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Driven by UPI-based transactions, about 81 per cent of consumers intend to shop online during this festive season in India, while one in two consumers are willing to increase their spending compared to last year, a new survey report showed on Monday. Digital payment methods are on the rise, with 42 per cent of consumers saying they will choose unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>)-for online festive shopping. In addition, 57 per cent indicated that their preferred digital payment method for earning rewards and cashback is UPI, especially during the festive season. About 75 per cent are interested in buying electronic gadgets and products (smartphones, TVs, refrigerators and ACs), luxury and authentic beauty brands, home furnishing/improvement items and consumables, online, according to the report by <keyword id="17495816" type="General" weightage="50" keywordseo="nielsen-media-india" source="Orion">Nielsen Media India</keyword>, on behalf of Amazon India. The survey said that 87 per cent of consumers in metropolitan cities and 86 per cent across tier-2 cities (population 10-40 lakh) prefer to shop online for the festive period. "We are inspired to learn that consumers this year are excited and willing to spend and shop more online. As a marketplace, we are confident that the 'Amazon Great India Festival 2023' will offer a seamless shopping experience, incredible value and the widest selection of domestic and international brands and products," said Manish Tiwary, Country Manager India Consumer Business, Amazon India. More than 70 per cent of consumers wait for online festive shopping events to purchase electronic items. Over 75 per cent of consumers are excited with attractive bank offers and no-cost EMIs for making their purchase more convenient and rewarding, said the report. Around 80 per cent consumers said online festive shopping events provide access to trendy brands for apparel, footwear, and various fashion accessories with nearly 64 per cent sharing their intent to purchase across these categories this festive season. Driven by about 140 million shoppers, India is likely to witness Rs 90,000 crore worth of online gross merchandise value (GMV) in the festive month this year. This is up 18-20 per cent from last year's festive month sales, according to a recent report by market research firm Redseer Strategy Consultants. SEE ALSO:<a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank">Shubman Gill becomes fastest to score six ODI centuries for India by a mile</a><a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank">Pixel 8 launch on Oct 4 – From camera to design specifications, what we know so far</a><a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank">Yatra Online IPO allotment – how to check allotment, GMP, listing date and more</a>

UPI set to drive festive sales this year, electronics to be top choice again: Report

<ul><li><keyword id="6362992" type="General" weightage="20" keywordseo="yatra" source="Orion">Yatra</keyword> is looking to go public in India to raise ₹750 crore.</li><li>The company mentioned that its heavy reliance on <keyword id="44023" type="General" weightage="20" keywordseo="airlines" source="Orion">airlines</keyword> may be a risk factor.</li><li>It currently earns close to 70% of its revenue just by selling air tickets.</li></ul>There is no denying that the last couple of years have been extremely tough on the global travel and tourism industry. Whenever the segment started to make a little recovery, they would once again be hit by a new COVID-19 variant and another deadly wave. While everyone hopes that the worst of the pandemic is behind us, Yatra.com may have a little more to worry about. Yatra, which is now looking to go public in India to raise ₹750 crore, has revealed that its heavy dependence on air ticketing business and airline supplier relationship is one of the risk factors to its business. The reason simply being the financial conditions of the Indian aviation industry. The airlines and airports in India incurred an estimated loss of ₹19,564 crore and ₹5,116 crore in 2022-2021 due to several disruptions caused by the global pandemic, the government of India revealed in December 2021. Another <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/domestic-aviation-industry-will-need-up-to-rs-35000-crore-additional-funding-in-fy21-23-icra/articleshow/75742002.cms?from=mdr">report</a> by Investment Information and Credit Rating Agency of India (ICRA) revealed that the domestic aviation industry will require an additional funding worth ₹32,500 crore to ₹35,000 crore during fiscal year 2021-23 to overcome the impact of the pandemic. The report added that airlines were losing ₹75-90 crore on a daily basis during the COVID-19 lockdown. The industry level debt was also expected to increase to ₹46,500 crore over FY2021-22, the report noted. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airlines </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Debt </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SpiceJet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,400 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Air India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61,562 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">August 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndiGo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹29,859 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GoAir </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,346 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 2021 </td></tr></tbody></table>Source: Statista, Air India, IndiGo, GoAir The situation of Indian airlines could impact Yatra A report by ResearchGate<a href="https://www.researchgate.net/publication/341768345_Financial_Distress_in_Indian_Aviation_Industry_Investigation_Using_Bankruptcy_Prediction_Models"> mentioned </a>that the Indian aviation sector has shown significant growth prospects in the last few years, but the financial performance of most of the air carriers individually is not at all “impressive”. “Every five years one airline in India is being grounded…,” the report added. Jet Airways was grounded in 2019 and will now be <a href="https://www.businessinsider.in/business/news/meet-sanjiv-kapoor-the-new-ceo-of-jet-airways-2-0/slidelist/89987676.cms">making a re-entry</a> three years later next month. Yatra Online Limited, in its draft red herring prospectus (DRHP) revealed, “We are exposed to risks associated with these Indian businesses which risks have recently been heightened by the COVID-19 pandemic, including bankruptcies, restructurings, consolidations and alliances of its partners, the credit worthiness of these partners, and the possible obligation to make payments to our partners. For example, the Indian airline industry has experienced significant losses and has undergone bankruptcies, restructurings, consolidations and other similar events.” The company also cited the example of Jet Airways whose bankruptcy and cessation of operations negatively impacted Yatra’s revenue. The Jet Airways bankruptcy — or any future bankruptcies or increased consolidation in the airline industry — could create challenges for the company and reduce the profitability of its airline ticketing business, the company said. But it gets worse Yatra Online Limited generated over 70% of its business from air ticketing in the fiscal year 2021 and nearly 66% in the first half of fiscal year 2022. Any reduction in the profit margins in air ticketing could have a larger impact on Yatra’s revenue and profitability. <div type="image" title="Yatra.com’s biggest source of revenue is also its biggest risk" msid="90570411" hostid="261"></div> To make matters worse, a substantial portion of Yatra Online Limited’s revenue comes from only four domestic airlines. Even though it provides access to 407 airlines, seven domestic and 400 international airlines. These include domestic flights like Air Asia, Air India, Air India Express, Go First, IndiGo, SpiceJet, Vistara, and international airlines such as Air France-KLM, British Airways, Emirates, Etihad Airways, Lufthansa, and others. “Because the majority of the domestic Indian air travel industry is concentrated among these four domestic airlines, any adverse market developments across the Indian commercial aviation landscape, particularly among the most dominant domestic airlines are more likely to impact our business,” the company said in its DRHP. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-may-soon-become-the-third-largest-credit-card-player-after-hdfc-bank-and-sbi-post-the-citibank-deal/articleshow/90563751.cms">Axis Bank may soon become the third largest credit card player after HDFC Bank and SBI post the Citibank deal</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-and-gautam-adanis-net-worth-is-now-more-than-100-billion/articleshow/90564692.cms">Mukesh Ambani and Gautam Adani are now worth more than $100 billion</a> <a href="https://www.businessinsider.in/tech/news/dysons-new-headphones-with-an-air-purifier-bank-on-peoples-masking-habits/articleshow/90561834.cms">Dyson's new headphones with an air purifier bank on people’s masking habits</a>

Yatra.com’s biggest source of revenue is also its biggest risk

<ul><li>The ₹510 crore IPO of EaseMyTrip is now open for public subscription.</li><li>The best thing about the travel aggregator is the cost-conscious model that sets it aside from other travel aggregators in India.</li><li>Being bootstrapped, the management of the company has tended to be extremely cost-conscious, and this has enabled them to be profitable since inception, said a Ventura report.</li><li>According to Choice Broking, Easy Trip has been profitable since its inception and is the only profitable company among the key OTAs.</li><li>The ICICI Direct report highlighted that taking cognisance of the huge growth opportunities for EaseMyTrip and a lean cost of operations would aid the flow of profitability to the bottom line.</li></ul>From the Indian government-run companies RailTel and IRFC to the most successful IPO of 2021 MTAR Technologies — the IPO bonanza doesn’t seem to be ending soon. Next in the line is the bootstrapped online travel aggregator, EaseMyTrip, making its way to the public markets. The ₹510 crore IPO of EaseMyTrip is now open for public subscription. The company is an exception among a large pool of internet companies, which have tried to get listed — EaseMyTrip has bootstrapped its way to the public markets. The online travel agency (OTA) offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, hotels, and much more. The best thing about the travel aggregator is the cost-conscious model that sets it aside from other travel aggregators in India. “Being bootstrapped, the management of the company has tended to be extremely cost conscious and this has enabled them to be profitable since inception. Their primary driver of business is that they do not charge a convenience fee and this is what sets them apart from their peers like Make My Trip, Yatra and ClearTrip,” said Ventura in an IPO note. And that’s why nearly every analyst on the street has a ‘subscribe’ rating on the IPO. Street’s view on EaseMyTrip’s ₹510 crore IPO: Subscribe <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking House </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BP Equities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GEPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> Here's what makes the IPO hot! Lean, cost-efficient operations set it aside from peers According to an ICICI Direct report, EaseMyTrip, owned by Easy Trip Planners Ltd (ETP), had the lowest number of employees among India's key online travel agencies as of March 31, 2020. The company has developed a streamlined, efficient and lean organisation structure relative to the size of its business operations. The advanced technology infrastructure and operating systems focused on optimal human resource allocation, minimising operational and systematic errors and enhancing customer satisfaction have resulted in reducing administration costs while increasing employee productivity and operating efficiencies. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Easy Trip Planners </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MakeMyTrip </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra Online </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Customer Promotion Expense as a % of Gross Booking Revenue </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.00% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.93% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.74% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee Expense as a % of Gross Booking Revenue </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.72% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.13% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.08% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other Operating Expense as a % of Gross booking revenue </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.27% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.60% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.01% </td></tr></tbody></table>*Source: Ventura “We believe this has enabled ETP to maintain healthy profitability in the past few years,” the report added. Highest growth rate in terms of gross booking revenue and operating revenues among the Key Indian OTA’s According to Choice Broking, Easy Trip has been profitable since its inception and is the only profitable company among the key OTAs with a positive return on equity (RoE) and return on capital employed (RoCE). The company’s profit had grown from ₹3 lakh in 2018 to ₹32.9 crores in 2020. <div type="image" title="EaseMyTrip" msid="81387653" hostid="261"></div> As per the red herring prospectus, in terms of annual growth in operating revenues during FY 2018 to FY2020, Easy Trip recorded the fastest growth at a compound annual growth rate (CAGR) of approximately 19%, among key online travel agencies in India like MakeMyTrip Limited and Yatra Online. The sector is poised to grow According to Ventura, the company has increased its market share from 3.1% in FY18 to 4.6% in FY20 and has been ranked second among key OTAs in India based on booking volumes. The online penetration, defined as a share of bookings done online through websites of the service providers or through online travel agencies (OTAs), of the Indian travel industry accounted for 56-58% in FY20. The analysts further expect the share of online penetration to 67-68% in FY23, supported by growth in online transactions due to the Covid-19 pandemic. Justified valuations The ICICI Direct report highlighted that taking cognisance of the huge growth opportunities for EaseMyTrip and a lean cost of operations that would aid the flow of profitability to the bottom line — “it is an attractive issue.” According to Choice Broking, the company is available at a P/E of 65.3x on FY20 numbers — “which is reasonably priced”. The price-to-earnings (P/E) ratio shows the price that the market is willing to pay for a stock based on its earnings. Higher the P/E, the more expensive the stock. 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Here is why analysts maintain a bullish mood for the ₹510 crore IPO of bootstrapped online travel aggregator EaseMyTrip

Good morning, Insiders. Today we're talking about why energy stocks have performed so poorly during the first quarter of the year. April Fool's. The energy sector dramatically outperformed the broader market in the first three months of the year. Let's jump in.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/stocks/gas-oil-energy-stocks-prices-sp500-crude-brent-wti-q1-2022-3"></a>1. Energy stocks dominated in the first quarter. The<a href="https://markets.businessinsider.com/news/stocks/gas-oil-energy-stocks-prices-sp500-crude-brent-wti-q1-2022-3"> top 20 gainers</a> in the S&amp;P 500 over the last three months were almost exclusively oil and gas stocks. The energy sector within the index jumped about 40% as <a href="https://markets.businessinsider.com/news/stocks/gas-oil-energy-stocks-prices-sp500-crude-brent-wti-q1-2022-3">energy prices soared</a> on supply concerns following Russia's invasion of Ukraine. The broader<a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets"> S&amp;P 500</a>, however, was dragged into a correction during the period but pared its loss to about 4% for the quarter. All three of the major indexes saw their <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-negative-quarter-pandemic-oil-biden-2020-2022-3">first negative quarter</a> in two years, since the start of the COVID-19 pandemic. Since Russia invaded Ukraine, energy prices have soared, yanking stock prices up with them. The top gainers on the broad-equity index included the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-occidental-petroleum-energy-stock-earnings-call-2022-3#:~:text=Warren%20Buffett's%20Berkshire%20Hathaway%20invested,more%20than%20%245%20billion%20today.">Buffett-backed Occidental Petroleum</a>, as well as <a href="https://markets.businessinsider.com/stocks/hal-stock">Halliburton</a>.Oil prices plummeted Thursday, however, as the Biden Administration weighed the <a href="https://markets.businessinsider.com/news/commodities/oil-price-reserves-biden-spr-russia-ukraine-opec-china-energy-2022-3">largest-ever release</a> from the strategic reserves. The decision is set to push through, and the approval will greenlight the release of as much as 180 million barrels over six months from its official stockpiles.<a href="https://www.businessinsider.com/tesla-bull-stock-split-electric-vehicle-retail-investor-elon-musk-2022-3"></a><div type="image" title="Tesla Model 3" height="1250" width="2500" msid="90592131" hostid="261"></div>In other news:2. US futures are edging higher ahead of non-farm payrolls later. Stocks capped off their first negative quarter since before the COVID-19 pandemic began. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-us-stock-futures-equities-shares-crypto-nfp-2022-4">Here is your markets round-up.</a>3. Earnings on deck: Yatra Online, Charah Solutions, and Icanic Brands Company, <a href="https://markets.businessinsider.com/earnings-calendar">all reporting</a>.4. One of Tesla's biggest bulls explained why its second stock split in two years is just one of many catalysts driving shares higher this year. The 30-year Wall Street veteran and Goldman Sachs alum said that <a href="https://www.businessinsider.com/tesla-bull-stock-split-electric-vehicle-retail-investor-elon-musk-2022-3">the EV giant would still be cheap at $1,600 per share in the next six to 12 months. </a>5. The original meme stock is back and this time, with a split. GameStop is up 15% in the pre-market after announcing its first stock-split in 15 years. <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-stock-split-reddit-shareholder-approval-meme-stock-2022-4">Read more here.</a>6. Putin threatened to shut off gas exports to countries that don't pay in rubles starting April 1. "Unfriendly countries" will be required to open Russian bank accounts where their foreign-currency payments for gas will be converted to rubles. <a href="https://markets.businessinsider.com/news/currencies/russia-gas-putin-exports-rubles-supplies-payments-halt-europe-2022-3">But the Kremlin has offered some wiggle room. </a>7. Mohamed El-Erian said Russia's war is pushing investors into private <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> as they look to boost returns and limit risks. The threat of financial tightening, inflation, and geopolitical tensions have created massive uncertainty for markets, El-Erian wrote in an op-ed. <a href="https://markets.businessinsider.com/news/stocks/russia-war-private-markets-shift-inflation-fed-mohamed-el-erian-2022-3">He explained why stocks remain the best asset. </a>8. BlackRock bond chief Rick Rieder said the market is going through a shift he hasn't seen in a decade. He's seeing far more bond market opportunities as rates rise and prices drop. He shared what he's buying — <a href="https://www.businessinsider.com/investing-strategy-bond-buying-fixed-income-blackrock-rick-rieder-2022-3">and what he thinks investors should focus on instead of worrying about the yield curve inversion.</a>9. Wall Street's top stock-pickers are backing these bitcoin mining companies as tokens rally to erase 2022 losses. These stocks in the crypto mining sector can benefit from bitcoin's March bounce, according to TipRanks' analyst consensus metric. <a href="https://www.businessinsider.com/bitcoin-how-to-mine-crypto-stocks-to-buy-analysis-tipranks-2022-3">See the full list.</a><a href="https://markets.businessinsider.com/news/currencies/crypto-price-outlook-upside-limited-stablecoin-ownership-falls-bitcoin-ether-2022-3"></a><div type="image" title="Stablecoins" height="601" width="818" msid="90592133" hostid="261"></div>10. Further upside in crypto is limited, according to JPMorgan, because stablecoin ownership is in decline. The share of stablecoins in the total crypto market have fallen to 7% from 10% — <a href="https://markets.businessinsider.com/news/currencies/crypto-price-outlook-upside-limited-stablecoin-ownership-falls-bitcoin-ether-2022-3">and the bank said the recent crypto rally is likely on its last legs.</a>Keep up with the latest markets news throughout your day by checking out<a href="https://www.insider.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://www.insider.com/therefresh">Listen here.</a>Curated by Phil Rosen in New York. (Feedback or tips? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.)

