Operating Segments

12 Months Ended

Mar. 31, 2024

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. Adjusted Margin 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 and other services 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, brand 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	2022		2023		2024		2022		2023		2024		2022		2023		2024		2022		2023		2024		2022			2023			2024
Consolidated revenue		88,712		147,793		201,246		157,267		337,686		435,542		39,896		74,873		92,693		18,047		32,684		53,043		303,922			593,036			782,524
Add: Customer inducement costs recorded as a reduction of revenue*		67,090		135,338		116,423		41,545		90,487		123,695		1,814		8,025		9,432		798		1,902		440		111,247			235,752			249,990
Less: Service cost		311		3,078		—		54,760		168,387		210,357		3,397		5,596		—		282		506		4,732		58,750			177,567			215,089
Adjusted Margin		155,491		280,053		317,669		144,052		259,786		348,880		38,313		77,302		102,125		18,563		34,080		48,751		356,419			651,221			817,425
Other income																										3,490			2,798			770
Personnel expenses																										(116,924	)		(131,968	)		(147,587	)
Marketing and sales promotion expenses																										(51,033	)		(101,601	)		(123,304	)
Customer inducement costs recorded as a reduction of revenue*																										(111,247	)		(235,752	)		(249,990	)
Other operating expenses																										(81,575	)		(133,698	)		(204,833	)
Depreciation, amortization and impairment																										(29,496	)		(27,396	)		(27,267	)
Finance income																										9,984			10,974			24,365
Finance costs																										(26,326	)		(46,732	)		3,307
Share of profit of equity-accounted investees																										34			10			52
Profit (loss) before tax																										(46,674	)		(12,144	)		92,938

* 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 programs costs, which are recorded as a reduction of revenue and reducing service cost.

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

Geographical Information:

In presenting the geographical information, revenue is based on the geographical location of customers and 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	2022		2023		2024		2023		2024
India		298,245		564,284		739,652		663,857		656,154
United States		69		195		324		299		221
South East Asia		2,221		11,201		14,210		4,503		4,325
Europe		18		1,337		3,374		—		—
Others		3,369		16,019		24,964		4,121		737
Total		303,922		593,036		782,524		672,780		661,437

* 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.