Indian travel agency Yatra Online's Q2 revenue falls on lower MICE business
YTRA•Yatra Online's Q2 revenue fell 39% year over year, mainly due to lower MICE business, while gross bookings rose 5.6%. The company posted a net loss, citing higher personnel and operating expenses.
1. Revenue and bookings
Yatra Online said Q2 revenue fell 39% year over year, mainly because of a sharp decline in MICE business, which is recognized on a gross basis. Gross bookings rose 5.6% despite softer travel market conditions.
2. Business pressures and plans
The company posted a net loss versus a profit a year earlier, citing higher personnel and operating expenses. Hotels and Packages bookings declined as corporates deferred or resized MICE programs amid higher travel costs, while air ticketing gross bookings and adjusted margin rose.
3. Outlook
Yatra cited ongoing geopolitical and aviation-related uncertainties affecting the travel market. It plans to rebuild its MICE segment as corporate demand recovers, scale its Hotels business, and improve profitability and efficiency through technology and automation.
