Yatra Online, Inc. (NASDAQ:YTRA) Q4 2023 Earnings Conference Call May 30, 2023 8:30 AM ET

Company Participants

Manish Hemrajani - Vice President, Corporate Development and Investor Relations

Dhruv Shringi - Chief Executive Officer and Co-Founder

Rohan Mittal - Chief Financial Officer

Conference Call Participants

Scott Buck - H.C. Wainwright

Anja Soderstrom - Sidoti

Lisa Thompson - Zacks Investment Research

Cobb Sadler - Catamount

Operator

Good morning and welcome to the Yatra’s Fourth Quarter and Full-Year 2023 Earnings Conference Call. My name is Carla, and I'll be you moderator for today’s call. [Operator Instructions]

I would now like to pass the conference over to our host Manish Hemrajani. Please go ahead.

Manish Hemrajani

Thank you, Carla. Good morning, everyone. Welcome to Yatra's fiscal fourth quarter and FY ‘23 financial results for the period ended March 31, 2023. As always I am pleased to be joined the call today by Yatra's CEO and Co-Founder, Dhruv Shringi; and the CFO, Rohan Mittal.

The following discussion, including responses to your questions, reflects management views as of today, May 30, 2023. We don't undertake any obligation to update or revise the information.

Before we begin our formal remarks, allow me to remind you that certain statements made on today's call may constitute forward-looking statements, which are based on management's current expectations and beliefs and are subject to several risks and uncertainties that could cause actual results to differ materially. For a description of these risks, please refer to our filings with the SEC, and our press release filed earlier this morning. Copies of this and other filings are available from the SEC, and also on the IR section of our website at investors.yatra.com.

With that, let me turn the call over to Dhruv. Dhruv, please go ahead.

Dhruv Shringi

Thank you, Manish, and good morning, everyone. Also, thank you for joining us today for our fourth quarter earnings call of fiscal ‘23. We wrapped up the fourth quarter of fiscal ‘23 with our strongest quarter yet since the onset of COVID. We registered an exceptional year-over-year growth of 97.4% in revenue and 93.3% in adjusted revenue. This strong performance is attributed to the market recovering and also gaining share in recent quarters in both our consumer and corporate travel businesses, and this has enabled us to achieve the highest incentive levels with most of our airline and GDS contracts for the full fiscal year 2023.