GURUGRAM, India and NEW YORK, New York - Yatra Online, Inc. (NASDAQ: YTRA), a leading Indian travel services provider, has been actively pursuing its share buyback program, repurchasing 797,704 shares at an average price of $1.64 per share since the start of the current March quarter.
This latest round of repurchases adds to the 280,384 shares bought back in the December quarter of Fiscal Year 2024 at an average price of $1.56 per share, bringing the total shares repurchased to 1,044,638 at an average price of $1.63 per share since the board authorized a $5 million share buyback.
The company has been strategically buying back shares and transferring them to its registrar for cancellation. This process effectively reduces the number of outstanding shares, a move often aimed at increasing the value of remaining shares.
Yatra's share repurchase initiative does not have a predetermined expiration date, nor does it commit the company to acquire a set number of shares. The repurchases are executed at the company's discretion, influenced by multiple factors, including market price, general economic conditions, and regulatory requirements.
Yatra Online, Inc. is recognized as India's premier corporate travel services provider, with a substantial customer base of approximately 800 large corporations. It also ranks as one of the country's leading online travel agencies, offering a wide range of services. The company boasts a significant presence in the Indian hotel market, with approximately 105,600 hotels and homestays contracted across nearly 1,490 cities, as well as access to approximately 2 million international hotels.
This news is based on a press release statement.
InvestingPro Insights
Yatra Online, Inc. (NASDAQ: YTRA) continues to make headlines with its aggressive share buyback program, which aligns with some of the intriguing data points and InvestingPro Tips for the company. As of the latest metrics, Yatra holds a market capitalization of $91.48 million and is trading near its 52-week low, with a price previously closing at $1.5 per share. This could be an indicator of a potentially undervalued stock, considering the company's strategic buybacks.
InvestingPro Tips suggest Yatra is a company that holds more cash than debt on its balance sheet, which is a positive sign for investors looking for a stable financial position. Moreover, the stock is currently in oversold territory according to the Relative Strength Index (RSI), which could signal a buying opportunity for contrarian investors.
The company's revenue growth is also noteworthy, with an impressive 34.65% increase over the last twelve months as of Q3 2024. Despite not being profitable over the last year and analysts not expecting profitability this year, Yatra's revenue growth and high shareholder yield could be attractive to certain investors.
Given these insights, interested investors might want to explore the full range of 13 InvestingPro Tips available for Yatra, which could provide a deeper understanding of the company's potential. For those considering an InvestingPro subscription, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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