Earnings release
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Exhibit 99.1 YATRA ONLINE, INC. ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2025 Gurugram, India and New York August 8, 2025— Yatra Online, Inc. (NASDAQ: YTRA) (the “Company”), India’s leading corporate travel services provider and one of India’s leading online travel companies, today announced its unaudited financial and operating results for the three months ended June 30, 2025. “I am pleased to share that our first-quarter performance delivered strong financial and operational results, with growth rates in the quarter well ahead of our annual guidance, despite the disruption in travel in India on account of the cross-border tension and the unfortunate air crash in June 2025. Our performance is driven by continued momentum in business travel demand and solid execution across our platform. Revenue growth was driven by a higher corporate travel mix and higher share of hotels and packages which combined with disciplined cost management enabled us to deliver a 214.4% increase in Adjusted EBITDA. These results affirm the strength of our strategic positioning and our ability to scale profitably. As we look ahead, we remain focused on driving sustainable growth, enhancing shareholder value, and expanding our competitive edge in the global travel ecosystem. For the three months ended June 30, 2025, we reported revenue of INR 2,098.1 million (USD 24.5 million) registering growth of 99.7% YoY. Our Revenue Less Service Cost for the three months ended June 30, 2025, of INR 1,156.3 million (USD 13.5 million) was up 36.6% YoY reflecting the momentum we’ve built across our Corporate Travel and MICE businesses, which have been pivotal in navigating a competitive landscape. Notably, our profitability metrics underscore our disciplined execution: Profit for the period grew 14,514.9% YoY, reflecting our ability to optimize costs and capitalize on high- growth opportunities. Our MICE business continues to build on the strong foundation that we laid last year and has emerged as a standout performer, and we have been able to establish Yatra in a very short period as a dominant player in India’s MICE market. While our B2C air ticketing segment faced top-line and margin pressures due to disruption of travel due to the macro factors mentioned above, our diversified revenue mix—particularly the strength in Hotels & Packages and MICE—has effectively mitigated these challenges. Our Corporate Travel segment continues to be a cornerstone of our success. In the first quarter, we onboarded 34 new corporate clients, further expanding our annual billing potential by INR 2,010 million (USD 23.4 million) and reinforcing our position as India’s leading corporate travel provider. The integration of Globe Travels, acquired in September 2024, has exceeded expectations, delivering synergies in supplier consolidation, technology adoption, and cross-selling opportunities. These efforts have enhanced our ability to offer seamless, tech-driven solutions to our growing client base. As part of our ongoing efforts around restructuring, the Company believes it has a viable structure to pursue. While some hurdles remain, we are actively navigating processes across jurisdictions. The timeline is uncertain due to complexity, but we’re fully committed. This transition is key for Yatra and our shareholders, aligning us with the market and unlocking value. We’ll share updates as we move forward. We remain focused on advancing our strategic priorities: scaling high-margin verticals, deepening our technology edge, and creating sustainable long-term value for our stakeholders. I would like to thank our team for their relentless dedication, our partners for their trust, and our shareholders for their continued support.” – Dhruv Shringi, Co-founder and CEO. Financial and operating highlights for the three months ended June 30, 2025: ● Revenue of INR 2,098.1 million (USD 24.5 million), representing an increase of 99.7% year-over-year basis (“YoY”). ● Adjusted Margin (1) from Air Ticketing of INR 982.5 million (USD 11.5 million), representing a increase of 6.9% YoY. ● Adjusted Margin (1) from Hotels and Packages of INR 380.1 million (USD 4.4 million), representing an increase of 37.2% YoY. ● Total Gross Bookings (Air Ticketing, Hotels and Packages and Other Services)(3) of INR 18,057.9 million (USD 210.6 million), representing a increase of 9.1% YoY. ● Profit for the period was INR 109.9 million (USD 1.3 million) versus a loss of INR 0.8 million (USD 0.1 million) for the three months ended June 30, 2024, reflecting a increase of INR 110.7 million (USD 1.3 million) YoY. ● Result from operations was a Profit of INR 104.4 million (USD 1.2 million) versus a loss of INR 34.1 million (USD 0.4 million) for the three months ended June 30, 2024, reflecting a increase of INR 138.5 million (USD 1.6 million) YoY. ● Adjusted EBITDA(2) was INR 206.2 million (USD 2.4 million) reflecting an increase of 214.4% YOY.
