New Delhi: Yatra Online Limited. {BSE: 543992 & NSE: YATRA}, India’s largest corporate travel services provider and the third largest online travel company in India among key OTA players, announced its results for the fourth quarter of the financial year 2025-26.
FY 2026 Business Highlights:
Yatra reported its most profitable year in its history despite some very significant macro headwinds that impacted 3 out of the 12 months of the year.
* Gross Margin (RLSC) for the year grew 24.5% YoY to INR 4,824 Mn, ahead of the revised guidance of 22.5%
* Adjusted EBITDA of INR 917 Mn, a YoY growth of 37.5% came in line with revised guidance while EBITDA improved to INR 855 Mn, a YoY growth of 53.2%.
* PAT improved to INR 468 Mn, a YoY growth of 28.1%. The PAT growth for the year was adversely impacted by the introduction of the new wage code in Q3, excluding the effect of which the PAT for the year would have been INR 506 Mn, a YoY growth of 38.5%.
Q4-FY26 Business Highlights:
Despite disruption from the war-related environment, Yatra reported resilient operating performance:
* Gross bookings grew 8.3% YoY
* Gross margin grew 3.6% YoY
¢ Total transactions increased 15.2% YoY
* Air passengers grew 9.6% YoY, roughly 2x industry growth, reflecting further market share expansion.
* The Corporate business maintained strong momentum, adding 55 new corporate customers during the quarter, representing an annual billable potential of INR 2,709 Mn. This compares favourably with 40 closures worth INR 2,234 million in Q3
However, the war-related disruption significantly affected the company’s MICE (Meetings, Incentives, Conferences & Exhibitions) business, particularly international corporate group travel. Several Q4 bookings were either cancelled or deferred into FY27.
