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Yatra sees revenue climb by over 20% in next three fiscals

Launched in August 2006, the company expects the Indian travel industry to experience healthy growth in 2019 as some of the macro headwinds facing the aviation industry in mid-2018 seem to have abated.

twitter-logo BusinessToday.In   New Delhi     Last Updated: March 6, 2019  | 22:02 IST
Yatra sees revenue climb by over 20% in next three fiscals
Dhruv Shringi, Co-founder & CEO, Yatra.com Photo:Indiatodayimages.com

Online travel agency Yatra.com on Wednesday said it saw its revenues increase by over 20 per cent over the next three financial years, on the back of growing presence across various verticals.

"We continue to look at an over 20 per cent growth. This year also, our guidance is for over 20 per cent growth and in the medium term, we should be able to maintain this type of growth rate," Yatra.com co-founder and Chief Executive Officer Dhruv Shringi told PTI.

Speaking on the sidelines of the 'Tourism and Travel Tech Conference' organised by the Internet and Mobile Association of India (IAMAI) and Incredible India, Shringi said that this revenue guidance is for the medium term.

Launched in August 2006, the company expects the Indian travel industry to experience healthy growth in 2019 as some of the macro headwinds facing the aviation industry in mid-2018 seem to have abated.

When asked about the revenue mix for the company, he said: "Currently, around 60 per cent of our revenue comes from the consumers business and 40 per cent from the corporate business and B2B (business-to-business)."

Consumer and corporate are the two fastest-growing segments of the company's business, and are growing at a rate of around over 20 per cent, the news agency quoted him as saying.

The Gurugram-based travel search engine has reported a net profit of Rs 13.75 crore in the third quarter ended December 31, 2018, as compared to Rs 23.23 crore in the year ago quarter. The company's revenue slipped to Rs 220.47 crore from Rs 336.04 crore in Q3 FY18.

Adjusted revenue from hotels and packages increased 10.5 per cent year-on-year to Rs 48.32 crore, while revenue from air ticketing rose by 5.7 per cent y-o-y to Rs 144.81 crore.

"We are reiterating our guidance of 20+ per cent growth in Adjusted Revenue for FY19 and a meaningful improvement in our adjusted EBITDA loss for the fiscal year," the company had said in its December quarter earnings report.

In January this year, the company had acquired the corporate travel business of PL Worldways Limited (PLW), a Chennai-based corporate travel services provider. This acquisition will help strengthen Yatra's foothold in the southern India region along with adding over 100 corporate clients to its existing client base of over 700.

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Edited by Chitranjan Kumar

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