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Yatra Online Ltd

Q1 FY27Leisure Services

Yatra Online Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹114
Market cap₹1.8K Cr
P/E52.0
Updated25 Aug 2026
Read4 min read

What the Q1 FY27 call signalled

3 of 4 strong

RevenueRank 3
MarginRank 1
CapexYes
Order bookYes

Not discussed on this call: fundraise.

The short version

Yatra expects midterm adjusted EBITDA margins to reach 30%+ driven by operating leverage and corporate business growth. Yatra expects adjusted EBITDA margins to recover to 20%+ in the second half of the year as MICE recovers, air margins stabilize, and corporate travel grows.

From Yatra Online Ltd's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.

Revenue & Sales Performance

Rank 3
  • Yatra expects midterm adjusted EBITDA margins to reach 30%+ driven by operating leverage and corporate business growth.
  • Air passenger volume grew 5% YoY, nearly twice the market growth, signaling continued volume increase.
  • Hotel bookings and room nights grew ~13% and ~30% YoY respectively; stand-alone hotel business seeing strong growth (~34% gross bookings growth).
  • Gross bookings increased 16.5% YoY to INR21,007 million despite macro challenges.
  • Corporate segment added 53 new customers with INR2,223 million annual billable potential, providing healthy pipeline.
  • Travel Pro (MSME segment) showing strong growth, with bookings trending 20-30% higher in Q2 and increasing logo acquisitions.
  • MICE segment is stabilizing after transformation, with Q2 bookings ~50% higher than Q1.
  • The Middle East partnership (Kanoo Travel) expected to expand international growth over time.
  • Overall, Yatra aims for sustainable profitable growth leveraging its diversified B2B and B2C mix and expanding addressable markets.

Profitability & Margins

See what Yatra Online Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes
- Yatra is investing in strengthening and scaling its core B2B business, including the Travel Pro platform aimed at MSMEs, with ongoing investments in people, platform, and go-to-market capabilities. - Continued investments are being made in product and technology for RECAP, their expense management solution, to develop it into a meaningful growth engine. - Yatra has invested over the last two quarters in making its corporate technology platform global-ready, including product, infrastructure, solutions, and teams, to support international deployment. - Partnership with Kanoo Travel to expand into the Middle East is a strategic investment, involving building capacity ahead of expected future revenues. - Current investments in technology infrastructure include hosting platforms like GCP cloud, and hiring/training staff for new projects such as Kanoo. - Working capital management initiatives include developing corporate card products with banks to reduce working capital intensity, though these have a long lead time. These investments highlight a focus on future growth despite short-term turbulence.

Top-ranked in Leisure Services

Ranked on what management guided this quarter

5x potential
1Landmark Global
Rev 2Mar 1
2Jubilant Food.
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Yatra Online Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes
  • The MICE segment experienced a transformation impacting order sizes and margins, shifting from international group travel to domestic group travel.
  • This transformation phase concluded by Q1 FY27, and current pipelines are stabilizing with improved margin profiles.
  • MICE bookings in Q2 are trending approximately 50% higher than Q1, indicating strong recovery.
  • Corporate business remains robust, with 53 new corporate customers added in Q1, representing an expected annual billable potential of INR 2,223 million.
  • Travel Pro, the MSME offering, saw 30 new logos contributing to INR 80 crores out of INR 140 crores from new wins, with strong growth trending 20-30% higher in Q2.
  • Overall pipeline and order book for both MICE and corporate travel show healthy momentum with improving margins and increasing volumes.

Yatra Online Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹189 Cr, net profit ₹8 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Yatra Online Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Yatra Online Ltd Q1 FY27 results?

Yatra expects midterm adjusted EBITDA margins to reach 30%+ driven by operating leverage and corporate business growth. Yatra expects adjusted EBITDA margins to recover to 20%+ in the second half of the year as MICE recovers, air margins stabilize, and corporate travel grows.

What is Yatra Online Ltd share price analysis?

Yatra Online Ltd currently shows a below-average growth signal. The stock trades at a P/E of 52.0 with a market cap of ₹1,789 Cr. Investors should review the full earnings analysis for detailed insights.

Is Yatra Online Ltd planning capital expenditure?

Yatra is investing in strengthening and scaling its core B2B business, including the Travel Pro platform aimed at MSMEs, with ongoing investments in people, platform, and go-to-market capabilities.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.