Q1 2024 Yatra Online Inc Earnings Call

Back to the organizers to do more great. Thank you.

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Yeah.

Thank you if you'd like to ask a question. Please press star followed by the number one on your telephone keypad now.

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Our first question today comes from Scott Buck of H C. Wainwright Your line is open.

Hi, everybody. Thank you for taking my questions and congratulations on the IPO.

Drew my first question could you give us a little more color on the acquisition environment, and maybe what could potentially make sense.

For you guys from a strategic perspective.

Sure Hi, Good morning, Scott Scott in terms of the acquisitions, we've looked at a couple of areas in the past and I think those areas will continue to remain areas of interest for US one is offline businesses on the corporate travel at a place where we can acquire.

You've got a reasonably low price and then take out costs from those businesses by putting in place our technology solution.

And improve the operating margins significantly so that would be one area that we would look at the other area is also again in the corporate space that we would look at other products and services, especially.

<unk> technology solutions like an expense management for example that can be cross sold to our existing large corporate customer base.

It's about to get a lot of thought processes, how do we either grow our base on the corporate side.

All right.

Product and services to leverage the existing base.

So those would be the key areas that we would look at.

Great. That's helpful and second can you give us an indication of where you are.

<unk> market share position is today in corporate travel versus where it was pre COVID-19.

So versus pre Covid.

We've expanded our customer base by about close to 15%.

So.

My sense is that in terms of market share because the number of companies in that top segment would not have grown by a 15% rate would have grown by a much smaller number. So we would only have gained market share over the course of the last year and a half.

Okay.

Yes, that's helpful and then last one for me.

Just on how we should be thinking about operating expenses moving forward do you have.

A meaningful amount of kind of catch up that you need to do one on Opex now that you have some.

Some additional cash to play with or should we expect opex levels to remain kind of largely consistent with what we've seen in the past few quarters.

So opex levels will not change very significantly.

Right.

Would see maybe low single digit to mid single digit kind of increase but nothing significantly beyond that.

At least on the fixed cost.

Alright, Thats perfect well I appreciate the time guys. Thank you very much.

Not at all.

Hey, Scott.

Thank you Andrew.

A reminder, if you'd like to ask a question at Star followed by one on your telephone keypad.

We have a question from Cobb Sadler of Catamount. Your line is open.

Hey, guys. Thanks for taking the question I just had a question on the.

The new corporate customers.

You said it was to have a number right.

$18 million.

Incremental.

Associated with those accounts when do you think you might hit that run rate with those accounts and what.

That seems to be bigger than a traditional customers that you've added so are they bigger.

And when we hit the 18, if that's the right number one.

One more question sure.

Sure Scott.

Sure Colby.

So in terms of getting to that run rate.

We're looking at.

Our six month kind of time lag to get to that full run rate by the end of the new customers get implemented. So if you look at it from wherever you are right. This is so numbers as of 30 of June . So we would expect the whole thing to come into play by the Jan to March quarter of 2024.

That's what we're looking at with regards to these customers.

Should all be live in that kind of timeframe.

In terms of why are they or are there larger yes. We've had some good wins in this quarter, which had pull up the average there are a couple of customers who are larger than the traditional average customer that'd be looks fine and life.

It's part of the reason why.

Average has gone up by a customer.

There are some other conversations like this also which are going on and we remain very positive about the strength of our value proposition to our large corporate customers.

Okay, and so and that so roughly.

Yes.

<unk>, Okay 19 so.

So four $5 million to $5 million a quarter.

Im sorry. Please go ahead.

No I was just saying that the team here at this time.

Yeah.

Yes.

Okay.

Okay.

19 customer side did you give did you give an amount of which those Mike Mike.

Like the revenue associated with the 19th.

Yes, so called the 88 million that you were referring to.

Let me just address that so Paul it's 19 customers within the annual billing potential off $18 million.

So which is the four and a half million a quarter got you that's what I'm.

Okay got you and that you think that no crystal ball, but you think that might happen six months out.

Preferred.

Things take longer than expected six to nine months out probably that four 5 million incremental to the current revenue base.

Okay and then my other question was on golf.

Sorry can I just interrupt you. This is gross billing of potential not revenue growth engine.

Right. So the revenue number will be approximately 5% to 6% of this.

Okay got it okay.

Okay. So all in all gross Antonio a quarter yeah.

That's right yes.

Okay that makes more sense it sounded it sounded but normally big so okay, so but still still you've got 800 customers. So this is another.

Another 19 and that sounds about right okay.

The thing was on your on your buybacks.

So what are the parameters by which you might buyback stock I mean is there a valuation level I guess you're trading.

Shares are trading at a 50% discount now or are there, yes, 50% discount now roughly and so.

When might you start buying back shares have you yet what do you have to do to do that you have to have a board meeting or could you do it now if you wanted to.

Yes, I'm looking for timing and then what are the triggers for you.

To God. This is something that the board has carefully considering with counsel.

And we'll go through this process and in the relatively near term.

We'll come back and update our shareholders without thought process around this.

Okay, Alright sounds good.

Congrats on the IPO.

No.

Thank you so much thank you.

We have no further questions in the queue. So I'll turn the call back to many Johnny for any closing remarks.

Thank you Lydia.

Thank you all for joining the call today as always we are available for follow up.

We feel people reach out to us. Thank you thanks, everyone.

Yeah.

This concludes today's call. Thank you for joining you may now disconnect your lines.

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