Yatra Online, Inc. (NASDAQ:YTRA) Q1 2025 Earnings Conference Call August 13, 2024 8:30 AM ET
Company Participants
Manish Hemrajani - Vice President of Corporate Development and IR
Dhruv Shringi - Co-Founder and Chief Executive Officer
Rohan Mittal - Chief Financial Officer
Conference Call Participants
Scott Beck - HC Wainwright
Cobb Sadler - Catamount
Operator
Good morning, everyone. Welcome to Yatra 1Q ‘25 Earnings Conference Call. My name is Kiki and I will be your conference operator today. [Operator Instructions]
I will now hand you over to your host, Manish Hemrajani, VP of Corporate Development and IR. Manish, please go ahead.
Manish Hemrajani
Thank you and good morning, everyone. Welcome to our fiscal first quarter 2025 financial results for the period ended June 30, 2024. I'm pleased to be joined on the call today by Yatra’s, CEO and Co-Founder of Dhruv Shringi; and CFO Rohan Mittal.
The following discussion, including responses to your questions, reflects management views as of today, August 13, 2024. We don't take any obligation to update or revise the information. Before we begin our formal remarks, let me 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 yesterday evening on the IR section of our website.
With that, let me turn the call over to Dhruv. Dhruv, please go ahead.
Dhruv Shringi
Thank you, Manish, and good morning everyone, and thank you for joining us for our first quarter 2025 earnings call. For the quarter ended June 30, 2024, we reported total revenue of INR1,051 million, which is approximately $12.6 million. This represents a decline of 5% year-over-year. Adjusted Air Ticketing margins were impacted by a 21% decrease on account of lower volumes. The decline was primarily driven by reduced volumes in the B2C segment as we optimize discounts and intensify price competition in the market.
Despite challenges in the B2C segment during the June quarter, the corporate travel segment showed robust growth across all key metrics. The company successfully secured 34-year corporate customer accounts representing an annual billing potential of INR2,028 million or approximately $24.3 million, with average billing potential of 77% sequentially.
As the leader in corporate travel in India, our customer acquisition rates remain strong, consistently outperforming industry benchmarks. We also continue to actively evaluate strategic opportunities to further bolster our corporate travel segment. In addition, we made substantial progress in our meeting Incentives conferences and exhibitions segment, which is the MICE business, this quarter. A newly onboarded team has started damping up operations and while MICE contributions are modest for the June quarter, early signs for the current quarter are very encouraging, with significant business already secured in the September quarter.