Yatra Shares Fall Nearly 6%, Touch All-Time Low
by Bhupendra Paintola · Inc42SUMMARY
- The stock pared some of the losses later in the day to end the session 4.13% lower at INR 114.90
- The company’s market capitalisation stood at INR 1,802.97 Cr (about $214.4 Mn) at the end of the session
- In the broader market, Sensex crashed 930.55 points, or 1.15%, to close at 80,220.72 and Nifty 50 slumped 309 points, or 1.25%, to end at 24,472.10
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Shares of online travel aggregator (OTA) Yatra slumped 5.9% during the intraday trading on Tuesday (October 22) to touch an all-time low at INR 112.70 on the BSE.
The stock pared some of the losses later in the day to end the session 4.13% lower at INR 114.90.
During the day, 2.2 Lakh shares of Yatra were traded. The company’s market capitalisation stood at INR 1,802.97 Cr (about $214.4 Mn) at the end of the session.
In the broader market, Sensex crashed 930.55 points, or 1.15%, to close at 80,220.72 and Nifty 50 slumped 309 points, or 1.25%, to end at 24,472.10.
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It is pertinent to note that shares of Yatra have been on a downward spiral and ended in the red for the fifth consecutive session today.
Yatra made its market debut in September last year, listing at INR 135 on BSE. The stock is currently down nearly 15% from its listing price. On a year-to-date basis, the stock is down 20.5%.
Earlier this month, the National Company Law Appellate Tribunal (NCLAT) stayed the ongoing insolvency proceedings against Yatra’s subsidiary TSI Yatra. Prior to that, the National Company Law Tribunal (NCLT) had admitted Ezeego Travels & Tours’ petition to initiate insolvency proceedings against TSI Yatra.
Founded in 2016 by Dhruv Shringi, Manish Amin and Sabina Chopra, Yatra is an online travel aggregator and India’s largest corporate travel service provider. It has secured a total funding of $151.56 Mn till date.
The company witnessed a 32.5% decline in its consolidated net profit in Q1 FY25 to INR 4.04 Cr from INR 5.99 Cr in the year-ago quarter. Sequentially, the net profit saw a 27% decline.