UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
under
the Securities Exchange Act of 1934
November
14, 2023
Commission
File Number: 001-37968
YATRA
ONLINE, INC.
Gulf
Adiba, Plot No. 272,
4th
Floor, Udyog Vihar, Phase-II,
Sector-20,
Gurugram-122008, Haryana
India
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Other
Events
As
previously announced, Yatra Online Limited (“Yatra India”), a subsidiary of Yatra Online, Inc. (the “Company”),
successfully completed its initial public offering of its equity shares in India and is currently listed on the National Stock Exchange
of India Limited (NSE: YATRA) and on the BSE Limited (BSE: YATRA).
On
November 14, 2023, Yatra India announced its financial and operating results for the three months and six months ended September 30,
2023 in India. A copy of the Earnings Press Release, Unaudited Standalone Financial Results filed with the Securities and Exchange Board
of India (“SEBI”) and Unaudited Consolidated Financial Results filed with SEBI are attached hereto as Exhibit 99.1, Exhibit
99.2 and Exhibit 99.3, respectively.
This
Report on Form 6-K is being furnished solely to reflect material updates to the Company’s business prior to the Company’s
earnings release announcing its unaudited financial and operating results for the three months ended September 30, 2023.
Exhibit
Index
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
| |
YATRA
ONLINE, INC. |
| |
|
| Date:
November 14, 2023 |
By: |
/s/
Dhruv Shringi |
| |
|
Dhruv
Shringi |
| |
|
Chief
Executive Officer |
Exhibit
99.1
YATRA
ONLINE LIMITED REPORTS CONSOLIDATED REVENUE OF INR 941 Mn IN Q2-FY24
REPRESENTING 14% YoY GROWTH
November
14th 2023: 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* announces its results for the second quarter of financial year 2023-24.
*
Note: Largest in terms of gross booking revenue and operating revenue, for Fiscal Year 2023. (Source: CRISIL Report)
Q2-FY24
Consolidated Financial Performance:
Revenue
from Operations
INR
941 Mn
YoY:
+14% |
EBIDTA
INR
(60) Mn
|
Adjusted
EBIDTA*
INR
106 Mn |
Net
Loss
INR
(171) Mn
|
*
Adjusted for these one-time costs consolidated PBT would amount to INR 3.29 Mn for the Q2-FY24 period
Q2-FY24
Financial Highlights:
| ● |
Yatra
has registered a 14.2% YoY growth in revenue from operations in Q2-FY24 |
| ● |
Yatra
has booked one-time costs pertaining to IPO related listing fee and ESOPs amounting to INR 165.6 mn in Q2-FY24 |
| ● |
Other
expenses have reduced by 23% YoY reflecting operating leverage |
| ● |
Finance
costs reduced by 14.7% YoY on account of better working capital management |
Q2-FY24
Operational Highlights:
| ● |
Yatra
domestic air passenger growth of 28% YoY outpaced industry growth of 23% YoY as we continue to gain market share |
| ● |
Gross
bookings grew 10.2% YoY to INR 17,504 Mn. This was despite air ticket prices being lower by 14.7% during same period |
| ● |
B2B
business was impacted by muted business travel spends across IT/ITES clients |
| ● |
We
continue to expand our corporate client base and closed 13 new corporate accounts during the quarter. Subsequent to the end of the
quarter we have closed a few large customers including Welspun and an MNC account where we will manage their travel across multiple
regions in Asia |
Management
Comments:
Commenting
on the results, Whole Time Director & Chief Executive Officer, Mr. Dhruv Shringi stated: “This marks the third consecutive
quarter of Yatra’s market share gain in the air domestic market as our growth in passenger count continues to outpace the overall
domestic numbers shared by DGCA. This impressive growth was achieved while optimizing consumer promotion spends. Given the recent IPO
and the stronger balance sheet we expect supplier margin expansion over the next few quarters. We further expect a reduction in finance
costs as working capital continues to rationalize. As we move forward armed with a significantly healthier balance sheet post IPO, we
are optimistic and committed to leveraging these positive trends to drive further growth and success.”
Financial
Statements:
Results
for the quarter ended September 30, 2023, prepared under Ind AS, along with segment results, are available in the Investor Relations
section of our website https://investors.yatra.com/Investor-Relations-India/
Quarterly
Conference Call:
The
earnings conference call will be held on Wednesday, November 15, 2023 at 04:30 PM (IST) to discuss the Financial Results and performance
of the company for the quarter ended September 30, 2023. The earnings conference call will be accessible from all networks and countries
through universal access dial-ins +91 22 6280 1341 / +91 22 7115 8242 also accessible at: https://bit.ly/3MkD9gA
Further,
the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and shall also be hosted on the Company’s
website at https://investors.yatra.com/Investor-Relations-India/
About
Yatra Online Limited:
● Yatra
Online Limited (BSE: 543992, NSE: YATRA) is India’s largest corporate travel services provider and the third largest online travel
company in India among key OTA players in terms of gross booking revenue and operating revenue, for Fiscal Year 2023. (Source: CRISIL
Report). Through the website, www.yatra.com, mobile applications, Corporate SaaS platform, and other associated platforms, leisure and
business travelers can explore, research, compare prices and book a wide range of services, which include domestic and international
air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services catering
to the travel needs.
● International
market experience in terms of its ultimate holding company being a NASDAQ listed company.
● Experienced
management team and strong corporate governance comprising industry executives with deep roots in the travel industry with 90+ years
of accumulated experience.
Contact
Information:
Mr.
Manish Hemrajani
VP
- Corporate Development & Investor Relations,
Yatra Online, Inc.
Email:
manish.hemrajani@yatra.com |
Investor
Relations Representative:
Valorem
Advisors
Mr.
Anuj Sonpal
Tel:
+91-22-49039500
Email:
yatra@valoremadvisors.com |
Exhibit 99.2
Exhibit 99.3
Yatra Online (NASDAQ:YTRA)
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