Online travel stock surges 35% in four sessions, crosses IPO price after Q2 results

Shares of Yatra Online Ltd. gained as much as 20% on Wednesday, November 12, extending their gains for the fourth straight session. The stock had gained 14% on Tuesday as well in response to its September quarter results.

With this, shares have gained 35% in the last four trading sessions.

For the September quarter, Yatra Online's net profit nearly doubled from last year to ₹14.2 crore, which is 94.5% higher than the ₹7.3 crore it reported during the base quarter.

The company's revenue increased by 48.4% to ₹350.8 crore from ₹236.4 crore during the same quarter last year.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew more than 100% from last year to ₹23.7 crore from ₹9 crore. EBITDA margin for the quarter expanded by 300 basis points to 6.8% from 3.8% in the year-ago period.

The stock had seen similar moves when it had announced results for the June quarter.

Today's gains have come on very strong volumes as well. 3 crore shares of the stock have already changed hands by 12:20 PM, compared to the 20-day average of just 9 lakh shares at this time of the day.

With this four day move, the stock has also crossed its IPO price of ₹142 per share, making a new post-listing high of ₹196.3. The stock currently trades 12% higher at ₹185, after some profit booking kicked in at higher levels.