Online travel agency Yatra secured total revenue of $10.6 million in the third quarter of 2021 - a significant uptick in its fortunes year-over-year.
The India-based company says it saw a considerable improvement across all its key performance indicators between July and September while the country attempted to rebuild following the devastating impact of the Delta variant of the coronavirus in the first half of this year.
Air tickets were up 109% year-over-year, hotels and packages 101% and other services by 259%.
Adusted EBITDA came in at $314,000, up 119% on the third quarter of 2020.
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Total gross booking revenue for the third quarter was $114 million, representing a 224% jump on the corrresponding quarter in 2020.
Dhruv Shringi, co-founder and CEO, says: "Domestic travel in India is witnessing a strong resurgence as people realign their plans and shift focus towards domestic travel given the restrictions placed on International travel.
"We are optimistic about the growth and recovery based on the trends that we witnessed in the months of October and November and believe that our well recognized brand and healthy balance sheet put us in a strong position to capitalize as the recovery continues to gain momentum."
The latest financial results come on the back of a turbluent time for the company at a corporate level.
In September, a U.S. court dismissed Yatra’s claim that its Ebix merger was sabotaged by the e-commerce and software company.
The Indian online travel agency submitted a complaint in May to argue that the deal had been scotched after Ebix deemed it to be no longer an attractive acquisition.
The two companies had originally begun negotiations in early 2019 regarding a potential acquisition of Yatra by Ebix.
A deal was struck for Ebix to acquire Yatra for $338 million via a merger and the agreement signed in July 2019.
The deal was never closed however and in early June 2020, Yatra terminated the agreement and filed a lawsuit against Ebix.