Yatra Online Inc: Falls after flagging pandemic's impact on business

Yatra Online

18/06/2020 22:59

** Indian travel firm's  YTRA.O  shares drop ~9% to $0.88
after the bell
    ** Co expects revenue for the quarter ended June 30 to be
between $1.8 mln and $2.2 mln compared with $32.6 mln for the
same period in 2019; says quarter is hurt by the significant
impact of the COVID-19 pandemic
    ** Adds that due to higher cancellations, refunds and lower
new bookings in air ticketing, hotels and packages segments, co
is experiencing unfavorable working capital trends and "material
negative" cash flow
    ** This is expected to continue until cancellations
stabilize and travel demand begins to recover from current
levels - Yatra
    ** Separately, the company also announces a proposed public
offering of its ordinary shares (https://bit.ly/37Fza8Z)
    ** YTD, stock down ~69%

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))