Yatra Online Ltd., a prominent player in India’s online travel sector, has announced the appointment of Anuj Kumar Sethi as its interim Chief Financial Officer (CFO). The move follows the resignation of former Group CFO Rohan Purshottamdas Mittal, who stepped down on April 10 to pursue new opportunities.
A Familiar Leader Steps In
Anuj Kumar Sethi, a cost accountant with extensive experience in corporate finance, previously held the CFO role at Yatra and has over a decade of expertise in managing the company’s financial operations. His prior stint with Airfreight Ltd. further bolsters his credentials. Known for his hands-on approach, Sethi’s familiarity with Yatra’s systems is expected to ensure a seamless transition during this interim period.
Regulatory Compliance and Strategic Approval
The appointment adheres to Section 203 of the Companies Act, 2013, which mandates the appointment of key managerial personnel. Yatra’s Nomination and Remuneration Committee and Audit Committee have both endorsed Sethi’s return, emphasizing continuity and stability. The company clarified that Sethi will serve until a permanent CFO is selected, with the recruitment process already in motion.
Mittal’s Exit and Gratitude
Rohan Mittal, who joined Yatra in 2022, played a critical role in its India IPO in September 2023 and led key financial initiatives. In his resignation letter, Mittal expressed appreciation for the team’s support and pledged a smooth handover. “I leave with immense gratitude and wish the company continued success,” he stated.
Navigating Peak Travel Demand
Sethi assumes leadership at a pivotal time, with the summer travel season underway. Yatra recently reported a consolidated net profit of ₹10 crore in Q3 FY25, driven by strong operating revenue growth. However, gross air bookings saw a marginal dip, highlighting the need for strategic focus during peak months.
Corporate Clientele: A Growth Driver
Yatra distinguishes itself by prioritizing corporate clients (B2B2C) and enterprise partnerships (B2E), a segment that grew by 40% in Q3 FY25. The platform offers end-to-end travel solutions, including flights, hotels, holiday packages, and inter-city cab services, catering to India’s evolving business travel needs.
While Yatra has not specified a timeline for appointing a permanent CFO, the board assures stakeholders of a rigorous selection process. The interim arrangement aims to maintain financial stability as the company prepares for its Q4 FY25 results.