- Yatra Online Inc (NASDAQ:YTRA) reported first-quarter adjusted revenue of $6.6 million, a sequential decrease of 49.6%, and a year-over-year increase of 106.9%.
- Loss for the quarter narrowed Q/Q to $(1.08) million.
- Adjusted revenue from air tickets totaled $4.2 million (-51% Q/Q, and +83% Y/Y).
- Total gross bookings stood at $28.5 million, a decrease of 71.6% sequentially.
- Adjusted EBITDA was $0.522 million.
- In July 2021, industry air passenger numbers grew 61% compared to June 2021 and are beginning to see signs of recovery in corporate travel.
- During July 2021, gross booking for corporates grew 268% compared to June 2021, and August is currently trending at 316% growth compared to June 2021.
- The company has cash and cash equivalents at the end of the quarter of $23.56 million.
- Additionally, the company issued a letter to shareholders providing details company’s recent progress.
- Price Action: YTRA shares traded higher by 1.76% at $1.73 on the last check Thursday.
Elizabeth Warren Proposes Legislation Against SPACs: What Investors Should Know
A U.S. Senator is stepping up the pressure on SPACs as an investment vehicle to take companies public. Here’s what the SPAC Accountability Act of 2022 is all about.
What Happened: A new bill called SPAC Accountability Act of 2022 is being proposed by Democratic Senator Elizabeth Warren.
