Yatra Online, Inc. (NASDAQ: YTRA) shares began Friday higher, as India's leading corporate travel services provider and one of India's leading online travel companies, today announced its unaudited financial and operating results for the three months ended September 30, 2023.
"We delivered strong growth of Air Passengers booked up 31.2% YoY far outpacing domestic air passenger industry growth of 22.7% YoY, clearly demonstrating our ability to gain market share and the strength of the YATRA brand,” read this morning’s news release. “Our revenue for the quarter ended September 30, 2023, was reported at INR 947.6 million (USD 11.4 million) up 14.0% YoY. Adjusted Margin from Air Ticketing of USD 12.3 million was down by 4.8% YoY largely on account of a 14.7% YoY softening in Air ticket prices. Adjusted EBITDA for the quarter reached INR 34.9 million (USD 0.4 million), lower vs. the September 2022 quarter at INR 77.7 million (USD 0.9 million).”
"Additionally," the release concludes, "I would also like to share that the Board has authorized a share repurchase of up to $5 million of our NASDAQ listed YTRA shares, underscoring our confidence in Yatra's future and our steadfast commitment to delivering shareholder value. This authorization represents approximately 5% of Yatra Online, Inc's market capitalization based on the current share price."
YTRA shares took on six cents, or 3.7%, to $1.55.