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Three months ended June 30, 2024 2025 2025 Unaudited Unaudited Unaudited YoY Change (In thousands except percentages) INR INR USD % Financial Summary as per IFRS Revenue 1,050,718 2,098,144 24,471 99.7% Results from operations (34,124) 104,378 1,218 405.9% (Loss)/ Profit for the period (763) 109,937 1,282 14,514.9% Financial Summary as per non-IFRS measures Adjusted Margin (1) Adjusted Margin - Air Ticketing 918,951 982,517 11,459 6.9% Adjusted Margin - Hotels and Packages 277,141 380,148 4,434 37.2% Adjusted Margin - Other Services 72,117 71,905 839 (0.3)% Others (Including Other Income) 154,484 141,002 1,645 (8.7)% Adjusted EBITDA (2) 65,590 206,227 2,405 214.4% Operating Metrics Gross Bookings (3) 16,547,649 18,057,854 210,612 9.1% Air Ticketing 13,520,293 14,103,223 164,488 4.3% Hotels and Packages 2,398,832 3,433,322 40,043 43.1% Other Services (6) 628,524 521,309 6,080 (17.1)% Adjusted Margin% (4) Air Ticketing 6.8% 7.0% Hotels and Packages 11.6% 11.1% Other Services 11.5% 13.8% Quantitative details (5) Air Passengers Booked 1,330 1,206 (9.3)% Stand-alone Hotel Room Nights Booked 417 423 1.4% Packages Passengers Travelled 7 19 171.4% Note: (1) As certain parts of our revenue are recognized on a “net” basis and other parts of our revenue are recognized on a “gross” basis, we evaluate our financial performance based on Adjusted Margin, which is a non-IFRS measure. (2) See the section below titled “Certain Non-IFRS Measures.” (3) Gross Bookings represent the total amount paid by our customers for travel services, freight services and products booked through us, including taxes, fees and other charges, and are net of cancellation and refunds. (4) Adjusted Margin % is defined as Adjusted Margin as a percentage of Gross Bookings. (5) Quantitative details are considered on a gross basis. (6) Other Services primarily consists of freight business, IT services, bus, rail and cab and others services. As of June 30, 2025, 62,185,795 ordinary shares (on an as-converted basis), par value $0.0001 per share, of the Company (the “Ordinary Shares”) were issued and outstanding.
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Convenience Translation The unaudited condensed consolidated financial statements are stated in INR. However, solely for the convenience of readers, the unaudited condensed consolidated statement of profit or loss and other comprehensive loss for the three months ended June 30, 2025, the unaudited condensed consolidated statement of financial position as at June 30, 2025, the unaudited condensed consolidated statement of cash flows for the three months ended June 30, 2025 and discussion of the results of the three months ended June 30, 2025 compared with three months ended June 30, 2024, were converted into U.S. dollars at the exchange rate of 85.74 INR per USD, which is based on the noon buying rate as at June 30, 2025, in The City of New York for cable transfers of Indian rupees as certified for customs purposes by the Federal Reserve Bank of New York. This arithmetic conversion should not be construed as representation that the amounts expressed in INR may be converted into USD at that or any other exchange rate as well as that such numbers are in compliance as per the requirements of the International Financial Reporting Standards (“IFRS”). Recent developments On April 15, 2025, we received a letter from the Staff of Nasdaq notifying us that, for the period from March 3, 2025 to April 14, 2025, our ordinary shares had not maintained the Minimum Bid Price Requirement pursuant to Nasdaq Listing Rule 5550(a)(2). The Nasdaq letter does not result in the immediate delisting of our ordinary shares from The Nasdaq Capital Market. In accordance with the Compliance Period Rule, we have been provided an initial period of 180 calendar days, or until October 13, 2025, to regain compliance with the Minimum Bid Price Requirement. If, at any time during this 180-day period, the closing bid price for our ordinary shares closes at $1.00 or more per share for a minimum of 10 consecutive business days, as required under the Compliance Period Rule, the Staff will provide written notification to us that we comply with the Minimum Bid Price Requirement and the ordinary shares will continue to be eligible for listing on The Nasdaq Capital Market. If we do not regain compliance with the Minimum Bid Price Requirement by the Compliance Date, we may be eligible for an additional 180 calendar day compliance period. To qualify, we would have to meet the continued listing requirement for the market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the Minimum Bid Price Requirement, and we would need to provide written notice to Nasdaq of its intention to cure the deficiency during the additional compliance period, by effecting a reverse stock split, if necessary. We intend to monitor the closing bid price of its ordinary shares and may, if appropriate, consider available options to regain compliance with the Minimum Bid Price Requirement, which could include seeking to effect a reverse stock split. However, there can be no assurance that we will be able to regain compliance with the Minimum Bid Price Requirement, secure a second period of 180 days to regain compliance, or maintain compliance with any of the other Nasdaq continued listing requirements. During the quarter, Yatra Online Limited, the Company’s Indian subsidiary (“Yatra India”) has received queries from SEBI in respect of utilization of IPO proceeds. Deposits/Advances aggregating INR 3,391.44 million given for airline tickets and hotel bookings till June 30, 2024 were considered as utilisation of proceeds of IPO under the object of Investment