Yatra Online, Inc. reports corporate travel and online travel agency developments for its India-based booking platform. The company, through Yatra Online Limited, provides information, pricing, availability and booking for domestic and international air travel, hotels, holiday packages, buses, trains, cabs, activities, homestays and cruises, with revenue categories that include Air Ticketing, Hotels and Packages, and other travel services.
Recurring updates cover unaudited financial and operating results, earnings calls, corporate travel demand, Hotels and Packages activity, MICE services, client additions, leadership changes, subsidiary matters, shareholder voting items and Nasdaq listing compliance.
Yatra Online (NASDAQ: YTRA), a leading corporate travel provider in India, reported financial results for the quarter and year ending March 31, 2024.
Gross bookings increased by 12.7% YoY in Q4 2024, with Air Gross Bookings up by 15.1%. However, quarterly revenue dropped by 10.2% YoY to INR 1,072.8 million (USD 12.9 million), impacted by a one-time bonus accrual in the previous year. Excluding this, revenue increased by 6.4% YoY.
For the year, revenue rose 10.7% YoY to INR 4,238.2 million (USD 50.9 million). Despite these gains, the company reported a yearly loss of INR 326.0 million (USD 3.9 million), greater than the previous year's loss of INR 288.2 million (USD 3.5 million).
Operationally, Yatra secured 25 new corporate clients, anticipating annual billings of INR 842 million. They also launched an Expense Management solution utilizing AI technologies and repurchased 3.18 million shares for $5M.
Yatra Online (NASDAQ: YTRA), India's largest corporate travel services provider, has launched a Gen AI-powered expense management solution for businesses.
This tool aims to revolutionize expense tracking by integrating travel bookings and expense management into a single platform. It uses advanced technologies such as Gen AI Large Language Models for accurate receipt analysis and an integrated chatbot based on Gen AI and RAG models.
Additional features include multi-level approval processes, ERP system integration, and advanced analytics with a Power BI dashboard. Mobile applications for Android and iOS offer functionalities like expense creation, approval, and mileage tracking via GPS. The solution can handle up to 150 simultaneous user connections.
Over 800 corporations are set to adopt this solution, making it a significant step forward in managing travel and non-travel expenses efficiently.
Yatra Online (NASDAQ: YTRA), India's leading corporate travel services provider and prominent online travel agency, will report its fiscal fourth quarter and full year 2024 financial results on May 30, 2024. The results will cover the period ending March 31, 2024.
The company will release the financial results on its Investor Relations webpage and follow up with a conference call hosted by its senior management team on May 31, 2024, at 9:00 AM EDT (6:30 PM IST).
The call will discuss the results and provide further insights. Additionally, Yatra Online , the company's Indian subsidiary, will announce its results in India on May 30, 2024, followed by a conference call on May 31, 2024, at 10:00 AM IST (12:30 AM EDT).
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.