Yatra Online CFO Rohan Mittal Resigns
Yatra Online Ltd. said on Wednesday its Group Chief Financial Officer Rohan Purshottamdas Mittal has resigned. Mittal, who was appointed as CFO in September 2022, submitted his resignation via a letter dated March 10 to pursue new opportunities.
The company stated that his last working day will be determined through mutual discussions to ensure a smooth transition. Yatra Online, however, did not disclose further details of Mittal's succession.
Mittal is widely recognised for taking Yatra public in India through a Rs 775-crore initial public offering. During his career, he has received several accolades, including BW 40 Under 40 Finance, Young CFO of the Year, Best Transformation of the Year for Gati's turnaround, and recognition among Global 200 Power Finance individuals. At 32, he became the youngest CFO of a BSE 1000-listed firm, Gati Limited, and was among the youngest CFOs of a Nasdaq-listed company.
Before joining Yatra Online, Mittal served as CFO for Rivigo and Gati Ltd. and held senior leadership positions at Allcargo Logistics and PwC India. He holds an MBA from the Indian Institute of Management, Lucknow.
On a consolidated year-on-year basis, the travel company reported that its revenue surged to Rs 235 crore from Rs 110 crore in the quarter ended December. Ebitda nearly quadrupled to Rs 13.6 crore from Rs 3.6 crore, with margins improving to 5.8% from 3.3%. Net profit rose over nine times to Rs 10 crore from Rs 1.1 crore in the same quarter last year.
Shares of the company closed 2.24% lower at Rs 65.98 per share, compared to a 0.12% decline in the NSE Nifty 50. It has fallen 55.97% in the last 12 months.
All five analysts tracking Yatra Online have a 'buy' rating on the stock, according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 130.6, implying an upside of 97.9%.
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