in Customer acquisition and Retention, Technology and other Organic Growth Initiative in the manner specified in the Offer Document. These deposits/advances were given under ordinary course of business prevalent in the industry sector in which the Yatra India operates. Such classification was based on a legal opinion obtained by the Yatra India on which the previous auditors had relied upon for issuing their reports on the manner of utilisation of proceeds of IPO till aforesaid date. The Yatra India has responded to queries received from National Stock Exchange and the Securities and Exchange Board of India (SEBI) regarding utilization of IPO proceeds paid till June 30, 2024. Based on independent legal opinions obtained, management believes that aforesaid classification of utilization is in accordance with the Object Clause of the Offer Document complying with applicable regulations. The Company’s financial and operating results for the three months ended June 30, 2025, include the financial and operating results of Globe All India Services Limited (GAISL) from April 1, 2025, to June 30, 2025. Accordingly, the reported results for three months ended June 30, 2025, which are inclusive of the impact of consolidation of GAISL may not be comparable with the reported results for the three months ended June 30, 2024, which exclude the impact of consolidation of GAISL. Results of Three Months Ended June 30, 2025 Revenue. We generated Revenue of INR 2,098.1 million (USD 24.5 million) in the three months ended June 30, 2025, an increase of 99.7% compared with INR 1,050.7 million (USD 12.3 million) in three months ended June 30, 2024. Increase in revenue is mainly a combination of increase in our Hotels and Packages business on account of our Meetings, Incentives, Conferences, and Exhibitions (“MICE”) business and an impact of our acquisition of GAISL. Service cost. Our Service cost increased to INR 941.9 million (USD 11.0 million) in the three months ended June 30, 2025, compared to Service cost of INR 204.0 million (USD 2.4 million) in the three months ended June 30, 2024. The increase in Service cost is driven by an increase in Hotels and Packages gross bookings on account of our MICE business and an impact of our acquisition of GAISL. The following table reconciles our Revenue (an IFRS measure) to Adjusted Margin (a non-IFRS measure), for further details, see section below titled “Certain Non-IFRS Measures.”
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Reconciliation of Revenue (an IFRS measure) to Adjusted Margin (a non-IFRS measure) Reportable Segments Air Ticketing Hotels and Packages Other Services Three months ended June 30, Amount in INR thousands (Unaudited) 2024 2025 2024 2025 2024 2025 Revenue as per IFRS - Rendering of services 456,909 646,972 383,136 1,252,556 67,787 67,409 Customer promotional expenses 462,042 335,545 97,959 69,445 4,330 4,496 Service cost - - (203,954) (941,853) - - Adjusted Margin 918,951 982,517 277,141 380,148 72,117 71,905 Air Ticketing. Revenue from our Air Ticketing business was INR 647.0 million (USD 7.5 million) in the three months ended June 30, 2025 as compared to INR 456.9 million (USD 5.3 million) in the three months ended June 30, 2024, reflecting an increase of 41.6%. Adjusted Margin (1) from our Air Ticketing business increased to INR 982.5 million (USD 11.5 million) in the three months ended June 30, 2025, as compared to INR 919.0 million (USD 10.7 million) in the three months ended June 30, 2024. In the three months ended June 30, 2025, Adjusted Margin (1) for Air Ticketing includes the add-back of INR 335.5 million (USD 3.9 million) of consumer promotion and loyalty program costs, which had been reduced from Revenue as per IFRS 15, against an add-back of INR 462.0 million (USD 5.4 million) in the three months ended June 30, 2024. The increase in Adjusted Margin – Air Ticketing is in line with the increase in gross bookings. Hotels and Packages. Revenue from our Hotels and Packages business was INR 1,252.6 million (USD 14.6 million) in the three months ended June 30, 2025, as compared to INR 383.1 million (USD 4.5 million) in the three months ended June 30, 2024, reflecting an increase of 226.9%. Adjusted Margin (1) for this segment increased by 37.2% to INR 380.1 million (USD 4.4 million) in the three months ended June 30, 2025 from INR 277.1 million (USD 3.2 million) in the three months ended June 30, 2024. In the three months ended June 30, 2025, Adjusted Margin (1)l for Hotels and Packages includes the add-back of customer promotional expenses, which had been reduced from Revenue as per IFRS 15 of INR 69.4 million (USD 0.8 million) against an add-back of INR 98.0 million (USD 1.1 million) in the three months ended June 30, 2024. The increase in Adjusted Margin is driven by increase in gross bookings of our Hotels and Packages business on account of MICE business and full quarter impact of our acquisition of GAISL. Other Services. Our Revenue from Other Services was INR 67.4 million (USD 0.8 million) in the three months ended June 30, 2025, a decrease from INR 67.8 million (USD 0.8 million) in the three months ended June 30, 2024. Adjusted Margin for this segment decreased by 0.3% to INR 71.9 million (USD 0.8 million) in the three months ended June 30, 2025, from INR 72.1 million (USD 0.8 million) in the three months ended June 30, 2024. In the three months ended June 30, 2025, Adjusted Margin includes the add-back of consumer promotion expenses, which had been reduced from Revenue of INR 4.5 million (USD 0.1 million) against an add-back of INR 4.3 million (USD 0.1 million) in the three months ended June 30, 2024 pursuant to IFRS 15. (1) See the section titled “Certain Non-IFRS Measures.”
