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Segment information

12 Months Ended

Mar. 31, 2023

5. Segment information

For management purposes, the Group is organized into lines of business (LOBs) based on its products and services and has three reportable segments as mentioned below. The LOBs offer different products and services, and are managed separately because the nature of products and/ or methods used to distribute the services are different. For each of these LOBs, the Chief Executive Officer (CEO) reviews internal management reports for making decisions related to performance evaluation and resource allocation. Thus, the CEO is construed to be the Chief Operating Decision Maker (CODM). The CODM uses Adjusted Margin, a non IFRS measure, to assess segment profitability and in deciding how to allocate resources and in assessing performance. The Adjusted Margin is arrived at by (i) adding back customer inducement costs including customers incentives, customer acquisition cost and loyalty program costs, which are recorded as a reduction of revenue, and (ii) reducing service costs, from the ‘Revenue as per IFRS - Rendering of services.’

The following summary describes the operations in each of the Group’s reportable segments:

1. Air Ticketing: Through internet, mobile based platform and call-centers, the Group provides the facility to book and service international and domestic air tickets to ultimate customers through B2C (Business to Consumer), Business to Enterprise (B2E) and B2B2C (Business to Business to Consumer) channels.

2. Hotels and Packages: Through an internet and mobile based platform and call-centers, the group provides holiday packages and hotel reservations. For internal reporting purpose, the revenue related to Airline Ticketing issued as a component of group developed holiday package is assigned to Hotel and Package segment and is recorded on a gross basis. The hotel reservations form integral part of the holiday packages and, accordingly, is treated as one reportable segment due to similarities in the nature of services.

3. Other services primarily include the income from sale of rail and bus tickets and income from freight forwarding services. The Other services do not meet any of the quantitative thresholds to be a reportable segment for any of the periods presented in these consolidated financial statements. However, management has considered this as the reportable segment and disclosed it separately, since the management believes that information about the segment would be useful to users of the consolidated financial statements.

During the year ended March 31, 2023, the management has made certain changes in the presentation of segment information, among other matters, to align with recent changes in the internal management reports. These changes include (a) presentation of Revenue as per IFRS from rendering of services as starting point in the segment information instead of ‘Segment revenue’ (where segment revenue was arrived at after adding back customer inducement and acquisition cost to Revenue as per IFRS), (b) change in manner of presenting non-reportable segments, (c) consequential changes in presentation of reconciliation, and (d) change in nomenclature of segment profitability measure from ‘segment result’ to ‘Adjusted Margin.’ The management has also made corresponding changes in the segment information for the years ended March 31, 2022 and March 31, 2021. Apart from the revisions in the presentations and nomenclatures used, there is no change in the profitability measure that is used by the CODM for making decisions.

Information about Reportable Segments:

	2021		2022		2023		2021			2022			2023			2021		2022		2023		2021			2022			2023
	Reportable segments
	Air Ticketing						Hotels and Packages									Other Services						Total
Particulars	Mar-31						Mar-31									Mar-31						Mar-31
	2021		2022		2023		2021			2022			2023			2021		2022		2023		2021			2022			2023
Revenue as per IFRS - Rendering of services*		893,039		1,150,474		1,779,972		173,397			520,740			1,471,270			31,426		146,178		154,305		1,097,862			1,817,392			3,405,547
Customer inducement and acquisition costs		594,426		1,060,600		2,555,320		199,409			237,695			263,756			15,752		15,326		23,380		809,587			1,313,621			2,842,456
Service cost		-		-		-		(22,276	)		(159,284	)		(669,099	)		-		-		-		(22,276	)		(159,284	)		(669,099	)
Adjusted Margin		1,487,465		2,211,074		4,335,292		350,530			599,151			1,065,927			47,178		161,504		177,685		1,885,173			2,971,729			5,578,904

Other revenue #																							173,406			171,984			421,717
Other income																							132,045			158,648			152,520
Customer inducement and acquisition costs (recorded as a reduction of revenue)																							(809,587	)		(1,313,621	)		(2,842,455	)
Personnel expenses																							(778,915	)		(1,021,881	)		(1,148,434	)
Marketing and sales promotion expenses																							(79,584	)		(124,147	)		(336,472	)
Other operating expenses																							(978,315	)		(893,313	)		(1,554,963	)
Depreciation and amortization																							(749,480	)		(308,153	)		(190,152	)
Impairment of goodwill																							(264,909	)		-			-
Impairment of loan to joint venture																							-			(72,719	)		(1,000	)
Share of loss of joint venture																							(3,962	)		41,616			-
Finance income																							81,604			47,816			28,944
Finance cost																							(117,252	)		(100,453	)		(326,399	)
Listing and related expenses																							-			(55,818	)		(23,591	)
Change in fair value of warrants gain																							378,994			32,756			-
Loss before taxes																							(1,130,782	)		(465,556	)		(241,380	)
Tax expense																							(64,096	)		(16,906	)		(46,788	)
Loss for the period																							(1,194,878	)		(482,462	)		(288,168	)

*	There were no inter-segment revenue during the year ended March 31, 2023, March 31, 2022 and March 31, 2021. This amount constitutes ‘revenue from external customer’ only.

Other revenue primarily comprises the advertisement income from hosting advertisements on our internet web-sites, income from sale of coupons and vouchers and income from facilitating website access to travel insurance companies. The operations do not meet any of the quantitative thresholds to be a reportable segment for any of the periods presented in these consolidated financial statements.

Assets and liabilities are not identified to any reportable segments, since the Group uses them interchangeably across segments and, consequently, the Management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities.

Reconciliation of Reportable Segments Revenue to the Group’s Total Revenue:

Particulars	Total
	March 31
	2021		2022		2023
Revenue as per IFRS - Rendering of services		10,97,862		18,17,392		34,05,547
Other revenue		1,73,406		1,71,984		4,21,717
Total Revenue		12,71,268		19,89,376		38,27,264

Geographical Information:

Given that Company’s products and services are available on a technology platform to customers globally, consequently, the necessary information to track accurate geographical location of customers is not available.

Non-current assets are disclosed based on respective physical location of the assets.

	Non Current Assets*
	March 31, 2022	March 31, 2023
India	1,003,868	1,025,568
Others	98	-
Total	1,003,966	1,025,568

Non-current assets presented above represent property, plant and equipment, right-of-use assets and intangible assets and goodwill.

Major Customers:

Considering the nature of business, customers normally include individuals and business enterprises. Further, none of the corporate and other customers account for more than 10% or more of the Group’s revenues in any of the three year’s presented.

Yatra Online, Inc.

Notes to the consolidated financial statements

(Amount in INR thousands, except per share data and number of shares)