Yatra Online Limited · NSE:YATRA
Yatra Online — Q3 FY26 Earnings Presentation
26 slides from Yatra Online's earnings presentation, Feb 11, 2026
Slide 1: Intimation of Investor Presentation to Stock Exchanges
CIN NO: L63040MH2005PLC158404 February 11, 2026 Listing Manager, Manager - CRD National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1 Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E) Dalal Street, Mumbai – 400051, India Mumbai – 400001, India Symbol: YATRA Scrip C
Slide 2: Yatra Online Limited Earnings Presentation Q3/9M-FY26
Yatra Online Limited Earnings Presentation Q3/9M-FY26
Slide 3: Company Overview
Company Overview • Established in 2006, Yatra has a strong track record of building a scalable and sustainable travel Revenue & Revenue Less Service Cost (Gross Margin) (INR Mn) business. 7,914 8,175 • The company follows a multi-channel approach with a go-to-market strategy that spans the entire tr
Slide 4: Business Segments
Business Segments Corporate Business Consumer Business Yatra is India’s leading B2B Corporate platform Yatra is one of the most well recognized travel by total spend and number of customers brands in India, having won numerous awards >1,300 ~97% ~15.6M ~59% Large & Medium Corporate Customer Retentio
Slide 5: India Total Travel Market & Online Penetration
India- Total Travel Market & Online Penetration India Total Travel Market($Bn) & Online Penetration FY24-FY27 Total Travel Market 78.4 47.0 % Online Penetration 70.5 46.0 % 63.1 46.3% 45.0 % 56.3 44.0 % 44.6% 43.0 % 42.0 % 42.7% 41.0 % 40.0 % 40.5% 39.0 % The corporate 38.0 % 37.0 % FY24 FY25 FY26 F
Slide 6: Strong Management Team
Strong Management Team Management Team Dhruv Shringi Manish Amin Whole-time Director and Siddhartha Gupta Chief Information and Sabina Chopra Anuj Sethi Jyoti Chawla Chairman Chief Executive officer Technology Officer COO (Corporate) CFO Company Secretary ▪ Previously associated ▪ Chartered accounta
Slide 7: Multiple Levers to Deliver Sustainable Growth
Multiple Levers to Deliver Sustainable Growth Levers to Deliver Sustainable Growth 1 2 3 4 Sticky Corporate Business Strong Brand Recall Ability to Cross-sell to Large Industry Leading Supply of Domestic ▪ Market leader in large corporate travel ▪ Benefitting from India’s Corporate Base Hotels manag
Slide 8: Financial Overview Q3-FY26
yatre Financial Overview ] Q3-FY26
Slide 9: Q3-FY26 Financial Performance
Q3-FY26 Financial Performance Gross Margins Gross Bookings Revenue from (Revenue less Adjusted EBITDA EBITDA Net Profit Operations Service Cost) INR 21,759 Mn INR 2,568 Mn INR 1,277 Mn INR 247 Mn INR 239 Mn* INR 83 Mn** 21% YoY 9% YoY 23% YoY 41% YoY 64% YoY (17%) YoY **EOI INR 38 Mn 21% YoY EBITDA
Slide 10: Trailing Twelve Months Performance
Trailing Twelve Months Performance Revenue (INR Mn) RLSC (INR Mn) 4,784 31% 23% 10,150 10,365 4,548 Financial Highlights (TTM Q3 FY26 4,227 vs TTM Q4 FY25) 9,005 3,875 7,915 • Revenue increased by 31%, reflecting strong momentum across key segments and effective navigation of seasonal challenges Q4'
Slide 11: Q3-FY26 Highlights
Q3-FY26 Highlights • Q3 marked another strong performance for Yatra, with results exceeding guidance. • RLSC grew 23% YoY (vs. revised guidance of 22%) and Adjusted EBITDA grew 41% YoY (vs. revised guidance of 37.5%). • Q3 is typically a strong quarter for leisure travel in India, while remaining se
Slide 12: Operational Performance
Operational Performance Revenue (INR Mn) Gross Margins (Revenue Less Service Cost) (INR Mn) & Gross Margins (%) 43% 8,175 3,691 33% 5,725 2,781 9% 2,568 23% 1,277 2,353 1,041 6.12% 5.33% 5.87% 5.80% Q3 FY25 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q3 FY26 9M FY25 9M FY26 EBITDA (INR Mn) & EBITDA Margins (%)