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Other Revenue. Our Other Revenue was INR 131.2 million (USD 1.5 million) in the three months ended June 30, 2025, a decrease from INR 142.9 million (USD 1.7 million) in the three months ended June 30, 2024 due to a decrease in advertising revenue. Other Income. Our Other Income decreased to INR 9.8 million (USD 0.1 million) in the three months ended June 30, 2025 from INR 11.6 million (USD 0.1 million) in the three months ended June 30, 2024 due to a decrease in write back of liabilities no longer required to be paid. Personnel Expenses. Our personnel expenses increased by 12.3% to INR 403.6 million (USD 4.7 million) in the three months ended June 30, 2025 from INR 359.2 million (USD 4.2 million) in the three months ended June 30, 2024. Excluding employee share-based compensation costs of INR 10.3 million (USD 0.1 million) in the three months ended June 30, 2025, compared to INR 38.8 million (USD 0.5 million) in the three months ended June 30, 2024, personnel expenses increased by 22.8% in the three months ended June 30, 2025 on account of full quarter impact of recently acquired GAISL. Marketing and Sales Promotion Expenses. Marketing and sales promotion expenses increased by 9.4% to INR 100.8 million (USD 1.2 million) in the three months ended June 30, 2025 from INR 92.2 million (USD 1.1 million) in the three months ended June 30, 2024. Adding back the expenses for consumer promotions and loyalty program costs, which have been deducted from Revenue per IFRS 15, our marketing spend would have been INR 510.3 million (USD 6.0 million) in the three months ended June 30, 2025 against INR 656.5 million (USD 7.7 million) in the three months ended June 30, 2024, decreased by 22.3% on a YoY basis on account of optimization of consumer promotion expenses across all the businesses. Other Operating Expenses. Other operating expenses increased to 22.5% to INR 465.8 million (USD 5.4 million) in the three months ended June 30, 2025 from INR 380.2 million (USD 4.4 million) in the three months ended June 30, 2024. Depreciation and Amortization. Our depreciation and amortization expenses increased by 50.2% to INR 91.5 million (USD 1.1 million) in the three months ended June 30, 2025 from INR 60.9 million (USD 0.7 million) in the three months ended June 30, 2024 on account of GAISL acquisition and higher capitalization of intangible assets. Results from Operations. As a result of the foregoing factors, our Results from Operations were a profit of INR 104.4 million (USD 1.2 million) in the three months ended June 30, 2025. Our results from operations for the three months ended June 30, 2024 was a loss of INR 34.1 million (USD 0.4 million). Excluding the employee share-based compensation costs, Adjusted Results from Operations(1) would have been a profit of INR 114.7 million (USD 1.4 million) for three months ended June 30, 2025 as compared to a profit of INR 4.7 million (USD 0.1 million) for three months ended June 30, 2024.
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Finance Income. Our finance income decreased to INR 35.1 million (USD 0.4 million) in the three months ended June 30, 2025 from INR 65.8 million (USD 0.8 million) in the three months ended June 30, 2024. This decrease was primarily on account of a decrease in our term deposits. Finance Costs. Our finance costs of INR 18.2 million (USD 0.2 million) in the three months ended June 30, 2025 which includes interest on the lease liability of INR 8.6 million (USD 0.1 million) decreased by INR 10.5 million (USD 0.1 million) from finance cost of INR 28.6 million (USD 0.3 million) in the three months ended June 30, 2024, which includes interest on the lease liability of INR 7.8 million (USD 0.1 million). . Income Tax Expense. Our income tax expense during the three months ended June 30, 2025 was INR 11.3 million (USD 0.1 million) compared to income tax expense of INR 3.8 million (USD 0.1 million) during the three months ended June 30, 2024. Profit/ (Loss) for the Period. As a result of the foregoing factors, our profit in the three months ended June 30, 2025 was INR 109.9 million (USD 1.3 million) as compared to a loss of INR 0.8 million (USD 0.1 million) in the three months ended June 30, 2024. Excluding the employee share based compensation costs, the Adjusted Profit(1) would have been INR 120.3 million (USD 1.4 million) for the three months ended June 30, 2025 against an Adjusted Profit(1) of INR 38.0 million (USD 0.4 million) for the three months ended June 30, 2024. Adjusted EBITDA(1). Due to the foregoing factors, Adjusted EBITDA (1) increased to INR 206.2 million (USD 2.4 million) in the three months ended June 30, 2025 from an Adjusted EBITDA (1) of INR 65.6 million (USD 0.8 million) in the three months ended June 30, 2024. Basic Earnings/(Loss) per Share. Basic Earnings per Share was INR 0.85 (USD 0.01) in the three months ended June 30, 2025 as compared to Basic Loss per share of INR 0.41 (USD 0.01) in the three months ended June 30, 2024. After excluding the employee share-based compensation costs, Adjusted Basic Earnings per Share(1) would have been INR 0.97 (USD 0.01) in the three months ended June 30, 2025, as compared to Adjusted Basic Earnings per share of INR 0.01 (USD 0.01) in the three months ended June 30, 2024. Diluted Earnings/(Loss) per Share. Diluted Earnings per Share was INR 0.85 (USD 0.01) in the three months ended June 30, 2025 as compared to Diluted Loss per share of INR 0.41 (USD 0.01) in the three months ended June 30, 2024. After excluding the employee share-based compensation costs, Adjusted Diluted Earnings per Share(1) would have been INR 0.97 (USD 0.01) in the three months ended June 30, 2025 as compared to Adjusted Diluted Earnings of INR 0.01 (USD 0.01) in the three months ended June 30, 2024. (1) See the section titled “Certain Non-IFRS Measures.” Liquidity. As of June 30, 2025, the balance of cash and cash equivalents and term deposits on our balance sheet was INR 2,235.3 million (USD 26.1 million). (1) See the section titled “Certain Non-IFRS Measures.”
