Yatra’s management is “optimistic” about further growth and success as the Haryana-based online travel agency (OTA) registered its strongest performance in air travel since the onset of the COVID-19 pandemic. The portal posted a 41.5% year-on-year (YoY) increase in the number of air passenger bookings, far exceeding the domestic air passenger industry growth rate of nearly 15% on-year.

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“As we move forward, we remain optimistic and committed to leveraging these positive trends to drive further growth and success. We would be somewhere in the mid-high teens in the near term, before getting into hopefully the 20% kind of range over the course of the next three years,” said Dhruv Shringi, the Co-Founder and CEO of Yatra Online, on Tuesday in an exclusive conversation with CNBC-TV18.

Yatra Online posted a modest 2.7% increase in net profit to Rs 5.99 crore for the June quarter, as against Rs 5.82 crore in the corresponding quarter of last year. Its revenue for the first quarter rose by 24% to Rs 110.17 crore, up from Rs 88.96 crore in the same period last year.

Yatra Online's market share would now be in the 6.50 to 7% range of the overall aviation market in India with the company seeing a significantly faster growth rate than the market.

"In customer terms, it would be around the 7% of the market because we are servicing more of the top-end of the customers so the larger companies, the big four accounting firms, the big software technology companies. So this spend share would be higher, which is the value term number would be in the range of 9 to 10%," Shringi added.

Shringi further said that Yatra is aiming for 1.5-2 times market growth.

"Our expectation is to continue to grow significantly faster than the market."

Shares of Yatra Online were trading 0.51% higher at Rs 146.40 apiece on the NSE on Tuesday.

(Edited by : Ajay Vaishnav)

First Published:Oct 17, 2023 2:06 PM IST