Yatra Online Inc (NASDAQ:YTRA) Posts Inline Earnings Estimates

Yatra Online Inc (NASDAQ:YTRA) stock rose 2.86% (As on Dec 22, 11:29:05 AM UTC-4, Source: Google Finance) after the company posted inline earnings estimates of the second quarter of FY 22. Adjusted revenue from Air ticketing rose 100.9% Y/Y, and Hotels & Packages grew 259.0%. Total gross bookings amounted to $114.1 million, a 348.2% growth Y/Y. The operating loss for the quarter was $(1.9) million versus $(3.9) million a year earlier. The adjusted EBITDA fell 40% Q/Q to $0.3 million. During November 2021, gross booking for corporates grew 81.4% compared to September 2021.The company held $25 million in cash and equivalents as of September 30, 2021. Further, Domestic Air Passenger traffic recovered to 18.8 million passengers in the quarter ended September 30, 2021, a sequential increase of 74%, versus 10.8 million passengers in the quarter ended June 30, 2021.

YTRA in the second quarter of FY 22 has reported the adjusted loss per share of 2 cents, which is inline with the analysts’ estimates for the adjusted loss per share of 2 cents. The company had reported the adjusted revenue growth of 108.8 percent to $10.64 million in the second quarter of FY 22, missing the analysts’ estimates for revenue of $10.68 million. The company posted of adjusted Revenue of INR 788.7 million (USD 10.6 million), representing an increase of 61.4% quarter-over-quarter basis (“QoQ”) and an increase of 108.8% on year over year basis Air passengers booked was up 93% year-over-year in the September quarter, and up 116% sequentially. This outpaced the industry sequential growth of 74%. The hotel room nights were up more than 6x year-over-year, and up 313% sequentially.

The company expects 2022 to be a year of rapid expansion for this business, and believe that the company should be able to achieve revenues of between $4 million to $5 million from this business in 2022.

Meanwhile, on June 5, 2020, the company delivered to Ebix Inc. the notice of termination of the merger agreement with Ebix and filed litigation in the Court of Chancery of the State of Delaware based upon Ebix’s breaches of the merger agreement and an ancillary extension agreement. The company has also sued Ebix for fraud and sued Ebix’s consortium of lenders for tortious interference with contractual relations. On August 30, 2021, the court granted Ebix motions to dismiss and dismissed the complaint in its entirety. On September 17, 2021, the company had filed a notice of appeal of the Dismissal to the Supreme Court of the State of Delaware. The matter is currently pending.

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