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Conference Call The Company will host a conference call to discuss its unaudited results for the three months ended June 30, 2025 beginning at 8:00 AM Eastern Daylight Time (or 5:30 PM India Standard Time) on August 11, 2025. Dial in details for the conference call is as follows: US/International dial-in number: +1 404 975 4839. Confirmation Code: 074806 (Callers should dial in 5-10 minutes prior to the start time and provide the operator with the Confirmation Code). The conference call will also be available via webcast at https://events.q4inc.com/attendee/602207282. Certain Non-IFRS Measures As certain parts of our Revenue are recognized on a “net” basis and other parts of our Revenue are recognized on a “gross” basis, we evaluate our financial performance based on Adjusted Margin, which is a non-IFRS measure. We believe that Adjusted Margin provides investors with useful supplemental information about the financial performance of our business and more accurately reflects the value addition of the travel services that we provide to our customers. The presentation of this non-IFRS information is not meant to be considered in isolation or as a substitute for our unaudited condensed consolidated financial results prepared in accordance with IFRS as issued by the International Accounting Standards Board (“IASB”). Our Adjusted Margin may not be comparable to similarly titled measures reported by other companies due to potential differences in the method of calculation. In addition to referring to Adjusted Margin, we also refer to Adjusted EBITDA, Adjusted Results from Operations, Adjusted Profit/(Loss) for the Period and Adjusted Basic and Adjusted Diluted Earnings/(Loss) Per Share which are also non-IFRS measures. For our internal management reporting, budgeting and decision-making purposes, including comparing our operating results to that of our competitors, these non-IFRS financial measures exclude employee share-based compensation cost. Our non-IFRS financial measures reflect adjustments based on the following: ● Employee share-based compensation cost - The compensation cost to be recorded is dependent on varying available valuation methodologies and subjective assumptions that companies can use while valuing these expenses especially when adopting IFRS 2 “Share-based Payment”. Thus, the management believes that providing non-IFRS financial measures that exclude such expenses allows investors to make additional comparisons between our operating results and those of other companies. ● Finance income - These primarily reflect income on the bank deposit. ● Finance cost - These primarily reflect income on the borrowings and interest in lease liability. ● Depreciation and amortization - These primarily reflect depreciation and amortization on tangible and intangible assets. ● Tax expense - These primarily reflect income tax and deferred tax. We evaluate the performance of our business after excluding the impact of the above measures and believe it is useful to understand the effects of these items on our results from operations, Profit/(Loss) for the period and Basic and Diluted Earnings/(Loss) Per Share. The presentation of these non-IFRS measures is not meant to be considered in isolation or as a substitute for our unaudited condensed consolidated financial results prepared in accordance with IFRS as issued by the IASB. These non-IFRS measures may not be comparable to similarly titled measures reported by other companies due to potential differences in the method of calculation. A limitation of using Adjusted EBITDA, Adjusted Results from Operations, Adjusted Profit/(Loss) for the period and Adjusted Basic and Adjusted Diluted Earnings/(Loss) Per Share as against using measures in accordance with IFRS as issued by the IASB are that these non-IFRS financial measures exclude share-based compensation cost, depreciation and amortization, finance income, finance costs, and tax expenses in case of Adjusted EBITDA. Management compensates for this limitation by providing specific information on the IFRS amounts excluded from Adjusted EBITDA, Adjusted Results from Operations, Adjusted Profit/(Loss) for the Period and Adjusted Basic and Adjusted Diluted Earnings/(Loss) Per Share.
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The following table reconciles our Profits/(Losses) for the periods (an IFRS measure) to Adjusted EBITDA (a non-IFRS measure) for the periods indicated: Reconciliation of Adjusted EBITDA (unaudited) Three months ended Amount in INR thousands June 30, 2024 June 30, 2025 Profit/(Loss) for the period as per IFRS (763) 109,937 Employee share-based compensation costs 38,792 10,339 Depreciation and amortization 60,922 91,510 Finance income (65,814) (35,070) Finance costs 28,606 18,222 Tax expense 3,847 11,288 Adjusted EBITDA 65,590 206,226 Reconciliation of Adjusted Results from Operations (unaudited) Three months ended Amount in INR thousands June 30, 2024 June 30, 2025 Results from operations (as per IFRS) (34,124) 104,378 Employee share-based compensation costs 38,792 10,339 Adjusted Results from Operations 4,668 114,717 Reconciliation of Adjusted Profit/(Loss) (unaudited) Three months ended Amount in INR thousands June 30, 2024 June 30, 2025 Profit/(Loss) for the period (as per IFRS) (763) 109,937 Employee share-based compensation costs 38,792 10,339 Adjusted Profit/(Loss) for the period 38,029 120,276 Three months ended Reconciliation of Adjusted Basic Earnings/(Loss) (Per Share) (unaudited) June 30, 2024 June 30, 2025 Basic Earnings/Loss per share (as per IFRS) (0.41) 0.85 Employee share-based compensation costs 0.42 0.12 Adjusted Basic Earnings/(Loss) Per Share 0.01 0.97 Three months ended Reconciliation of Adjusted Diluted Loss (Per Share) (unaudited) June 30, 2024 June 30, 2025 Diluted Earnings/(Loss) per share (as per IFRS) (0.41) 0.85 Employee share-based compensation costs 0.42 0.12 Adjusted Diluted Earnings/(Loss) Per Share 0.01 0.97 The following table reconciles our Revenue (an IFRS measure), to Adjusted Margin (a non-IFRS measure): Reconciliation of Revenue (an IFRS measure) to Adjusted Margin (a non-IFRS measure) Reportable Segments Air Ticketing Hotels and Packages Other Services Three months ended June 30, Amount in INR thousands (Unaudited) 2024 2025 2024 2025 2024 2025 Revenue as per IFRS - Rendering of services 456,909 646,972 383,136 1,252,556 67,787 67,409 Customer promotional expenses 462,042 335,545 97,959 69,445 4,330 4,496 Service cost - - (203,954) (941,853) - - Adjusted Margin 918,951 982,517 277,141 380,148 72,117 71,905
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Safe Harbor Statement This earnings release contains certain statements concerning the Company’s future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are based on the Company’s current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “project,” “seek,” “should” similar expressions and the negative forms of such expressions. Such statements include, among other things, statements regarding the long-term growth trajectory for the Indian travel market; growth of the MICE business and corporate travel business; statements concerning management’s beliefs as well as our strategic and operational plans; our ability to simplify our corporate structure and operations and enhance shareholder value; our expectations regarding sustained margin expansion as a result of simplifying our legal and corporate structure; our future financial performance; our ability to meet our financial guidance; and our ability to comply with Nasdaq’s continued listing requirements for our ordinary shares to remain listed on Nasdaq. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, the impact of increasing competition in the Indian travel industry and our expectations regarding the development of our industry and the competitive environment in which we operate; the slowdown in Indian economic growth and other declines or disruptions in the Indian economy in general and travel industry in particular, including disruptions caused by safety concerns, terrorist attacks, regional conflicts (including the ongoing conflict between Ukraine and Russia, the evolving events in Israel, Gaza and the Middle East, pandemics, macroeconomic factors, including tariff and trade issues, and natural calamities; our ability to successfully negotiate our contracts with airline suppliers and global distribution system service providers and mitigate any negative impacts on our Revenue that result from reduced commissions, incentive payments and fees we receive; the risk that airline suppliers (including our GDS service providers) may reduce or eliminate the commission and other fees they pay to us for the sale of air tickets; our ability to pursue strategic partnerships and the risks associated with our business partners; the potential impact of recent developments in the Indian travel industry, on our profitability and financial condition; political and economic stability in and around India and other key travel destinations; our ability to maintain and increase our brand awareness; our ability to realize the anticipated benefits of any past or future acquisitions; our ability to successfully implement our growth strategy; our ability to attract, train and retain executives and other qualified employees, and our