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Yatra churns profits in Q3 FY24, revenue crosses Rs 110 Cr

EntrackrEntrackr · 1y ago
Yatra churns profits in Q3 FY24, revenue crosses Rs 110 Cr
Medial

Online travel aggregator (OTA) Yatra has released its financial results for the third quarter of the ongoing fiscal year (Q3 FY24). After sinking into the red in Q2, the company bounced back and recorded profits in Q3 along with crossing Rs 110 crore revenue mark during the period. Yatra’s revenue from operations grew 17.2% to Rs 110.3 crore in Q3 FY24 as compared to Rs 94.13 crore Q2 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange. While compared to Q3 of the previous fiscal year (Q3 FY23), the operating revenue of the company increased over 23% from Rs 89.6 crore. The company made 40.3% of its total operating revenue via Hotels and packages bookings which grew 23.4% to Rs 44.5 crore in Q3 FY24 from Rs 36.06 crore in Q2 of the same financial year. Revenue from air ticketing increased 5.9% to Rs 41.5 crore during the same period. The remaining Rs 24.3 crore came from other operating services and advertising income from hosting ads on its website, sale of coupons and vouchers and facilitating website access to travel insurance company. Yatra also earned Rs 8.86 crore as non-operating income (mainly from interest and gains on financial assets). This took the overall revenue to Rs 119.2 crore during the quarter. On the cost front, service cost which only relates to its hotel and packages vertical accounted for 23% of the total expenses. This cost surged 68.7% to Rs 26.9 crore in Q3 from Rs 15.95 crore in Q2 of the same fiscal. Whereas, employee benefits expenses for the company shrank 12.6% to Rs 32 crore during the quarter from Rs 36.6 crore in Q2 FY24. Yatra also incurred marketing and promotion costs of Rs 10.7 crore and payment gateway expense of Rs 12.7 crore in Q3 FY24. In total, Yatra’s overall expenditure increased just 3% to Rs 117 crore during Q3 from Rs 113.6 crore in Q2 FY24. With the controlled expenses, Yatra turned profitable and booked Rs 1.06 crore profits Q3 against Rs 17.13 crore loss in the previous quarter. Last year in the same quarter (Q3 FY23), it posted Rs 5.6 crore in losses. On a unit level, Yatra Online spent Re 1.06 to earn a rupee of operating revenue in Q3 of FY24. For the nine-months period (Apr-Dec 2023), the firm registered Rs 314.6 crore revenue from operations with a loss of Rs 10.08 crore. Yatra Online made its entry into the Indian public market in September last year with a share price of around Rs 136. With a market cap of over Rs 2,700 crore, it is currently trading at Rs 170 per share. Other than this, the company is also listed on NASDAQ with a current share price of $1.64 per share and a market cap of $105 million.

Go Digit reports flat growth in Q2 FY25, profit soars 3.2X

EntrackrEntrackr · 8m ago
Go Digit reports flat growth in Q2 FY25, profit soars 3.2X
Medial

Go Digit General Insurance Limited reported modest financial performance, with its operating revenue (net premium) increasing by 3.7% to Rs 1,891 crore in Q2 FY25 from Rs 1,824 crore in Q1 FY24. During the period, the firm’s gross premium witnessed an 11% dip. Net premiums written also saw a dip of 5% this quarter, reaching Rs 1,927 crore in Q2 FY25 compared to Rs 1,821 crore in the same quarter last year, according to its quarterly results reported on the NSE. Additionally, income from investments grew significantly, reaching Rs 284 crore in Q2 FY25, compared to Rs 211 crore in the same quarter of FY24, driven by a stronger investment portfolio performance. Total income for Q2 FY25 stood at Rs 2,175 crore, up from Rs 1,868 crore in the corresponding quarter of the previous year, showcasing overall financial growth for the company during this period. Go Digit experienced rising expenses in Q2 FY25, including commissions and brokerage costs, which amounted to Rs 572 crore, up from Rs 533 crore in Q2 FY24. Employee benefits also saw an increase, with expenses totaling Rs 90.5 crore in Q2 FY25. Moreover, operating expenses related to business development, sales promotion, and other operations grew significantly, and stood at Rs 132 crore in Q2 FY25. These increases contributed to the overall rise in the firm's expenses during the quarter. In terms of claims, the company paid out Rs 851 crore in claims during Q2 FY25, up from Rs 763 crore in Q2 FY24. There was also a change in outstanding claims, with an increase to Rs 483 crore in Q2 FY25 compared to Rs 315 crore in Q2 FY24. Despite the higher income, the underwriting loss for Q2 FY25 was Rs 244.83 crore, a slight increase from Rs 219.33 crore in the previous year. At the end, GoDigit’s profit surged 3.2X to Rs 89 crore during the quarter ending September 2024 as compared to the same quarter in FY24.

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