10 things before the opening bell

<ul><li>The company saw an adjusted EBITDA loss of $4.1 million for the April-June quarter, widening by over 50% from last year’s $2.7 million loss.</li><li>Due to its failed merger with Ebix, <keyword id="143718" type="COMPANY" weightage="20" keywordseo="Yatra-com">Yatra.com</keyword> said it has paid $2.2 million in legal fees. </li><li>But the legal troubles come for the company in the same quarter when <keyword id="2173225" type="PERSON" weightage="20" keywordseo="travel-and-tourism">travel and tourism</keyword> have already taken a hit because of the coronavirus pandemic. </li></ul><keyword id="6362992" type="UNKNOWN" weightage="20" keywordseo="yatra">Yatra</keyword>.com, one of India’s popular travel platforms, shared its first-quarter earnings report and the company that is already facing troubles due to the pandemic took another blow. Due to its failed merger with Ebix, Yatra.com has paid $2.2 million in legal fees. The company saw an adjusted EBITDA loss of $4.1 million for the April-June quarter. The losses are nearly double of what it posted last year at $2.7 million. “There was an adverse impact of ₹168.4 million ($2.2 million) on our operating performance in the current quarter due to legal and professional fees related to the merger transaction with Ebix, Inc. Excluding such fees, our Adjusted EBITDA loss would have been ₹141.0 million ($1.9 million),” said Dhruv Shringi, co-founder and CEO of the company in a statement. Yatra.com’s grand merger worth $337 million with US-based software firm Ebix got called off in June 2020, and the matter is currently in court. Yatra had filed a case in the state of Delaware, US, against Ebix for a breach of the agreement. But the legal troubles come at a time when the company is reeling under pressure, with travel and tourism taking a hit due to the COVID-19 pandemic. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra segment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue in April-June quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-on-year change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Air ticketing revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.3 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-85.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotel booking revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$0.2 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-94.9% </td></tr></tbody></table> However, Shringi said that the company has “enough capital to withstand a prolonged slowdown in the travel industry should that occur”. Yatra’s cost run rate has reduced <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.7 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.2 million </td></tr></tbody></table> Latest bet at diversification The company has also diversified its offerings. In July, the company said that the platform is evolving from being a travel services provider to a digital services platform. Yatra.com’s latest offerings will focus on the corporate side and small businesses. These include expense management software, Artificial Intelligence-based smart space and safe space solution which will also ensure contact tracing at a workspace, online platform for consumable sourcing for hotel partners. The company is also working with NanoTech Company – Neo Dot which identifies body temperature with a change in colour and will be helpful in crowded spaces. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-adani-power-future-consumer-future-retail-bharat-dynamics-hal-indiabulls-housing-finance-and-more/articleshow/78030185.cms">Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more</a> <a href="https://www.businessinsider.in/business/news/covid-19-and-a-failed-merger-alter-yatras-journey-the-offerings-look-a-lot-different-now/articleshow/77233422.cms">Covid-19 and a failed merger alter Yatra’s journey – the offerings look a lot different now</a>

Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter

<ul><li>According to a survey released by consulting firm Deloitte, 54% of people surveyed feel safe to <keyword id="6354692" type="UNKNOWN" weightage="20" keywordseo="Travel">travel</keyword> in June, as compared to 50% in the previous wave.</li><li>An OTA executive says people are doing “revenge travel” which is evident from significant increase in queries and bookings.</li><li>A recent ‘Back to travel’ research conducted by Booking.com found out that around 68% of Indian travellers who couldn’t travel in 2020 are extensively yearning to travel this year.</li></ul>Samaira Jain, a freelance content writer based in Delhi, feels that her life has become extremely “monotonous”. The pandemic, the lockdowns and restrictions it has induced have put on hold her dreams and plans of travelling to her favourite destinations. She wants her “normal life” back. Delhi is gradually limping back to normalcy, as lockdown relaxation kicked in from May 31. Jain, along with her family, has decided to visit <keyword id="6357787" type="LOCATION" weightage="20" keywordseo="shimla">Shimla</keyword> — in the neighbouring state of <keyword id="6358126" type="CITY" weightage="20" keywordseo="Himachal-Pradesh">Himachal Pradesh</keyword> — after the lockdown. She sounds very excited and seems ready to embrace the beauty of the Himalayan foothills. “Our lives have become so monotonous, we have started feeling depressed. In order to change our mind we decided to travel and take some days off,” says Jain. India’s ramped up vaccination drive also seems to have given people a sense of confidence. Diyara Doshi, who is a teacher in a private school in Mumbai, echoes Jain’s views in a sense. Along with her husband, she is planning a getaway for a weekend in Lonavala, a hill station around 90 kilometres away from the capital of Maharashtra. Doshi and her husband got themselves fully vaccinated so that they can plan their leisure trip on a weekend. “We have taken both doses of the <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID-19</keyword> vaccine, so we are now a little safe to travel,” says Doshi. As the second wave of COVID-19 pandemic stormed the country, heavy restrictions were imposed including strict lockdowns and travel restrictions. Decline in active daily cases lead many states to lift lockdown restrictions and open up for tourists once again trying to get back to pre-pandemic levels. On June 14, a beeline made by tourists was seen on the Kalka-Shimla Highway, near Parwanoo in Himachal Pradesh, choked with cars. It clearly shows that people are choosing to throng to hill stations despite fear of infection still being around. <div type="image" title="Heavy traffic jam at Kalka-Shimla Highway" msid="83867566" hostid="261"></div> According to a survey released in May by consulting firm Deloitte, 54% of people surveyed feel safe to travel in June, as compared to 50% in the previous wave. The survey also says that the intent to travel for leisure in these three months (June to August) will see an upward trend as compared to previous waves, partly because of COVID-19 vaccination boosting people’s confidence to return to normalcy. Ishaan Bilala, an analyst at consulting firm KPMG, wants to go on a short vacation in Tosh near Kasol in Himachal Pradesh. He is looking forward to booking a comfortable hotel with a “surreal view”, where he and his friends can take a small break from their work and enjoy themselves without worrying about COVID-19. “We know that COVID has not ended, and with rumours of a third wave already around the corner, we thought we should take one trip at least before cases hike again,” says Bilala. A recent ‘Back to travel’ research conducted by online accommodation aggregator Booking.com found that around 68% of Indian travellers who couldn’t travel in 2020 are extensively yearning to travel this year, while 70% travellers are planning to travel in the near future. The survey further reveals that around 72% feel that travelling this year is more important to them than it was before the outbreak of the pandemic. With lockdown restrictions being lifted in various states, the <a href="https://www.business-standard.com/article/economy-policy/air-traveller-numbers-treble-from-may-low-as-states-get-into-unlock-mode-121062500033_1.html">average number</a> of people taking flights per day rose from 42,000 in May to 1,25,000 from the third week of June. Travel bookings surge in the month of June “Within a week since restrictions began to ease, we have seen a jump of nearly 200% in hotel bookings for the month of June as compared to April — with the majority of states where lockdown restrictions have been relaxed considerably,” says Vipul Prakash, chief operating officer (COO) of online travel aggregator (OTA) <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword>. Rajiv Subramanian, vice president of Cleartrip tells Business Insider that there is a large pent up demand for travel. According to him, routes between Mumbai, Bangalore and Delhi dominate the top sectors for flight bookings in the last few weeks of June. “In terms of hotel bookings, we have seen a growth in booking in states with hill stations such as Himachal Pradesh, Uttarakhand and Jammu &amp; Kashmir. Areas in and around Mumbai are the leading areas of hotel bookings.” Travel bookings in month of April and May had seen a huge dip The number of domestic passengers travelling via air in the month of April fell by 27% and this further dropped by over 60% in the month of May as COVID-19 cases were shooting up in the country, as per the Directorate General of Civil Aviaion (DGCA). “Starting April, there was a decline in demand due to the rising COVID-19 cases across the country. Now with the incoming of <keyword id="79555" type="TECHNOLOGY" weightage="20" keywordseo="Vaccines">vaccines</keyword>, there are many reasons to be optimistic as travel intent climbs up again. With travel being an integral part of people’s lives, a few destinations have seen a 50% rise in hotel bookings in the month of June as compared to April and May,” says Sabina Chopra, co founder and COO of OTA platform <keyword id="6362992" type="UNKNOWN" weightage="20" keywordseo="yatra">Yatra</keyword>.com. The first three months of 2021 when COVID situation in the country seemed slightly improving, people had once again started to venture out of their homes. “First three months of the year saw a good number of travellers making leisure travel, with the next two being heavily impacted due to COVID-19,” says Nishant Pitti, chief executive officer (CEO) and cofounder of OTA site <keyword id="5030468" type="UNKNOWN" weightage="20" keywordseo="EaseMyTrip">EaseMyTrip</keyword>. Number of travellers searching for travel and accommodation sees an uptick Not only have the number of people who travelled have gone up but also the number of tourists who are seeking to or planning to travel has also surged in the past few weeks. “The number of people searching for places/queries for trips have increased multifold in the past few weeks. We have witnessed a booking increase of 40% from the lows in May that indicates the tendency of people for revenge travel has already kicked in with a significant increase in queries and bookings,” adds Pitti. The number of domestic tourists visiting India during 2019 was 2321 million as compared to 1853 million in 2018, with a growth of 25.3%, reveals India’s Ministry of Tourism statistics. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/microsoft-airtel-tiktok-just-dial-byjus-and-other-companies-are-calling-out-interns-for-different-roles/articleshow/83168022.cms">Microsoft, Airtel, BYJU’S, IIT-Bombay and more — here is a list of companies looking for interns</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/these-are-the-hottest-jobs-in-the-cyber-security-industry-right-now-with-a-salary-package-of-up-to-23-lakh-per-annum/articleshow/82629876.cms">These are the hottest jobs in the cyber security industry right now, with a salary package of up to ₹23 lakh per annum</a>

