Consolidated Revenue Growth
Revenue from operations grew 10% year-on-year to INR 2,577 million (~$29M) for Q3 FY2026, driven by strength across key segments, notably air ticketing and hotels.
Air Ticketing Strong Performance
Air gross bookings increased 22% YoY to INR 16,931 million (~$188M); air passenger volume rose 13% YoY to 1,491,000. Air adjusted margins increased 40% YoY to INR 1,195 million (~$13M) and adjusted margin percentage improved from 6.2% to 7.1%.
Hotels & Packages Growth
Hotel room nights grew 22% YoY to 508,000; Hotels & Packages gross bookings increased ~20% YoY to INR 4,306 million (~$47M). Hotels standalone would have grown over 30% on a stand-alone basis, and adjusted margins expanded 15% YoY to INR 502 million (~$6M).
Improved Overall Gross Margins and Take Rates
Overall gross margins improved from 9.7% to 10.2% YoY. Air take rates improved from 6.2% to 7.1% YoY; hotel take rates moderated slightly from 12.2% to 11.7% YoY due to mix.
Corporate Travel Momentum and New Client Wins
Onboarded 40 new corporate clients in the quarter, adding an annual billing potential of INR 2.2 billion. B2B contribution remains material with initiatives to expand online penetration (management cites ~23% online penetration opportunity).
Product & SaaS Traction (Expense Management)
Early traction for Yatra's expense management solution with 8 customers onboarded; management highlights this as both a door-opener for new accounts and a meaningful upsell opportunity within existing corporate customers.
Healthy Liquidity Position
Cash and cash equivalents plus term deposits stood at INR 2,042 million (~$23M) as of December 31, 2025, providing operating liquidity headroom.