Slide 13: Operational Performance – Air
Operational Performance – Air Air Passenger Volumes (‘000) Gross Air Bookings (INR Mn) Flat 13% 45,845 4,021 4,027 40,608 14% 22% 16,931 1,314 1,491 13,828 Q3 FY25 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q3 FY26 9M FY25 9M FY26 Air - Gross Margins (Revenue Less Service Cost) (INR Mn) Air - Gross Margins (%)
Slide 14: Operational Performance – H&P
Operational Performance – H&P Gross H&P Bookings (INR Mn) Hotel Room Nights (‘000) 11% 1,436 1,296 12,881 33% 14,0 00 12,0 00 9,664 22% 10,0 00 508 418 8,00 0 6,00 0 4,00 0 3,603 20% 4,306 2,00 0 Q3 FY25 Q3 FY26 9M FY25 9M FY26 0 Q3 FY25 Q3 FY26 9M FY25 9M FY26 H&P - Gross Margins (%) H&P - Gross Ma
Slide 15: Financial KPIs trends
Financial KPIs trends PARTICULARS (INR Mn) FY'23 FY'24 FY'25 9M FY’26 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Gross bookings 67,372 75,884 70,733 60,301 17,951 18,663 18,038 20,503 21,759 Air Ticketing 56,408 64,950 55,273 45,846 13,828 14,664 14,103 14,811 16,931 Hotel & Package 8,153 8,740 13,053 12,881 3,6
Slide 16: Quarterly Consolidated Financial Performance
Quarterly Consolidated Financial Performance Particulars (INR Mn) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q Revenue from Operations (A) 2,568 2,353 9% 3,509 (27)% Revenue less service cost (B) 1,277 1,041 23% 1,257 2% Other Income* (C) (14) (16) 36% (9) 46% Operating Expenses* (D) 1,044 883 19% 1,012 3% A
Slide 17: Financial Overview 9M-FY26
yatre Financial Overview ] 9M-FY26
Slide 18: 9M-FY26 Financial Performance
9M-FY26 Financial Performance Gross Margins Gross Bookings Revenue from (Revenue less Adjusted EBITDA EBITDA Net Profit Operations Service Cost) INR 60,301 Mn INR 8,175 Mn INR 3,691 Mn INR 751 Mn INR 729 Mn* INR 386 Mn** 16% YoY 43% YoY 33% YoY 81% YoY 124% YoY **81% YoY EOI INR 38 Mn 98% YoY EBITDA
Slide 19: Income Statement
Income Statement Particulars (INR Mn) FY23 FY24 FY25 9M FY25 9M FY26 Y-o-Y Revenue from Operations (A) 3,802 4,223 7,914 5,725 8,175 43% Revenue less service cost (B) 3,157 3,359 3,875 2,781 3,691 33% Other Income* (C) (145) (102) (114) (48) (34) (28)% Operating Expenses* (D) 2,632 2,928 3,322 2,414
Slide 20: Key Operating Metrics
Key Operating Metrics Gross Air Bookings (INR Mn) and Take Rate (%) Air - Gross Margins (Revenue Less Service Cost) Air Passenger Volumes (‘000) (INR Mn) & Gross Margins (%) 64,950 56,408 55,273 45,882 6,945 8.00% 5,601 5,269 6.99% 7.00% 6.43% 4,027 1,780 1,766 1,889 1,843 3.42% 4.00% 3.16% 2.72% FY
Slide 21: Key Financial Metrics
Key Financial Metrics Gross Bookings (INR Mn) Gross Margins (Revenue Less Service Cost) Revenues (INR Mn) EBITDA (INR Mn) and EBITDA Margins (%) (INR Mn) & Gross Margins (%) 1,000 25% 8,175 75,884 7,914 900 70,733 20% 67,373 800 729 20% 60,301 700 558 600 15% 512 4,223 3,802 500 16% 14% 3,875 3,691
Slide 22: Capital Market Data
Capital Market Data
Slide 23: Capital Market Data
Capital Market Data Stock Performance (Up to 31st December, 2025) 80.0% 60.0% 40.0% 20.0% 0.0% -20.0% -40.0% -60.0% Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Yatra.com Sensex Shareholding Pattern as on 31st December, 2025 Price Data (As on 31st December, 202
Slide 24: Glossary
Glossary Term Description Term Description Gross booking revenue is defined as the total amount paid by customers for travel B2B Business to Business Gross Booking services and products booked through the OTAs including taxes, fees and other Revenue charges, and is net of cancellations, discounts an
Slide 25: Disclaimer
Disclaimer Yatra Online Limited Disclaimer: No representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in al
Slide 26: Thank You
Thank You