On February 11, Yatra Online, Inc. (YTRA) stock rebounded in the after-hours to gain 7.34%. This recovery can be attributed to the company’s latest SEC filing, while the expected market recovery is also a reason.
During the regular trading session, the stock varied between a high of $1.7950 and a low of $1.7100. YTRA closed the session in the red with a loss of 0.56% at $1.7700. The stock rebounded in the after-hours to gain $0.13 or 7.34%. Hence, YTRA stock was trading at $1.9000 per share in the after-hours on Friday.
The India-based air products and solutions provider, Yatra Online, Inc. was founded in 2005. Currently, its 62.36 million outstanding shares trade a market capitalization of $118.29 million.
What is happening?
On Friday, the company filed an amendment on a Form SC 13G with the Securities Exchange Commission. Following the filing, the stock rebounded in the after-hours. While the filing can be a reason for the recovery, the stock has been bullish since the start of the week. It seems Friday’s regular session saw a small loss due to profit booking.
The online travel market recently took a harsh hit from the Covid-19 pandemic as most countries put up restrictions on air travel. With the recovery of air travel due to declining cases of the virus in most parts of the world, the online travel market is making a comeback as well. It is expected that the online travel market will recover from the pandemic and grow exponentially in the coming years. The near-term future of the market is very bright. Thus, the positive market developments can be a reason for the stock’s bullishness.
YTRA’s Recent Developments
On January 19, the company announced a cooperation agreement with Maguire Investment Trust. Maguire Investment owns 7.4% of YTRA’s outstanding common stock.
As per the agreement, effective January 17, Roshan Mendis joined the company’s Board of Directors as an independent director. Furthermore, due to some other important commitments, Sean Aggarwal retired from the board, effective January 18, 2022.
YTRA’s Financials
For the three months ended September 30, 2021, the company reported adjusted revenue of INR 788.7 million (USD 10.6 million). This marks an increase of 108.8% YOY.
Moreover, the results from operations was a loss of INR 140.0 million (USD 1.9 million) in the period, against INR 86.8 million in the prior three-month period.
Additionally, YTRA reported an adjusted EBITDA profit of INR 23.3 million (USD 0.3 million) for the period.
