Yatra Online Limited has reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company delivered its most profitable year in history, with consolidated net profit for FY26 growing 28.1% year-on-year to INR 468.10 million. Excluding the one-time effect of the new wage code, profit for the year would have been INR 506 million, representing a growth of 38.5%. The Board of Directors approved the results at its meeting held on May 22, 2026.

Revenue from operations for the full fiscal year 2026 rose to INR 10,065.10 million from INR 7,914.42 million in FY25, a growth of 27.2%. The company achieved an EBITDA of INR 855 million for the year, a surge of 53.2%, with an EBITDA margin of 17.73%. Adjusted EBITDA stood at INR 917 million, up 37.5%.

For the quarter ended March 31, 2026, consolidated revenue from operations was INR 1,890.12 million, compared to INR 2,189.72 million in the previous year. Consolidated profit for the quarter stood at INR 82.02 million, down from INR 152.18 million in the same period last year. The decline in quarterly profit was attributed to geopolitical disruptions and war-related uncertainty, which impacted the MICE business and international travel demand.

Financial Performance

The company's total income for the consolidated quarter was INR 1,993.68 million against total expenses of INR 1,937.04 million. On a standalone basis, the company reported a profit for the quarter of INR 135.13 million, compared to INR 109.84 million in the corresponding period of the previous year. Standalone revenue from operations increased to INR 1,479.37 million in the quarter from INR 1,389.37 million in the year-ago quarter. Q4 EBITDA on a consolidated basis came in at INR 110 million, compared to INR 171 million in the same period last year, with the EBITDA margin contracting to 5.79% from 7.81% year-on-year.

The table below presents key financial metrics for the quarter across standalone and consolidated bases:

Operational Highlights

Despite macro headwinds, Yatra reported resilient operating performance for the quarter. Gross bookings grew 8.3% year-on-year, and total transactions increased 16.6%. Air passengers grew 9.6% YoY, roughly double the industry growth rate. The Corporate business added 55 new corporate customers during the quarter, representing an annual billable potential of INR 2,709 million. For the full year FY26, Yatra added 163 new corporate customers with an annual billable value of about INR 9,568 million.

Conference Call Recording

Pursuant to Regulations 30(6) read with Schedule III and Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has informed that the audio recording of the earnings conference call held on May 25, 2026, is available. The recording can be accessed on the company's website.

The statutory auditors, MSKA & Associates LLP, issued an unmodified opinion on the audited financial results. The auditors included an emphasis of matter regarding queries from the National Stock Exchange and SEBI concerning deposits and advances aggregating INR 3,391.44 million given from IPO proceeds till June 30, 2024. The company stated that based on legal opinions, the classification of utilization is in accordance with the Object Clause of the Offer Document.

Yatra Online Limited successfully completed its postal ballot process on April 23, 2026, securing shareholder approval for the remuneration package of Whole-Time Director Dhruv Shringi. The company disclosed the official results through regulatory filings submitted to stock exchanges on April 24, 2026, confirming strong shareholder support for the special resolution.

Voting Results and Participation

The postal ballot witnessed significant participation from shareholders across different categories. Out of 48,518 total shareholders as on the record date of March 18, 2026, the voting process attracted substantial engagement through the remote e-voting platform managed by National Securities Depository Limited (NSDL).

The resolution was passed with 87.73% of votes in favour, representing 103,687,227 votes out of 118,180,572 total votes polled, meeting the requisite majority for a special resolution.

Approved Remuneration Package

Shareholders approved the comprehensive remuneration structure for Dhruv Shringi (DIN: 00334986) for the period from April 01, 2026 to December 07, 2026. The package includes multiple components designed to align executive compensation with company performance and industry standards.

Regulatory Process and Timeline

The company conducted the postal ballot entirely through remote e-voting, following regulatory guidelines and MCA circulars. The Board of Directors approved the proposal through circular resolution on March 16, 2026, with the postal ballot notice dispatched on March 23, 2026.

The e-voting period remained open from March 25, 2026 at 09:00 AM to April 23, 2026 at 05:00 PM on NSDL's designated platform. Newspaper advertisements were published on March 24, 2026 in Financial Express (English) and Jansatta (Hindi) to inform shareholders.

Scrutinizer's Oversight and Compliance

Shashikant Tiwari, Partner of Chandrasekaran Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed the fair and transparent conduct of the voting process, with votes being unblocked on April 23, 2026 at 5:14 PM in the presence of independent witnesses Indu Bhardwaj and Mansi Saxena.

The resolution grants the Board authority to vary, alter, and modify the terms and conditions of appointment including remuneration structure within the approved limits. This flexibility allows the company to adapt compensation arrangements based on performance and changing business requirements while maintaining shareholder oversight. The voting results and scrutinizer's report are available on the company's website and NSDL's e-voting portal for transparency.