Yatra Online Ltd
Yatra Online Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Corporate segment growth driven by both new client acquisition and existing clients scaling up; current onboarding at 1,300+ corporates with many ramping up to 60-70% of potential spend. Adjusted EBITDA growth guidance raised from 30% year-over-year to 35%-40%, indicating strong operating earnings growth.
From Yatra Online Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Corporate segment growth driven by both new client acquisition and existing clients scaling up; current onboarding at 1,300+ corporates with many ramping up to 60-70% of potential spend. Incremental growth expected around 5-10% from existing clients.
- B2B business continues steady quarter-on-quarter growth with positive unit economics; B2B share ~67%.
- B2C segment showing strong momentum, driven by fresh customer acquisition and cross-selling of value-added products; expected to sustain volume growth and market share increase.
- Overall revenue less service cost growth guidance raised to 22-23% for FY '26, with EBITDA growth guidance increased to 35-40%.
- Air ticketing volumes expected to improve with industry volumes projected to be 2-3% higher YoY, boosted by good festive demand.
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Profitability & Margins
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Capital Expenditure Plans
- Yatra Online Limited is currently incurring incremental costs related to migration to the Google Cloud Platform (GCP), which is a strategic technology investment aimed at improving customer service and operational efficiency.
- These migration costs are expected to stabilize soon, with an anticipated cost reduction of INR 1 to 2 crores in the coming quarters.
- The company is investing in expanding its sales team, particularly for corporate travel, MICE, and expense management sales, to capture growth opportunities and deliver quick returns on investments.
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Top-ranked in Leisure Services
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Yatra Online Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): 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
- Q1 FY27 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q2 FY24 earnings call →
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Frequently Asked Questions
What were Yatra Online Ltd Q2 FY26 results?
Corporate segment growth driven by both new client acquisition and existing clients scaling up; current onboarding at 1,300+ corporates with many ramping up to 60-70% of potential spend. Adjusted EBITDA growth guidance raised from 30% year-over-year to 35%-40%, indicating strong operating earnings growth.
What is Yatra Online Ltd share price analysis?
Yatra Online Ltd currently shows a neutral. The stock trades at a P/E of 43.7 with a market cap of ₹1,504 Cr. Investors should review the full earnings analysis for detailed insights.
Is Yatra Online Ltd planning capital expenditure?
Yatra Online Limited is currently incurring incremental costs related to migration to the Google Cloud Platform (GCP), which is a strategic technology investment aimed at improving customer service and operational efficiency.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.