Shares of Yatra Online Ltd extended their rally for the second straight session on Tuesday, surging 17 per cent in early trade after hitting the upper circuit in the previous session.
With today’s gains, the stock has surged nearly 40 per cent on the BSE over the last two trading days, touching a day’s high of Rs 134.96.
At 11:48 am, the stock was trading 13.80 per cent higher at Rs 130.92, earlier it had surged 17 per cent to hit a high of Rs 134.96 over its previous close of Rs 115.04. The scrip climbed nearly 99.2 per cent from its 52-week low of Rs 65.70 apiece. Shares of Yatra Online have been a performer, rising over 35 per cent in six months.
What’s driving the rally
Yatra Online shares were in the spotlight after the travel services company posted a robust set of June quarter numbers and announced the addition of 34 new clients to its corporate travel business, representing an annual billing potential of Rs 200 crore.
The company on Monday reported a 295.7 per cent year-on-year jump in net profit for the June quarter to Rs 15.99 crore, compared with Rs 4.04 crore in the same period last year. Revenue more than doubled to Rs 209.8 crore from Rs 100 crore in the year-ago period.
JM Financial Institutional Securities Limited said that Yatra’s gross booking revenue grew 9.3 per cent year-on-year in the quarter, led by a strong 20 per cent pick-up in corporate travel bookings that offset weakness in the B2C segment. Hotels and Packages bookings rose 43 per cent, while the air ticketing business saw a modest 4 per cent increase.
Consolidated revenue less service costs jumped 43.8 per cent, aided by higher retention of air ticketing take-rates (4.6 per cent versus 3.1 per cent a year ago) and a favourable business mix, it said.
EBITDA margin expanded sharply to 11 per cent from 4.6 per cent a year ago, driving a 403 per cent surge in EBITDA to Rs 23.1 crore. Adjusted PAT came in at Rs 16 crore, significantly ahead of JM Financial’s estimate of Rs 8.5 crore. The brokerage maintained its ‘Buy’ rating on the stock, raising its target price to Rs 170, citing “healthy trends in corporate travel, cost efficiencies and lucrative valuations at FY26/27 P/E of 26x/21x.”
Among technical indicators, the scrip is trading above its 5-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs).