Yatra Online's 2026 Q1 Earnings Call: Unpacking Key Contradictions in Restructuring, Acquisitions, and Market Dynamics

Restructuring timeline and complexities, acquisition opportunities, corporate travel growth and market share, restructuring and cost savings, market share in corporate travel are the key contradictions discussed in Yatra Online, Inc.'s latest 2026Q1 earnings call.



Revenue and Profit Growth:
- Yatra Online, Inc. reported revenue of INR 2.098 billion (USD 24.5 million) for Q1 FY 2026, up 99.7% year-over-year.
- The growth was driven by strong momentum in the corporate travel segment and higher-margin hotels and packages business.

Adjusted EBITDA and Profitability:
- Yatra reported an adjusted EBITDA of INR 206 million (USD 2.4 million), up 214% year-over-year.
- Profit for the quarter stood at INR 110 million (USD 1.3 million), compared to a loss of INR 0.8 million in the previous year.
- The improvement was due to disciplined execution and the benefits of new technology initiatives.

Corporate Travel Segment:
- Yatra onboarded 34 new corporate clients collectively adding an annual billing potential of approximately INR 2 billion.
- This growth was driven by rapid adoption of digital booking platforms and integrated expense management solutions.

MICE (Meetings, Incentives, Conventions, and Events) Business:
- Gross bookings for the MICE business increased by 43% year-on-year to INR 3,433 million.
- Growth was supported by increasing demand for branded hotels and curated packages from both leisure and MICE travelers.