Yatra Online (YTRA) Q3 2025 earnings summary

Executive summary

• Revenue from operations reached INR 2,350.7 million for Q3 FY25, up 113% year-over-year, driven by Hotels, Packages, Corporate Travel, and the full-quarter impact of the GAISL/Globe acquisition.

• Adjusted EBITDA surged 173% year-over-year to INR 121.5 million, reflecting cost optimization and a shift to higher-margin segments.

• Net profit reached INR 39.8 million versus a loss of INR 39.5 million in the prior year quarter, a positive swing of INR 79.3 million.

• Onboarded 50 new corporate clients, adding INR 2.8 billion in annual billing potential and expanding into new industries.

• Integration of GAISL/Globe acquisition ahead of schedule, generating positive synergies and strengthening supplier relationships.

Financial highlights

• Gross bookings totaled INR 17,997.1 million, down 3.4% year-over-year due to reduced B2C air travel volumes and strategic discount adjustments.

• Hotels and Packages segment revenue grew 269.4% year-over-year to INR 1,660.8 million, with adjusted margins up 65.8% to INR 438 million.

• Air ticketing adjusted margin was INR 857.6 million, down 23% year-over-year, impacted by lower gross bookings and take rates.

• Marketing and sales promotion costs declined 32% year-over-year, reflecting optimized B2C spending.

• Personal expenses rose 34% year-over-year, mainly due to the Globe acquisition and annual appraisals.

Outlook and guidance

• Focus on expanding Hotels and Packages, MICE, and corporate client base to diversify revenue streams.

• Continued investment in corporate travel solutions, expense management, and cross-selling opportunities.

• Management expects continued margin expansion and operational excellence through cost discipline and scalable structure.