Yatra posts Rs 256.8 crore revenue in Q3 FY26, profit falls 17% to Rs 8.3 crore

Yatra Online Limited has reported its financial results for the third quarter of FY26, reflecting steady year-on-year growth despite disruptions in the domestic aviation sector.

The online travel aggregator posted consolidated operating revenue of Rs 256.8 crore in Q3 FY26, up 9% from Rs 235.2 crore a year earlier. Including other income of Rs 4.8 crore, total income stood at Rs 261.5 crore.

On a sequential basis, revenue declined 27% from Rs 350.8 crore in Q2 FY26. Revenue less service cost, or RLSC, which the company reports as gross margin, rose 23% year-on-year to Rs 127.7 crore from Rs 104.1 crore.

Gross margin percentage improved marginally to 5.9% from 5.8% last year. EBITDA increased 64% to Rs 23.9 crore, with EBITDA margin expanding to 18.7% from 14% in Q3 FY25.

Profit after tax stood at Rs 8.3 crore, compared with Rs 10 crore in the year-ago period, a decline of 17%. On a quarter-on-quarter basis, PAT fell 42% from Rs 14.2 crore. The quarter included a one-time statutory charge of Rs 3.8 crore related to the implementation of new labour codes, classified as an exceptional item of Rs 3.8 crore. Excluding this impact, net profit grew 21% year-on-year.

Total expenses rose 8% to Rs 248.7 crore from Rs 231.2 crore in the corresponding quarter last year. Gross bookings grew 21% year-on-year to Rs 2,175.9 crore.

Air passenger volumes increased 14% to 14.91 lakh, while gross air bookings rose 22% to Rs 1,693.1 crore. Air gross margins improved to 3.6% from 3.4%.

In the hotels and packages segment, gross bookings increased to Rs 430.6 crore from Rs 360.3 crore, and hotel room nights rose to 5.08 lakh from 4.18 lakh.

Gross margins in this segment expanded to 10.2% from 9.7%. During the quarter, the company added 40 new corporate customers with an estimated annual revenue potential of Rs 223.4 crore. It noted that while Q3 is typically strong for leisure travel, it remains seasonally soft for corporate travel.

The quarter was also affected by airline disruptions following stricter Flight Duty Time Limitation norms implemented in December, with an estimated air transaction value impact of around Rs 48 crore. The corporate and MICE businesses were impacted, with a significant portion of MICE activity deferred to Q4 FY26 and Q1 FY27.

Commenting on the results, Executive Chairperson and Whole Time Director Dhruv Shringi said, “I am pleased to report another strong quarter despite significant disruption in the airline industry in India during the quarter. We continue to deliver results ahead of our revised guidance with RLSC growth coming in at 23% and Adjusted EBITDA grew 41% YoY. During the period ended 31st December 2025 our Adjusted EBITDA and PAT exceeded our full year FY 2025 performance, positioning us well for a strong FY 2026. During the quarter we also strengthened our management team with the appointment of Siddhartha Gupta as our CEO. Siddhartha brings with him a wealth of B2B experience having led large B2B SAAS businesses. I extend my sincere thanks to our dedicated team, trusted partners, and supportive shareholders.”

CEO Siddhartha Gupta said, “Our B2C business continued its recovery trajectory during the quarter backed by strong seasonal tailwinds. This business now is demonstrating steady growth with profitable unit economics. Our corporate and MICE businesses both got impacted by the disruption in the domestic aviation industry in India with significant amount of MICE business getting pushed into Q4’26 and Q1’27. Our focused execution enabled us to improve our Gross Margins across Air and Hotels & Packages despite tough macro environment. Looking ahead, we remain focused on scaling high-margin segments, deepening technology capabilities, and driving sustainable long-term value for stakeholders.”

For the nine months ended FY26, Yatra reported consolidated revenue of Rs 817.5 crore, up 43% year-on-year. RLSC rose 33% to Rs 369.1 crore. EBITDA more than doubled, increasing 124% to Rs 72.9 crore, with EBITDA margin improving to 19.7%.

Net profit for the period stood at Rs 38.6 crore, up 81% year-on-year. Excluding the exceptional item of Rs 3.8 crore, net profit growth was 99% year-on-year.