IPO-bound Yatra.com is expecting to reach its pre-covid level booking numbers by the end of Q2 of FY23.
Speaking to BusinessLine, Sabina Chopra Co-Founder of Yatra Online said that domestic passenger traffic in May 2022 was back to 90 per cent of pre-Covid levels for Yatra.com. “Further, despite the effect of Omicron year over year, hotel gross bookings and room nights grew by 7.9 per cent.”
Even within the hotel segment, Sabina Chopra says that there has been a sharp spike in homestay bookings “because people want the privacy, and they want to spend time together.”
Within domestic travel, “Spiritual travel is at its peak this quarter. Places like Ladakh, Rishikesh, and Haridwar have picked up pace like never before.”
“However, speaking about international travel is taking a little more time to come back to pre-covid levels compared to domestic travel. However, we are expecting it to pick up pace soon. “The only dampeners are the delay in visas and the higher fuel prices.”, Chopra adds.
Regarding the company’s revenues mix, Chopra said that its air business contributes the highest to its revenues followed by hotels. When it comes to corporate travel, she said that both air ticket booking and hotel bookings contribute equally to its revenues.
FY22 Results
Its revenue soared 56.5 per cent to ₹198.9 Crore in FY22 due to a recovery in domestic travel demand. It posted a 59.6 per cent decline in its loss for FY22 ₹48.2 Crore.
Its revenue from the air-ticketing business rose to ₹115.05 Crore in FY22 from ₹89.3 Cr during the same period last year. The hotel and packages vertical grew by 200 per cent to ₹52 Crore in the year ended March 2022.
B2B businesses
Yatra.com also has B2B businesses, “Our corporate travel business is currently trending at 90 per cent plus of pre-COVID levels. The gross bookings for business travel where we are the market leaders grew 161 per cent year over year in the March quarter and are trending to exceed 90 per cent of their pre-COVID levels in May 2022, levels not seen since February 2020.”
According to Yatra.com, it has added several big clients including Minda Group, Kotak Life Insurance, TAFE and Columbus Global among others.
Yatra.com which is listed on NASDAQ has also filed its DRHP for a dual IPO in March this year. Chopra said that the company is likely to finish the process by this year end.