Travel tech company Yatra
posted a consolidated net profit of INR 15.2 Cr in Q4 FY25, up 172% from INR 5.6 Cr in the year-ago quarter. On a sequential basis, profit rose 52% from INR 10 Cr.
The company’s operating revenue zoomed 103.2% to INR 218.9 Cr in Q4 FY25 from INR 107.7 Cr in Q4 FY24. However, it fell 6.9% from INR 235.3 Cr in Q3 FY25.
For the full year, revenue from operations jumped 87% to INR 791.4 Cr from INR 422.3 Cr in FY24. It posted a net profit of INR 36.5 Cr in FY25 as against a net loss of INR 4.5 Cr in the previous year.
Founded in 2006 by Dhruv Shringi, Manish Amin and Sabina Chopra, Yatra is an online travel aggregator that lets users explore, research, compare prices and book a wide range of services. It claims to be the largest corporate service provider in India. Besides, Yatra offers expense management solutions to enterprises.
Notably, a large part of Yatra’s revenue comes from commissions paid by airlines, hotels, and other partners. It also earns from ads, extra services like insurance and visa help, and booking or platform fees.
Zooming Into Expenses
In line with the top line, Yatra’s total expenses grew 89.2% to INR 215.2 Cr from INR 113.7 Cr in the same period last year. These were the major expenses incurred:
Employee Benefit Expenses: The spending under the head stood at INR 395.3 Cr in Q4 FY25, up 17.2% from INR 337.2 Cr in the same quarter last year. On a sequential basis, it rose slightly by 1.4% from INR 389.69 Cr.
Marketing & Sales Promotion Expenses: The company spent INR 107.2 Cr on promotional expenses in Q4 FY25, marking a 5.8% increase from INR 101.3 Cr in Q4 FY24. However, it declined 6.1% from INR 114.1 Cr.
Payment Gateway Charges: The expenses under this head stood at INR 118.5 Cr in Q4 FY25, down 7.8% from INR 128.44 Cr in the year-ago period. On a QoQ basis, the spending increased 17.9% from INR 100.5 Cr.
Whistleblower Complaints
Yatra said that during Q3 FY25 and the subsequent period, it received three anonymous whistleblower complaints containing “generic allegations of irregularities”.
In response, the board appointed an independent committee, comprising independent directors, to investigate the matter. The committee appointed an external law firm for a preliminary investigation on the allegations.
“Based on the outcome of the investigation conducted, nothing has emerged indicating any fraud or an adverse impact on the financial statements of the company and these complaints do not warranty any further action and accordingly stand closed,” Yatra’s exchange filing said.
For FY26, the company projected a 30% YoY increase in its adjusted EBITDA, which rose 62% to INR 25.1 Cr in Q4 FY25 and 25% to INR 66.7 Cr in FY25. This growth is expected to be driven by three key areas – expansion of corporate travel, continued scaling of MICE and hotels & packages, and the realisation of full cost synergies from the Globe Travels integration.
Notably, Yatra announced the acquisition of corporate travel services provider Globe Travels for INR 128 Cr in September last year.
Shares of Yatra ended today’s trading session 0.9% lower at INR 104.08 on the BSE.