Indians are making big plans of ‘revenge travel’ as COVID-19 restrictions get lifted in many states

Mumbai, July 14 (IANS) With the aim of diversifying its portfolio beyond travel, online corporate travel platform Yatra.com on Tuesday said it had forged an alliance with upGrad Enterprise, the business-to-business arm of online higher education company upGrad. The development comes even as the Covid-19 pandemic hit the global travel industry hard. This partnership will enable Yatra's corporate clients to deliver advanced learning and skill development for their employees, the company said. "In a tough economic climate, it is important to develop and reskill the workforce to overcome the challenges being presented," Dhruv Shringi, Co-founder and Chief Executive Officer, Yatra.com, said in a statement. "We are excited to join forces with upGrad to provide a platform to our clients who are looking to develop employees' potential specific to their businesses or a sector," Shringi added. From deployment-ready workforce within six months, to reducing employee attrition and aligning learning and development plans with business growth strategy, upGrad Enterprise will work closely with Yatra's corporate and SME clientele. The edtech major will be providing deep skilling programmes that align with the client's desired business outcomes to deliver impact at scale. Yatra.com said it services over 850 corporate and more than 20,000 SME clients. "The unprecedented rate of technology advancement is disrupting companies and jobs everywhere. Across verticals, enterprises face barriers to this adoption due to skill-gap in their talent pool," said Mayank Kumar, Co-Founder and MD, upGrad. "Such barriers can be crippling, hampering business growth. Our strategic partnership with Yatra, which is absolutely the first of its kind and creates a new milestone in the education industry, will be focused towards bridging this workforce skill-gap," Kumar said. --IANS gb/na