ability to successfully implement any new business initiatives; our ability to effectively integrate artificial intelligence, machine learning and automated decision- making tools; non-compliance with Nasdaq’s continued listing requirements and consequent delisting of our ordinary shares from Nasdaq; and our ability to simplify our multi-jurisdictional corporate structure or reduce resources and management time devoted to compliance requirement. These and other factors are discussed in our reports filed with the U.S. Securities and Exchange Commission. All information provided in this earnings release is provided as of the date of issuance of this earnings release, and we do not undertake any obligation to update any forward-looking statement, except as required under applicable law. About Yatra Online, Inc. Yatra Online, Inc. is the ultimate parent company of Yatra Online Limited, a public listed company on the NSE and BSE (Hereinafter referred to as “Yatra India”), whose corporate office is based in Gurugram, India. Yatra India is India’s largest corporate travel services provider in terms of number of corporate clients with over 1,300 large corporate customers and approximately 58,983 registered SME customers and the third largest online travel company in India among key online travel agency (“OTA”) players in terms of gross booking revenue and operating revenue for Fiscal 2023 (Source: CRISIL Report). Leisure and business travelers use Yatra India’s mobile applications, its website, www.yatra.com, and its other offerings and services to explore, research, compare prices and book a wide range of travel-related services. These services include domestic and international air ticketing on nearly all Indian and international airlines, as well as bus ticketing, rail ticketing, cab bookings and ancillary services within India. With approximately 80,000 hotels and homestays in approximately 1,500 cities and towns in India as well as more than 2.5 million hotels around the world, Yatra India has the largest hotels inventory amongst key Indian OTA players. For more information, please contact: Bill Zima ICR Inc. Email: bill.zima@icrinc.com
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Yatra Online, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE LOSS FOR THREE MONTHS ENDED JUNE 30, 2025 (Amount in thousands, except per share data and number of shares) Three months ended June 30, 2024 2025 INR INR USD Unaudited Unaudited Unaudited Revenue Rendering of services 907,832 1,966,936 22,941 Other revenue 142,886 131,208 1,530 Total revenue 1,050,718 2,098,144 24,471 Other income 11,598 9,794 114 Service cost 203,954 941,853 10,985 Personnel expenses 359,249 403,588 4,707 Marketing and sales promotion expenses 92,157 100,831 1,176 Other operating expenses 380,158 465,778 5,432 Depreciation and amortization 60,922 91,510 1,067 Results from operations (34,124) 104,378 1,218 Finance income 65,814 35,070 409 Finance costs (28,606) (18,222) (213) Profit/(Loss) before taxes 3,084 121,225 1,414 Tax (expense)/benefit (3,847) (11,288) (132) Profit/(Loss) for the period (763) 109,937 1,282 Other comprehensive income/ (loss) Items not to be reclassified to profit or loss in subsequent periods (net of taxes) Remeasurement gain on defined benefit plan (1,205) (955) (10) Items that are or may be reclassified subsequently to profit or loss (net of taxes) Foreign currency translation differences loss 3,131 (223,290) (2,603) Other comprehensive profit/(loss) for the period, net of tax 1,926 (224,245) (2,613) Total comprehensive profit/(loss) for the period, net of tax 1,163 (114,308) (1,331) Profit/(loss) attributable to : Owners of the Parent Company (25,492) 52,896 617 Non-Controlling interest 24,728 57,041 665 Profit/(Loss) for the period (763) 109,937 1,282 Total comprehensive profit/(loss) attributable to : Owners of the Parent Company (23,137) (171,005) (1,994) Non-Controlling interest 24,299 56,697 661 Total comprehensive profit/(loss) for the period 1,163 (114,308) (1,331) Earnings/(Loss) per share Basic (0.41) 0.85 0.01 Diluted (0.41) 0.85 0.01 Weighted average no. of shares Basic 61,887,848 62,063,411 62,063,411 Diluted 61,887,848 62,303,094 62,303,094
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Yatra Online, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS JUNE 30, 2025 (Amounts in thousands, except per share data and number of shares) March 31, 2025 June 30, 2025 June 30, 2025 INR INR USD Audited Unaudited Assets Non-current assets Property, plant and equipment 136,824 134,986 1,574 Right-of-use assets 183,029 220,220 2,568 Intangible assets and goodwill 2,344,983 2,405,561 28,056 Prepayments and other assets 610 505 6 Other financial assets 90,714 91,787 1,071 Term deposits 44,770 120,249 1,402 Other non-financial assets 168,883 161,999 1,889 Deferred tax asset 22,519 21,557 251 Total non-current assets 2,992,332 3,156,864 36,817 Current assets Inventories 54 57 1 Trade and other receivables 5,568,241 5,074,060 59,180 Prepayments and other assets 2,163,456 2,506,320 29,232 Income tax recoverable 504,132 420,607 