India’s second largest online travel company, Yatra has reported improvements in revenue in its fourth-quarter. With both its businesses air ticketing and hotels and packages, the company is witnessing a steady and considerable growth as of 31st March 2018.
The travel company has reportedly posted a loss of Rs 38.09 crore in the recent quarter, as compared with Rs 83.02 crore in the previous quarter. The revenue of the company has risen by over 36% amounting to Rs 328.57 crore compared to the fourth quarter of last fiscal.
Dhruv Shringi, CEO of Yatra stated, “The macro factors in India continued to be favourable. Domestic air traffic was up 24% year-over-year in the March quarter. We expect to see sustained growth ahead over the mid to near-term as we see an expansion happening in the number of airports by the government of India and meaningful expansion in the fleet sizes by domestic carriers.”
The revenue from the air ticketing business of the company accounted for an increase to Rs 137.91 crore by 35%, whereas the revenue of Rs 174.93 crore was obtained from hotel packages business which was up almost by 40%, for the fourth quarter.
The company had gained advantages of the government’s UDAN scheme, which subsidises air travel from the country’s tier-2 and tier-3 cities. Along with that, the overall growth in domestic air population, which came in at about 24%, saw the company record higher growth across its air ticketing and hotels and packages businesses.
According to the statement of Shringi, during the quarter, Yatra has brought in more properties estimated to around 9,000 on its platform, raising its total inventory to 92,000.
Marketing and sales promotion expenses as a percentage of revenue less service cost came down to 56.2% in the present quarter as compared to 66.1% during the year-ago corresponding quarter.
Employment and personnel expenses for the quarter came down by almost 21% to Rs 74.28 crore. As of March 31, 2018, Yatra’s primary sources of liquidity were Rs 246.51 crore, and Rs 101.21 crore million in term deposits.