Operating Segments

12 Months Ended

Mar. 31, 2023

Disclosure of operating segments [abstract]

OPERATING SEGMENTS

The Group has three reportable segments, as described below, which are the Group’s Lines of Business (LoBs). The LoBs offer different products and services, and are managed separately because the nature of products and services, and methods used to distribute the services are different. For each of these LoBs, the Group’s executive officers comprising of Group Executive Chairman (till March 31, 2022), Group Chief Executive Officer and Group Chief Financial Officer review internal management reports and are construed to be the Chief Operating Decision Maker (CODM). LoBs assets, liabilities and expenses (other than service cost) are reviewed on an entity-wide basis by the CODM, and hence are not allocated to these LoBs. Segment revenue from each LoB is reported and reviewed by the CODM on a monthly basis.

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

1. Air ticketing: Primarily through internet based platforms, provides the facility to book domestic and international air tickets.

2. Hotels and packages: Through internet based platforms, call-centers and franchise stores, provides holiday packages and hotel reservations. The revenue related to airline tickets issued as a component of Company developed tours and packages has been assigned to the hotels and packages segment and is recorded on a gross basis.

3. Bus ticketing: Primarily through internet based platforms, provides the facility to book domestic and international bus tickets.

Other operations of the Group primarily include income from facilitating access to its internet based platforms to travel insurance companies and other agents, advertisement income from hosting advertisements on its internet websites, fees for technical services from vendors, marketing alliance fees, income from sale of rail tickets, car bookings, arranging foreign currency and other travel related ancillary services. These aforesaid 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.

Information about reportable segments:


	For the year ended March 31
	Reportable segments
	Air ticketing						Hotels and packages						Bus ticketing						All other segments**						Total
Particulars	2021		2022		2023		2021		2022		2023		2021		2022		2023		2021		2022		2023		2021			2022			2023
Consolidated revenue		57,013		88,712		147,793		67,976		157,267		337,686		24,895		39,896		74,873		13,556		18,047		32,684		163,440			303,922			593,036
Add: Customer inducement costs recorded as a reduction of revenue*		23,513		67,090		135,338		18,652		41,545		90,487		667		1,814		8,025		76		798		1,902		42,908			111,247			235,752
Less: Service cost**		293		311		3,078		19,146		54,760		168,387		2,712		3,397		5,596		66		282		506		22,217			58,750			177,567
Adjusted Margin		80,233		155,491		280,053		67,482		144,052		259,786		22,850		38,313		77,302		13,566		18,563		34,080		184,131			356,419			651,221
Other income																										3,672			3,490			2,798
Personnel expenses																										(105,661	)		(116,924	)		(131,968	)
Marketing and sales promotion expenses																										(22,741	)		(51,033	)		(101,601	)
Customer inducement costs recorded as a reduction of revenue*																										(42,908	)		(111,247	)		(235,752	)
Certain loyalty program costs related to "All other segments"**																										(91	)		—			—
Other operating expenses																										(51,075	)		(81,575	)		(133,698	)
Depreciation, amortization and impairment																										(33,010	)		(29,496	)		(27,396	)
Finance income																										12,100			9,984			10,974
Finance costs																										(4,798	)		(26,326	)		(46,732	)
Share of profit (loss) of equity-accounted investees																										(168	)		34			10
Loss before tax																										(60,549	)		(46,674	)		(12,144	)

* For purposes of reporting to the CODM, the segment profitability measure i.e. Adjusted Margin is arrived at by adding back certain customer inducement costs including customers incentives, customer acquisition cost and loyalty program costs, which are recorded as a reduction of revenue and reducing service cost.

**Certain loyalty program costs excluded from service cost amounting to Nil (March 31, 2022: Nil and March 31, 2021: USD 91) for “All other segments”.

Assets and liabilities are used interchangeably between segments and these have not been allocated to the reportable segments.

Geographical Information:

In presenting information on the basis of geographical segments, segment revenue is based on the geographical location of customers. Segment assets are based on the geographical location of the assets.


	Revenue						Non-Current Assets*
	For the year ended March 31						As at March 31
Particulars	2021		2022		2023		2022		2023
India		161,313		298,245		564,284		711,292		663,857
United States		32		69		195		378		299
South East Asia		1,375		2,221		11,201		4,505		4,503
Europe		—		18		1,337		—		—
Others		720		3,369		16,019		3,896		4,121
Total		163,440		303,922		593,036		720,071		672,780

* Non-current assets presented above represent property, plant and equipment, intangible assets and goodwill, non-current tax assets, and other non-current assets (excluding financial assets).

Major Customers:

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