MICE business performance despite travel disruptions in India.

• Adjusted EBITDA surged 214.4% year-over-year to INR 206.2 million ($2.4 million), reflecting disciplined cost management and a favorable revenue mix.

• Profit for the quarter reached INR 110 million ($1.3 million), reversing a loss of INR 0.8 million ($0.1 million) in the prior year.

• Integration of Globe Travels/GAISL contributed to synergies in supplier consolidation and technology adoption.

• Ongoing restructuring efforts are underway to align with market expectations and unlock shareholder value.

Financial highlights

• Revenue for Q1 FY2026 was INR 2,098.1 million ($24.5 million), up 99.7% year-over-year.

• Gross margin reached INR 1.15 billion ($13.5 million), up 36.6% year-over-year.

• Adjusted Margin from Air Ticketing: INR 982.5 million ($11.5 million), up 6.9% year-over-year.

• Adjusted Margin from Hotels and Packages: INR 380.1 million ($4.4 million), up 37.2% year-over-year.

• Gross Bookings: INR 18,057.9 million ($210.6 million), up 9.1% year-over-year.

• Cash and cash equivalents and term deposits stood at INR 2,250 million ($26 million) as of June 30, 2025.

Outlook and guidance

• Growth rates in the quarter exceeded annual guidance, with a focus on sustainable growth and margin expansion.

• Strong sustained growth opportunities are expected, driven by rising digital adoption in both leisure and corporate travel segments.

• Strategic priorities include scaling high-margin verticals, deepening technology capabilities, and expanding competitive edge.

• Committed to disciplined cost management, profitable scaling, and delivering long-term shareholder value.