Yatra.com partners upGrad to enter edtech sector

<ul><li><keyword id="6362992" type="UNKNOWN" weightage="20" keywordseo="yatra">Yatra</keyword>.com co-founder <keyword id="625202" type="PERSON" weightage="20" keywordseo="Dhruv-Shringi">Dhruv Shringi</keyword> shared that the platform is evolving from being a travel services provider to a digital services platform. </li><li><keyword id="143718" type="COMPANY" weightage="20" keywordseo="Yatra-com">Yatra.com</keyword>’s latest offerings will focus on the corporate side and small businesses. The company currently has over 800 corporate partners and 20,000 SME customers.</li><li>But Yatra.com faced more troubles along the way, as it had been struggling even before the coronavirus pandemic, and it walked out of its grand merger with US-based software firm Ebix.</li></ul>Fourteen years after its launch, Yatra.com, one of India’s popular travel booking platforms, is turning its business around, thanks to the coronavirus pandemic. In a conference call with reporters on Tuesday, Yatra.com co-founder Dhruv Shringi shared that the platform is evolving from being a travel services provider to a digital services platform. With the travel and tourism industry being severely affected due to the pandemic and travel not being on people’s minds for a long time now, companies like MakeMyTrip and Yatra.com have been looking for ways to survive this phase. Yatra’s new plan Yatra.com’s latest offerings will focus on the corporate side and small businesses. The latest business offerings will include expense management software, Artificial Intelligence-based smart space and safe space solution which will also ensure contact tracing at a workspace, online platform for consumable sourcing for hotel partners and is also working with NanoTech Company – Neo Dot which identifies body temperature with a change in colour and will be helpful in crowded spaces. “While we are recognising travel recovery will be slow, we are thinking of how we can capitalize on our Yatra network. We are the largest player in the corporate travel space, and have 850 corporate partners and 20,000 SME customers. In the discussions we have had with the CXOs of the companies, all want to digitize their supply chain and everyone wants to move on to a digital sourcing platform given the disruption we have seen in the physical world,” said Shringi. The founder believes that the market will soon see corporations consolidate towards larger players with stronger balance sheets and technology that can continue to serve them uninterrupted. However, it will continue to offer online travel aggregation. Currently, the travel demand in India is at 15-20% of its pre-COVID levels, and Shringi believes that a gradual recovery over six months will be for the travel and hospitality industry. “We have seen demand come back on the OTA platform especially on the B2C side of things. With regards to international flights, it's still relatively early days as the government has announced gradual reopening of the skies. With domestic hotels too at certain pockets we have seen a recovery but occupancy and demand continues to be soft,” he said. Recovery from not just the economy but also its troubles But Yatra.com has faced more troubles along the way, as it had been struggling even before the coronavirus pandemic. Its grand merger with US-based software firm Ebix too was called off, and the matter is currently in court. Yatra had filed a case in the state of Delaware, US, against Ebix for a breach of the agreement. Since the beginning of the year, the Nasdaq listed Yatra has seen its shares fall by over 76%. But Shringi said that Yatra has enough cash in the bank to survive this crisis. “Some of the other initiatives we have taken as part of our long-term strategy, we have placed significant cost cuts. They are the need of the hour and rationalization was important. We are well capitalized, and we have over $48 million in our balance sheet and our burn rate is in the range of about $1.2 million per month,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/edtech-funding-continues-toppr-secures-350-crore-for-its-new-os-to-help-schools-go-digital/articleshow/77232701.cms">Edtech funding continues – Toppr secures ₹350 crore for its new OS to help schools go digital</a> <a href="https://www.businessinsider.in/india/news/indigo-airlines-first-quarter-preview-and-share-price-chart/articleshow/77219527.cms">IndiGo’s ‘grounded quarter’ may lead to more loss than all the profit in the last three years</a>

Covid-19 and a failed merger alter Yatra’s journey – the offerings look a lot different now

