Yatra’s Q4 Profit Drops 46%, Revenue Declines

Online travel aggregator Yatra witnessed a significant 46.1% year-over-year decline in its consolidated net profit for the fourth quarter of fiscal year 2026, reporting ₹8.2 crore compared to ₹15.2 crore in the same period last year. This downturn follows a 1.6% sequential decrease in profit after tax (PAT) from the previous quarter.

The company’s revenue from operations also experienced a contraction, falling nearly 14% to ₹189 crore from ₹218.9 crore in the corresponding quarter of the previous fiscal year. Sequentially, the top line saw a more substantial drop of 26.4% from ₹256.8 crore in the prior quarter.

Despite the quarterly decline, Yatra reported a strong performance for the full fiscal year 2026. Net profit for the year surged by approximately 28% to ₹46.8 crore, up from ₹36.6 crore in FY25. Revenue from operations for the full year increased by 27.2% to ₹1,006.5 crore, compared to ₹791.4 crore in FY25.

Revenue less service cost (RLSC), a key indicator of gross margin, saw a modest year-over-year increase of 3.6% to ₹113.3 crore in Q4 FY26. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) improved by 45.5% year-over-year to ₹12.6 crore, with an EBITDA margin of 11.2% for the quarter.

Yatra CEO Siddhartha Gupta attributed the full-year performance to strong execution despite a volatile macro and geopolitical environment. He highlighted a 24.5% RLSC growth and 37.5% adjusted EBITDA growth, indicative of operating leverage and disciplined cost management.

The company also noted that geopolitical tensions had a notable impact on its MICE (meetings, incentives, conferences, and exhibitions) business, leading to cancellations and deferrals of Q4 bookings. Yatra anticipates a recovery in this segment as conditions normalize.

Looking ahead, Yatra projects a 30% adjusted EBITDA growth rate for the current fiscal year, expressing optimism for FY27. This outlook is supported by the structural growth in India’s travel and corporate mobility markets and Yatra’s continued investments in AI technology, customer acquisition, hotel supply, and its B2E (Business-to-Employee) platform. The management remains confident in achieving a medium-term growth CAGR of 20% for RLSC and 30% for adjusted EBITDA.