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01/11 03:18
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Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The company demonstrated strong financial performance with significant revenue and profit growth, despite geopolitical and supply chain challenges. The positive market sentiment is further supported by a share repurchase program and optimistic growth expectations. Management's strategy to leverage AI and maintain competitive advantage is well-received, and their focus on maintaining margins and growth trajectory aligns with investor interests. The Q&A section indicates confidence in overcoming temporary issues, and the ongoing recovery in travel sentiment is a positive sign for the near future.
Gross Booking Value (FY 2025) $9.8 billion, up 25.9% year-on-year in constant currency terms.
Adjusted Operating Profit (FY 2025) $167.3 million, up 34.7% year-on-year.
Revenue (FY 2025) $978 million, up 27.4% year-on-year in constant currency from $782 million in FY 2024.
Profit (FY 2025) $95.3 million, compared to $60 million in FY 2024 (excluding one-time gains).
International Air-Ticketing Revenue Growth (FY 2025) Over 33% year-on-year growth.
International Hotels Revenue Growth (FY 2025) Over 65% year-on-year growth.
Adjusted Operating Profit (Q4 FY 2025) $44.7 million, up 37.9% year-on-year.
Revenue (Q4 FY 2025) $245.5 million, up 25.6% year-on-year from $202.9 million.
Profit (Q4 FY 2025) $29.2 million, compared to $15.2 million in Q4 FY 2024 (adjusted for one-offs).
Adjusted Margin (Air Ticketing Q4 FY 2025) $94.2 million, up 16.8% year-on-year.
Adjusted Margin (Hotels and Packages Q4 FY 2025) $109.6 million, up 28.4% year-on-year.
Adjusted Margin (Post-Ticketing Q4 FY 2025) $36.5 million, up 44.3% year-on-year.
Cash and Cash Equivalents (End of Q4 FY 2025) $0.75 billion.
Share Repurchase (Q4 FY 2025) $21.5 million for 233,712 ordinary shares at an average price of $92.2 per share.
New Product Launch: Launched standalone tours and attractions funnel, allowing travelers to discover and book experiences across 1,100+ international cities.
Generative AI Features: Introduced Myra.ai, a trip planning chatbot, and several AI-powered features to enhance user experience.
Market Expansion: International air-ticketing revenue grew by over 33% year-on-year, and international hotels revenue grew by over 65% year-on-year.
International Business Growth: International business now contributes 25% to overall revenue, up from 22% in FY24.
Operational Efficiency: Revamped My Trips section to enhance post-sales experience, reducing customer care calls.
Customer Growth: Added over 9 million customers, taking the lifetime transacted user base to 82 million.
Strategic Shift: Focused on under-penetrated international outbound market and strengthened product proposition.
Corporate Travel Growth: Active corporate customer count on MyBiz increased to over 64,000.
Geopolitical Risks: Recent escalation between India and Pakistan led to travel disruptions, resulting in a noticeable dip in bookings, particularly in the northern region of India.
Supply Chain Challenges: Airlines are facing near-term supply challenges in the domestic air market, with supply growth slower than expected at about 9.5% year-on-year.
Economic Factors: The Indian travel industry is experiencing robust growth, but the company remains cautious and monitors the broader geopolitical and macroeconomic landscape.
Regulatory Issues: The company is navigating regulatory environments as it expands its international business and integrates new technologies.
Gross Booking Value: Recorded a gross booking value of $9.8 billion for the year with a year-on-year growth rate of 25.9% in constant currency terms.
Adjusted Operating Profit: Adjusted operating profit reached an all-time high of $167.3 million, with a year-on-year growth of 34.7%.
Customer Growth: Added more than 9 million customers, taking the lifetime transacted user base to 82 million.
GenAI Initiatives: Launched Myra.ai, a trip planning chatbot, and several generative AI-powered features to enhance user experience.
International Business Growth: International air-ticketing revenue grew by over 33% year-on-year, and international hotels revenue grew by over 65% year-on-year.
Supply Expansion: Added over 120,000 rooms to supply, with a focus on Tier 2 and Tier 3 cities.
Corporate Travel Growth: Active corporate customer count on MyBiz increased to over 64,000.
Revenue Growth: Revenue for fiscal year '25 grew by 27.4% year-on-year in constant currency to $978 million.
Profit Expectations: Profit for fiscal year '25 stood at about $95.3 million, excluding one-time gains.
Operating Profit Margin: Existing operating profit margin improved to 1.71% of gross bookings.
Future Focus: Remain focused on scaling recently launched products and targeting higher-than-industry growth rates across key business segments.
Capital Allocation Strategy: Investing in growth initiatives, exploring niche inorganic opportunities, and returning value to shareholders through buybacks.
Share Repurchase Program: During the quarter, 233,712 ordinary shares were repurchased for an aggregate amount of $21.5 million at an average price of $92.2 per share.
Total Share Repurchase Amount: The company has deployed about $21.7 million in the share repurchase program.
The earnings call highlights strong growth in international air ticketing and hotel revenue, positive cash flow, and a robust cash position. Despite increased marketing expenses, margins are stable, and the company is optimistic about GST benefits boosting demand. Although no stock repurchase occurred, the extended buyback program is positive. Guidance for 20% growth in adjusted margins and expansion in ancillary services are promising. While there are concerns about negative net income due to finance costs and vague management responses, the overall sentiment is positive, supported by optimistic market growth prospects and strategic initiatives.
The earnings call summary indicates strong financial performance with record high adjusted operating profit and significant revenue growth. The Q&A section reveals confidence in achieving growth targets and improving consumer sentiment. Management's optimistic outlook on international growth and ancillary services, along with a focus on AI initiatives, suggests positive future prospects. While there are minor concerns, such as unclear buyback policy and temporary air supply issues, the overall sentiment remains positive, likely leading to a stock price increase in the short term.
The earnings call highlights strong financial performance, with record high operating profits and gross booking values, alongside strategic expansion into new markets. Despite some competitive pressures and geopolitical impacts, management's optimistic guidance and focus on AI and technology investments suggest potential growth. The lack of a share buyback program is a slight drawback, but overall, the positive growth metrics and strategic initiatives indicate a likely positive stock price movement.
The company demonstrated strong financial performance with significant revenue and profit growth, despite geopolitical and supply chain challenges. The positive market sentiment is further supported by a share repurchase program and optimistic growth expectations. Management's strategy to leverage AI and maintain competitive advantage is well-received, and their focus on maintaining margins and growth trajectory aligns with investor interests. The Q&A section indicates confidence in overcoming temporary issues, and the ongoing recovery in travel sentiment is a positive sign for the near future.
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