<ul><li>The IPO of <keyword id="5030468" type="UNKNOWN" weightage="20" keywordseo="EaseMyTrip">EaseMyTrip</keyword> will open on March 8 and remain open till March 10. </li><li>The company has set the price band for the issue at ₹186 to ₹187 per share. </li><li>The OTA offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, and much more. </li><li>EaseMyTrip.com is the second largest online travel agency in India in terms of booking volume in the nine months ended December 31.</li></ul>The ₹510 crore initial public offering (IPO) of India’s second-largest online travel agency EaseMyTrip.com will hit the capital markets next week. The IPO will open on March 8 and remain open till March 10. The Delhi-based online travel agency Easy Trip Planners operate EaseMyTrip.com. The offer comprises an offer for sale of up to ₹255 crore by its promoters Nishant Pitti and Rikant Pitti, holding 49.81% and 49.68%, respectively, in the company. The company has set the price band for the issue at ₹186 to ₹187 per share. The online travel agency (OTA) offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, hotels, and much more. This would be the tenth initial public offering this year after Indian Railway Finance Corporation (IRFC), Indigo Paints, Home First Finance Company (HFFC), Stove Kraft, Brookfield India REIT, Nureca and RailTel recently concluded their listings. Easy Trip Planners IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 8 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 10 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹186 to ₹187 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">75% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital and JM Financial are the book running lead managers for its public offering IPO. Easy Trip Planners IPO: All you need to know <ul><li>According to the CRISIL Report, EaseMyTrip.com was the only profitable online travel agency among other key agencies in India in the fiscal years 2018 to 2020. The other key players in India include Cleartrip, MakeMyTrip and Yatra Online.</li><li>EaseMyTrip.com is the second largest online travel agency in India in terms of booking volume in the nine months ended December 31.</li><li>The company has been consistently profitable over the past three years, with its profit growing from ₹3 lakh in 2018 to 32.9 crores in 2020.</li><li>In terms of annual growth in operating revenues during FY 2018 to FY2020, Easy Trip Planners Limited recorded the fastest growth at a compound annual growth rate (CAGR) of approximately 19%, among key online travel agencies in India like MakeMyTrip Limited and Yatra Online.</li><li>Indian OTA industry is expected to grow at a CAGR of 1% to 2% from fiscal 2020 to fiscal 2023 in terms of gross booking revenues.</li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/instagram-accidentally-hid-likes-for-some-users-after-expanding-long-running-test-feature-says-cnn-report/articleshow/81308217.cms">Instagram accidentally hid likes for some users after expanding long-running test feature, says CNN report</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/instagram-accidentally-hid-likes-for-some-users-after-expanding-long-running-test-feature-says-cnn-report/articleshow/81308217.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/paypal-which-had-shut-down-domestic-operations-in-india-now-plans-to-hire-1000-engineers/articleshow/81307572.cms">PayPal, which had shut down domestic operations in India, now plans to hire 1,000 engineers</a>

EaseMyTrip IPO is set to open on Monday — price band for the issue set at ₹186 to ₹187 per share

Online travel portal <keyword id="6362992" type="COMPANY" weightage="20" keywordseo="yatra">Yatra</keyword> is merging with <keyword id="6357328" type="COMPANY" weightage="100" keywordseo="NASDAQ">NASDAQ</keyword> listed <keyword id="1919669" type="UNKNOWN" weightage="100" keywordseo="Terrapin">Terrapin</keyword> 3 Acquisition Corporation (TRTL) that values Yatra at an enterprise value of $218 million. 
 
TRTL is formed for effecting a merger, acquisition, or similar business combination and had raised $212.75 million in its IPO in July 2014 and the combined entity will be listed on NASDAQ as Yatra (YTRA). 
 
As per reports, MIHI LLC, an affiliate of Macquarie Capital, has committed to buy an additional $20 million of TRTL equity as part of the transaction and Yatra will continue to own at least 35 per cent of the issued and outstanding shares in the combined company. 
 
In addition, existing shareholders of Yatra may receive additional consideration of up to $35 million upon the achievement of certain financial objectives during the 18 months. 
 
Yatra, which was founded in 2006, will continue to be led by co-founder Dhruv Shringi. 
 
Yatra customers booked more than 2.8 million air travel reservation and hotel stays with total transaction value worth more than $900 million during fiscal year ended March 2016 at a growth of 25 per cent. 
 
(Image: Thinkstock)

Online travel portal Yatra is merging with Terrapin 3 Acquisition Corp, to be listed on NASDAQ

In this day and age where social media and e-commerce are ruling the digital space, half a dozen <keyword id="950489" type="UNKNOWN" weightage="100" keywordseo="travel-e-commerce">travel e-commerce</keyword> companies have plans to take about 1,500 people onboard in the coming year. Most of these hirings would be done for technology, product development and marketing profiles. 
 This has come at a point when most startups are finding it hard to stay afloat. However, the travel industry has its own reasons to not get affected by the downfall in the startup sector. With frequent flash sales that have made flying cheaper, leisure travel is the new in thing for urban Indians. With this, the travel market is showing signs of promise, and travel companies like <keyword id="984795" type="UNKNOWN" weightage="100" keywordseo="goibibo">Goibibo</keyword>, <keyword id="944934" type="COMPANY" weightage="100" keywordseo="TravelTriangle">TravelTriangle</keyword> and <keyword id="2759998" type="UNKNOWN" weightage="100" keywordseo="iTraveller">iTraveller</keyword> have plans to increase their staff to at least double of what already is. 
 Other established players, like <keyword id="6362992" type="COMPANY" weightage="100" keywordseo="yatra">Yatra</keyword>, <keyword id="54613" type="COMPANY" weightage="100" keywordseo="makemytrip">MakeMyTrip</keyword> and <keyword id="132652" type="COMPANY" weightage="100" keywordseo="Cleartrip">Cleartrip</keyword>, have plans to hire for their technology teams. 
 
For working professionals too, travel space is an exciting place to be. "Travel is a great place to be in because it's so realtime and dynamic. I like the energy of constantly being updated and ahead of the curve," Vaibhav Arora, digital marketing manager at TripHobo, told ET. 
 
These perks include easy access to travel and hotel deals, not to forget constant updates about discounts and good times to book airline tickets. 
 
<a href="http://www.arabianindustry.com/static/content/images/larger1/jc-368217.jpg">Image source</a>

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