Yatra Online reported Q1 FY27 gross bookings up 16.5% YoY to INR 2,100.7 Cr.

Gross margin increased 6.1% YoY to INR 122.7 Cr, but adjusted EBITDA declined 39.4% to INR 15.1 Cr.

Profit after tax stood at INR 0.34 Cr.

Performance was impacted by geopolitical events affecting international MICE and air travel margins, alongside strategic investments in global expansion and new offerings.

Air passenger volumes grew 5% YoY, doubling industry growth.

The company added 53 new corporate clients with an annual billable potential of INR 222.3 Cr, including 30+ through Travel Pro.

Management anticipates MICE bookings to be 50% higher in Q2, with improving margins.

Outlook suggests EBITDA margins will recover to 20%+ and progress to 30%+ over the mid-term, driven by market recovery and growth initiatives like RECAP and the Kanoo Travel partnership in the Middle East.

The tone reflects confidence in long-term growth and strategic investments.