Yatra Online Ltd (NSE:YATRA) Q3 2026 Earnings Call Highlights: Strong Revenue Growth Amid …

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Fri, February 13, 2026 at 10:06 AM GMT+9 3 min read

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Release Date: February 12, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Yatra Online Ltd (NSE:YATRA) reported a 9% year-on-year growth in revenue from operations, driven by strong demand in key segments, particularly air ticketing.

The company achieved a 22% year-on-year increase in gross bookings for air ticketing, significantly outperforming the industry growth of about 1%.

Yatra Online Ltd (NSE:YATRA) onboarded 40 new corporate clients in the quarter, adding an annual billing potential of INR2.2 billion.

The company's corporate travel business continues to show strong momentum, with a focus on scaling and increasing online penetration, which is currently at 70%.

Yatra Online Ltd (NSE:YATRA) is leveraging AI and tech innovations to enhance customer experience and drive growth, particularly in the B2C segment.

Negative Points

The third quarter experienced disruptions due to stricter flight duty travel limitations, leading to operational challenges and a spike in cancellations.

Profit after tax decreased by 17% year-on-year, largely due to a one-time charge related to the implementation of new labor codes.

The company faced incremental working capital deployment due to advance payments to vendors for deferred mice group bookings.

There was a modest impact on the hotels and packages segment due to flight disruptions, affecting the mice and corporate events subsegment.

Yatra Online Ltd (NSE:YATRA) experienced a decline in take rates in the hotels and packages segment from 12.2% to 11.7% year-on-year due to a change in business mix.

Q & A Highlights

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Q: What has driven the strong growth in Yatra’s air segment despite disruptions? A: The growth in the air segment was driven by both B2C and corporate sides. On the corporate side, new customizations and volume benefits from new customer additions contributed to growth. In B2C, tech innovations aimed at driving demand with positive unit economics have been effective. The focus has shifted from just driving volume to achieving profitable growth, supported by tech interventions over the last few quarters. (Respondent: Unidentified_3)

Q: Can you elaborate on the tech innovations in the air segment and the focus on partnerships and affiliates for demand generation? A: Tech innovations have focused on better conversion and upsell opportunities, such as selling seat, meal, baggage add-ons, branded fares, and NDC fares to drive up revenue per customer. This creates more headroom for proactive customer acquisition. On the affiliate side, strong growth is driven by partners, especially in the hotel segment, leveraging Yatra’s extensive domestic hotel inventory. (Respondent: Unidentified_3)

Story Continues  

Q: What is the strategy for Yatra’s business moving forward, and are there any new initiatives or products planned? A: The focus is on enhancing corporate solutions, such as the expense management solution, which completes the offering for corporate travel needs. The company is also working on AI-based tools to improve efficiencies and deliver more value. The tech team is active in improving platform maturity and API-based integrations with partners to optimize supply and demand. (Respondent: Unidentified_4)

Q: How is the corporate travel business expected to grow with the new sales initiatives? A: The corporate travel business is expected to grow with a three-pronged go-to-market strategy: focusing on existing large accounts, targeting small and medium enterprises with a new sales leader and inside sales team, and an elite sales team for large customer acquisitions. This strategy is aligned with the company’s larger growth plans. (Respondent: Unidentified_4)

Q: What are the early metrics and potential revenue from the new expense management solution? A: The expense management solution is being used as a retention tool and to acquire new customers. The feedback has been positive, with expectations to add between 5 to 7 crores of revenue in FY27. The focus is on customer adoption, with revenue expected to scale up as the customer base grows. (Respondent: Unidentified_3)

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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