We are discussing Yatra Reported a Net Loss of RS 4.5 Crore in FY24:
An Online Travel Agency, Yatra, has reported a net loss of Rs 4.5 crore in FY24. Last Fiscal year, the company had a net profit of Rs 2.6 crore. The startup has worked well in the traveling market in past years. However, it reported a 10 percent year-on-year decrease by the end of March during the fiscal year. The startup’s gross revenue grew 11 percent to Rs 380 crore INR in FY23.
Yatra was founded by Manish Amin, Sabina Chora, and Druv Shringi to offer real-time hotel reservations, flight bookings, and train bookings. The company has been offering its product to various business clients globally. The CEO of Yatra, Dhruv Shingri, mentioned that the startup had a 12% YoY increase in its gross booking during Q4 FY24, with a 13.5% increase in air gross booking.
Some reports reasoned the net loss increased due to increased marketing expenses, service costs, and employee benefits. Yatra launched an expense management solution to help domestic and global enterprises manage their expenditure efficiently through expense tracking. The company claims to have the largest public sector bank in India as a customer. The company’s strategic initiatives and market position will help it recover from loss and growth in the online travel industry. According to Inc42, This Online travel agency added 25 new corporate accounts in Q4 FY24 to expand its corporate client base.
According to reports, India has seen a rapid increase in the online travel market. The main focus of his startup is to provide information, availability, pricing, and bookings for domestic and global travel, as well as offer real-time hotel bookings. The startup also offers affordable and easy bookings to all its customers. The company claims to offer India’s Travel Planners a best-in-class customer experience. Yatra competes with other online travel agencies, including EseMyTrip and MakeMyTrip.
Conclusion
An online travel Agency, Yatra, reported gross revenue of Rs 380 crore, marking an 11% increase from the previous fiscal year. However, it reported a 10 percent year-on-year decrease by the end of March during the fiscal year. The startup’s gross revenue grew 11 percent to Rs 380 crore INR in FY23. Founded by Manish Amin, Sabina Chora, and Druv Shringi to offer services including hotel reservations, flight bookings, and holiday packages. The company has been developing and enhancing its platform while offering services to various business clients globally.
The CEO of Yatra, Dhruv Shimgri, mentioned that the startup had a 12% YoY increase in its gross booking during Q4 FY24, with a 13.5% increase in air gross booking. Despite the loss, the company’s strategic initiatives and market position will help it recover from the loss and help it grow further in the online travel industry. The company claims to offer India’s Travel Planner the best-in-class customer experience. Yatra competes with other online travel agencies, including EaseMyTrip and MakeMyTrip, among others.
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