XML 460 R50.htm IDEA: XBRL DOCUMENT

Leases

12 Months Ended

Mar. 31, 2023

43. Leases

The Group has lease contracts for various items of buildings and other equipment used in its operations. Leases of buildings generally have lease terms between 2 and 9 years, while other equipment generally have lease terms of 3 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets and some contracts require the Group to maintain certain financial ratios. There are several lease contracts that include extension and termination options and variable lease payments.

The Group also has certain leases of buildings with lease terms of 12 months or less. The Group applies the ‘short term leases’ recognition exemptions for these leases.

Set out below are the carrying amounts of right-of-use assets recognized and the movement during the period;

	Buildings			Others			Total
Balance as of April 1, 2021		441,871			7,969			449,840
Additions		-			-			-
Deletions#		(157,509	)		-			(157,509	)
Depreciation (Refer note 13)		(54,674	)		(7,969	)		(62,643	)
Effects of movements in foreign exchange rates		22			-			22
Balance as of March 31, 2022		229,710			-			229,710
Additions		21,626			11,773			33,399
Deletions		(5,705	)		-			(5,705	)
Depreciation (Refer note 13)		(55,743	)		(906	)		(56,649	)
Effects of movements in foreign exchange rates		5			-			5
Balance as of March 31, 2023		189,893			10,867			200,760

The following are the amounts recognised in profit or loss:

	2022		2023
	March 31,
	2022		2023
Depreciation expense of right-of-use asset (Refer note 13)		62,643		56,649
Interest expense on lease liabilities (Refer note 16)		43,871		35,992
Expense relating to short-term leases (Refer note 12)		2,330		1,832
Total amount recognised in profit or loss		108,844		94,473

The following is the break-up of current and non-current lease liabilities as of March 31, 2022 and March 31, 2023:

	2022		2023
	March 31,
	2022		2023
Current lease liabilities		38,991		47,835
Non-current lease liabilities		230,668		203,393
Total		269,659		251,228

The following is the movement in lease liabilities during the year ended March 31, 2022 and March 31, 2023:

	2022			2023
	March 31,
	2022			2023
Balance as of April 1		502,968			269,659
Additions		-			33,395
Finance cost accrued during the period (Refer note 16)		43,871			35,992
Deletions#		(174,505	)		(9,956	)
Payment of lease liabilities*		(94,213	)		(77,864	)
Gain on modification of leases/rent concession (Refer note 10)		(8,485	)		-
Effects of movements in foreign exchange rates		23			2
Balance as of March 31		269,659			251,228

*	During the year ended March 31, 2023, payment of lease liabilities has been adjusted with security deposit of INR Nil (March 31, 2022: 13,798) due to termination of some lease contracts.

# During the year ended March 31, 2022, the Company has rationalized the space of its office premises in Gurugram, Haryana. On June 8, 2021, the Company has entered into a Memorandum of understanding to surrender part of its office space. Out of the total space of 83,988 square feet, the Company has surrendered 36,229 square feet. As a result of the same, the ROU and lease liability would be decreased by INR 136,738 and by INR 156,778 respectively.

The table below provides details regarding the contractual maturities of lease liabilities as of March 31, 2022 and March 31, 2023 on an undiscounted basis:

	March 31,
	2022		2023
Less than one year		74,457		79,832
One to five years		239,584		240,906
More than five years		84,618		28,639
Total		398,659		349,377

Yatra Online, Inc.

Notes to the consolidated financial statements

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