- Yatra Online's net profit rose 296% year-on-year to Rs 16 crore in Q1
- Revenue increased 108.1% year-on-year to Rs 209.81 crore in Q1
- Ebitda jumped 403% year-on-year to Rs 23.07 crore in Q1
Yatra Online Ltd. share price surged to seven-month high Monday after the company reported that its net profit quadrupled in first quarter over the weekend. Its consolidated net profit jumped 296% on the year to Rs 16 crore from Rs 4.04 crore.
Yatra Online has signed 34 new customers in the corporate business, which has an annual billing potential of Rs 200 crore, the company said in a press release.
Yatra Online's revenue increased 108.1% year-on-year to Rs 209.81 crore from Rs 100.81 crore. Its profit margin rose 640 basis points to 11.0% in April–June from 4.6% in the corresponding period of previous year.
Yatra Online's Ebitda jumped 403% on the year to Rs 23.07 crore from Rs 4.59 crore. Strong performance in corporate, higher margin in hotels and packages because of continued momentum in meeting, incentives, conferences, and exhibitions, the company said in a press release.
Yatra Online share price advanced 19.58% to Rs 114.50 apiece, the highest level since Jan 6. It was trading 16.95% higher at Rs 111.98 apiece as of 9:47 a.m., compared to 0.02% advance in the NSE Nifty 50 index.
The stock declined 18.76%, and 3.49% on year-to-date basis. Total traded volume so far in the day stood at 59 times its 30-day average. The relative strength index was at 70.87, which implied the stock is overbought.
Five analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 16.2%.
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