For the full financial year 2026, the company recorded consolidated revenue of INR 10,065 million, reflecting a year-on-year growth of 27.2 percent. Gross margin stood at INR 4,824 million, up 24.5 percent year-on-year. Adjusted EBITDA reached INR 917 million, registering a growth of 37.5 percent, while EBITDA stood at INR 855 million, marking a sharp increase of 53.2 percent. The EBITDA margin was reported at 17.73 percent. Net profit rose to INR 468 million, a year-on-year increase of 28.1 percent. The earnings from operations impact, noted as EOI, stood at INR 38 million, reflecting a 38.5 percent year-on-year change. The reported EBITDA and Adjusted EBITDA figures included other income of INR 52 million for FY26.
However, the fourth quarter of FY26 reflected short-term pressures, with revenue declining to INR 1,890 million, a decrease of 13.7 percent year-on-year. Gross margin increased marginally by 3.6 percent to INR 1,133 million. Adjusted EBITDA fell to INR 166 million, down 33.8 percent year-on-year, while EBITDA declined sharply by 45.5 percent to INR 126 million. The EBITDA margin was reported at 11.15 percent. Net profit stood at INR 82 million, marking a decline of 46.1 percent year-on-year. The EBITDA figures for the quarter included other income of INR 17 million.
Despite quarterly pressure, business momentum remained resilient. Gross bookings increased by 8.3 percent year-on-year, while total transactions rose 15.2 percent. Air passenger volumes grew by 9.6 percent, nearly twice the industry growth rate, indicating continued market share expansion. The corporate travel segment added 55 new corporate clients during the quarter, representing an annual billable potential of INR 2,709 million. This contrasted with 40 corporate closures worth INR 2,234 million in the previous quarter. However, the Meetings, Incentives, Conferences, and Exhibitions segment faced significant disruption due to war-related geopolitical conditions, leading to cancellations and deferrals of international corporate group travel into FY27.
For the full year, the company reported that it had added 163 new corporate customers with an annual billable value of INR 9,568 million, compared to 148 customers worth INR 7,475 million in the previous financial year, underscoring continued enterprise segment expansion.
Chief Executive Officer Siddhartha Gupta stated that FY26 marked a strong performance despite volatility in the macro environment, with execution discipline, cost control, and operating leverage driving profitability. He highlighted strong growth in air and hotel segments, improved mix and monetization, and sustained corporate business expansion. He noted that geopolitical disruptions temporarily impacted demand in the fourth quarter but expressed expectation that deferred demand would return in subsequent periods.
The management further stated that macroeconomic challenges may continue into the first half of FY27; however, the company remains optimistic about medium-term growth prospects supported by structural expansion in India’s travel and corporate mobility market, investments in artificial intelligence, customer acquisition, hotel supply, and its business-to-business enterprise platform. The company reaffirmed its medium-term guidance of 20 percent compound annual growth in RLSC and 30 percent growth in Adjusted EBITDA.
The earnings conference call is scheduled for Monday, May 25, 2026, at 10:00 AM Indian Standard Time to discuss financial results and operational performance for the quarter ended March 31, 2026. The call will be accessible via Microsoft Teams and is open to analysts and institutional investors, alongside a presentation to be submitted to stock exchanges and hosted on the company’s investor relations platform.
The company also reiterated that its forward-looking statements are subject to risks and uncertainties, including changes in economic conditions, government policies, competition, technological shifts, and geopolitical developments, and that actual outcomes may differ materially from projections without obligation for future revision or updates.
Yatra Online Limited concluded FY26 positioning itself as a significantly strengthened player in India’s travel services industry, demonstrating resilience, profitability expansion, and sustained enterprise growth despite global uncertainty.
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