Synopsis
Yatra Online Limited has announced the resignation of its Group CFO Rohan Mittal, who has stepped down to pursue new opportunities. The company's stock has been on a significant decline, falling over 55% in the past year, despite improvements in revenue and net profit during Q3.Key Takeaways
- Rohan Mittal resigns as CFO of Yatra Online.
- Stock price drops over 55% in the last year.
- Company revenue surged to Rs 235 crore in Q3.
- EBITDA nearly quadrupled to Rs 13.6 crore.
- Net profit increased to Rs 10 crore YoY.
New Delhi, March 12 (NationPress) Yatra Online Limited revealed on Wednesday that its Group Chief Financial Officer (CFO), Rohan Purshottamdas Mittal, has decided to resign from his role.
Mittal, who assumed the CFO position in September 2022, submitted his resignation letter on March 10 to pursue new career pathways, as stated in the company's filing to the stock exchange.
The company mentioned that his final working day will be determined through discussions to facilitate a seamless transition. However, Yatra Online has yet to announce a successor for the CFO position.
Yatra Online’s stock has been experiencing a downward trajectory, closing at Rs 65.95 per share on the Bombay Stock Exchange (BSE) after a decline of 2.33 percent on Wednesday.
Over the past five days, the stock has decreased by Rs 6.10, or 8.25 percent, and in the last month, shares have plummeted by Rs 16.68, or 19.74 percent.
In the previous six months, the stock value has dropped by Rs 73.59, representing a loss of more than 52 percent. In the past year, Yatra Online's stock has seen a staggering decline of nearly 55 percent.
The stock's highest value in the last 52 weeks was Rs 182 per share, while its lowest was Rs 91.97 per share.
On a brighter note, in Q3, the company's revenue soared to Rs 235 crore, up from Rs 110 crore during the same period last year. EBITDA nearly quadrupled, reaching Rs 13.6 crore from Rs 3.6 crore, with margins improving to 5.8 percent from 3.3 percent.
Net profit also exhibited a remarkable year-on-year (YoY) increase, surging over nine times to Rs 10 crore from Rs 1.1 crore a year prior.
The market capitalization of Yatra Online stood at Rs 1,467.32 crore. As of December 31, 2024, the company had cash and cash equivalents totaling Rs 182.8 crore.
Additionally, the company repaid Rs 24.5 crore in debt during the quarter, reducing its gross debt to Rs 3.25 crore, as per its filing.