4,906 Other financial assets 64,722 75,793 884 Term deposits 1,309,400 1,418,872 16,549 Cash and cash equivalents 605,802 696,183 8,120 Total current assets 10,215,807 10,191,892 118,869 Total assets 13,208,139 13,348,756 155,689 Equity and liabilities Equity ` Share capital 863 864 10 Share premium 20,595,068 20,606,930 240,342 Treasury shares (418,555) (418,555) (4,882) Other capital reserve 412,232 408,981 4,770 Accumulated deficit (20,374,549) (20,322,265) (237,022) Non-controlling interest reserve 5,032,282 5,032,282 58,692 Foreign currency translation reserve 156,353 (66,937) (781) Total equity attributable to equity holders of the Company 5,403,694 5,241,300 61,129 Total Non-controlling interest 2,501,141 2,557,844 29,832 Total equity 7,904,835 7,799,144 90,961 Non-current liabilities Borrowings 20,744 18,478 216 Deferred tax liability 142,468 140,239 1,636 Employee benefits 65,830 67,434 786 Lease liability 186,339 210,019 2,449 Total non-current liabilities 415,381 436,170 5,087 Current liabilities Borrowings 525,120 10,336 121 Trade and other payables 2,953,069 3,150,819 36,749 Employee benefits 62,550 63,211 737 Deferred revenue 2,390 2,260 26 Income taxes payable 1,723 2,030 24 Lease liability 51,810 64,893 757 Other financial liabilities 93,924 111,539 1,301 Other current liabilities 1,197,337 1,708,354 19,926 Total current liabilities 4,887,923 5,113,442 59,641 Total liabilities 5,303,304 5,549,612 64,728 Total equity and liabilities 13,208,139 13,348,756 155,689
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Yatra Online, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THREE MONTHS ENDED JUNE 30, 2025 (Amount in INR thousands, except per share data and number of shares) Attributable to shareholders of the Parent Company Equity share capital Equity share premium Treasury shares Accumulated deficit Noncontrolling interest reserve Other capital reserve Foreign currency translation reserve Total Non- controlling interest Total Equity Balance as at April 1, 2025 863 20,595,068 (418,555) (20,374,550) 5,032,282 412,232 156,353 5,403,693 2,501,146 7,904,839 Loss for the period - - - 52,896 - - - 52,896 57,041 109,937 Other comprehensive loss Foreign currency translation differences - - - - - - (223,290) (223,290) - (223,290) Re-measurement gain on defined benefit plan - - - (611) - - - (611) (344) (955) Total other comprehensive loss - - - (611) - - (223,290) (223,901) (344) (224,245) Total comprehensive loss - - - 52,285 - - (223,290) (171,005) 56,697 (114,308) Share based payments - - - - - 10,340 - 10,340 - 10,340 Vested PSUs net settled for employee’s tax obligation - (1,728) - - - - - (1,728) - (1,728) Exercise of options 1 13,590 - - - (13,591) - - - - Own shares repurchase - - - - - - - - - - Total contribution by owners 1 11,862 - - - (3,251) - 8,612 - 8,612 Balance as at June 30, 2025 864 20,606,930 (418,555) (20,322,265) 5,032,282 408,981 (66,937) 5,241,300 2,557,844 7,799,144
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Yatra Online, Inc. UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THREE MONTHS ENDED JUNE 30, 2025 (Amount in thousands, except per share data and number of shares) Three months ended June 30, 2024 2025 2025 INR INR USD Profit before tax 3,084 121,225 1,414 Adjustments for non-cash and non-operating items 17,129 100,796 1,176 Change in working capital 681,390 1,057,053 12,329 Direct taxes (paid)/ refund (net) (3,819) 71,449 833 Net cash flows from operating activities 697,784 1,350,523 15,752 Net cash flows used in investing activities (633,673) (289,333) (3,375) Net cash flows used in financing activities (667,685) (690,402) (8,052) Net increase/decrease in cash and cash equivalents (603,575) 370,788 4,326 Effect of exchange differences on cash and cash equivalents 12,466 (223,273) (2,605) Cash and cash equivalents at the beginning of the period 1,741,950 605,802 7,066 Less: Bank overdrafts at the beginning of the period - (57,134) (666) Cash and cash equivalents at the end of the period 1,150,841 696,183 8,120
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Yatra Online, Inc. OPERATING DATA The following table sets forth certain selected unaudited condensed consolidated financial and other data for the periods indicated: For the three months ended June 30, (In thousands except percentages) 2024 2025 Quantitative details * Air Passengers Booked 1,330 1,206 Stand-alone Hotel Room Nights Booked 417 423 Packages Passengers Travelled 7 19 Gross Bookings Air Ticketing 13,520,293 14,103,223 Hotels and Packages 2,398,832 3,433,322 Other Services 628,524 521,309 Total 16,547,649 18,057,854 Adjusted Margin Adjusted Margin - Air Ticketing 918,951 982,517 Adjusted Margin - Hotels and Packages 277,141 380,148 Adjusted Margin - Other Services 72,117 71,905 Others (Including Other Income) 154,484 141,002 Total 1,422,693 1,575,572 Adjusted Margin%** Air Ticketing 6.8% 7.0% Hotels and Packages 11.6% 11.1% Other Services 11.5% 13.8% * Quantitative details are considered on Gross basis. ** Adjusted Margin % is defined as Adjusted Margin as a percentage of Gross Bookings.