Yatra Online, Inc. (NASDAQ:YTRA) Q3 2022 Earnings Conference Call April 1, 2022 8:30 AM ET
Company Participants
Manish Hemrajani – Vice President, Corporate Development and Investor Relations
Dhruv Shringi – Co-Founder and Chief Executive Officer
Conference Call Participants
Scott Buck – H.C. Wainwright
Anja Soderstrom – Sidoti
Lisa Thompson – Zacks Investment Research
Jeff Van Rhee – Craig-Hallum
Operator
Good day, and welcome to the Yatra’s Third Quarter 2022 Financial Results Conference Call. Today’s conference is being recorded.
At this time, I’d like to turn the conference over to Manish Hemrajani. Please go ahead.
Manish Hemrajani
Thank you, Jennifer. Good morning, everyone. Welcome to Yatra’s fiscal third quarter 2022 financial results for the period ended December 31, 2021. I am pleased to be joined on the call today by Yatra’s CEO and Co-Founder, Dhruv Shringi. The following discussion, including responses to your questions, reflects management’s views as of today, April 1, 2022. 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.
These include expectations and assumptions related to the impact of COVID-19 pandemic and the ongoing conflict in Ukraine. For a description of these risks, please refer to our filings with the SEC and our press release.
With that, let me turn the call over to Dhruv. Dhruv, please go ahead.
Dhruv Shringi
Thank you, Manish, and good morning, everyone. Thank you for joining us this morning. Before I discuss the results, I’d like to discuss what we believe will be a major milestone in Yatra’s evolution. As we shared with you last week, we are continuing to work with bankers and lawyers in India to explore our options for an India IPO.
To that end, as we shared earlier, we took the first step in the process with the filing of the Draft Red Herring Prospectus with SEBI, which is the main market regulator in India. Our brand is and continues to resonate positively in India with travelers and our corporate travel business continues to recover strongly.
We believe this would translate into a successful IPO that could significantly enhance Yatra’s strategic flexibility and act as a catalyst to improve shareholder value going forward. Benefits of this listing, which would support Yatra’s ongoing strategy and value creation opportunities include access to an additional pool of capital including retail and institutional investors in India who are already familiar with Yatra’s business and brand, but who are currently restricted from participating in the U.S. markets.