Yatra Online Q1 Adjusted Revenue Declines 50% Sequentially

Yatra Online Inc YTRA reported first-quarter adjusted revenue of $6.6 million, a sequential decrease of 49.6%, and a year-over-year increase of 106.9%.
Loss for the quarter narrowed Q/Q to $(1.08) million.
Adjusted revenue from air tickets totaled $4.2 million (-51% Q/Q, and +83% Y/Y).
Total gross bookings stood at $28.5 million, a decrease of 71.6% sequentially.
Adjusted EBITDA was $0.522 million.
In July 2021, industry air passenger numbers grew 61% compared to June 2021 and are beginning to see signs of recovery in corporate travel.
During July 2021, gross booking for corporates grew 268% compared to June 2021, and August is currently trending at 316% growth compared to June 2021.
The company has cash and cash equivalents at the end of the quarter of $23.56 million.
Additionally, the company issued a letter to shareholders providing details company's recent progress.
Price Action: YTRA shares traded higher by 1.76% at $1.73 on the last check Thursday.