Yatra appoints Anuj Sethi as interim CFO following the exit of former Group CFO Rohan Mittal, who officially stepped down on April 10, 2025. The travel tech company chose to bring back Sethi, a veteran finance executive who previously served as Yatra’s CFO and has been part of the organization for more than a decade. His immediate assumption of duties comes at a critical juncture as the company navigates Q4 financial disclosures and a growing travel market. Yatra confirmed that the transition aligns with Section 203 of the Companies Act, 2013, and has full backing from the board’s Nomination, Remuneration, and Audit Committees. Sethi’s deep understanding of Yatra’s internal financial structure positions him as the ideal candidate to maintain fiscal continuity while the search for a permanent CFO continues.
This move reflects a broader trend among Indian tech startups to rely on experienced internal leaders during transitional phases. nuj’s previous experience at Airfreight Ltd and his intimate knowledge of Yatra’s financial framework will ensure operational stability. Although the company has not yet disclosed a timeline for appointing a full-time CFO, Sethi will handle all responsibilities during the peak summer travel season. The leadership change also follows Yatra’s recent financial growth in Q3 FY25, where it reported a significant rise in PAT and an expanded corporate client base. This article explores the context of Yatra’s business model, the implications of this strategic leadership decision, and what it signifies for the broader startup and travel ecosystem in India.
1. Understanding Yatra’s Working and Revenue Model
1.1 Company Overview
Yatra Online Ltd., founded in 2006 by Dhruv Shringi, Manish Amin, and Sabina Chopra, is one of India’s leading online travel aggregators (OTAs). The company specializes in offering end-to-end travel booking services, including domestic and international flights, hotel bookings, homestays, holiday packages, buses, trains, cabs, and even cruises.
1.2 Revenue Streams
Yatra earns revenue through commission-based partnerships with airlines and hotels, convenience fees charged on bookings, and value-added services like insurance, visa assistance, and loyalty programs. With a strong B2B2C and B2E model, Yatra sets itself apart from competitors like MakeMyTrip and EaseMyTrip, which are primarily B2C-focused.
1.3 Funding and Growth Milestones
Yatra has undergone various funding rounds and strategic collaborations. The company got listed on NASDAQ and also led a successful IPO in India in September 2023 under the guidance of Rohan Mittal. It raised significant capital through private funding rounds, especially during 2022 when the travel sector was recovering from pandemic lows.
2. Yatra Appoints Anuj Sethi: Leadership Transition Explained
2.1 Immediate Appointment
Yatra appoints Anuj Sethi as interim CFO with immediate effect. Interestingly, the move comes just one day after the official exit of Rohan Mittal, who served as the Group CFO for over three years. Mittal’s resignation, filed on March 10, 2025, was attributed to personal reasons and a desire to explore new opportunities. Consequently, Yatra wasted no time in naming a replacement, thereby ensuring financial continuity.
2.2 A Familiar Face Returns
Sethi is no stranger to Yatra. He previously served as the company’s CFO and recently held dual roles as the Principal Financial Officer and Principal Accounting Officer. With over a decade at Yatra, Sethi brings deep institutional knowledge and financial expertise to the table.
2.3 Compliance and Governance
The appointment ensures that Yatra remains compliant with Section 203 of the Companies Act, 2013, which mandates companies to have key managerial positions filled at all times. The decision received unanimous support from both the Nomination and Remuneration Committee and the Audit Committee.
3. Background: Who is Anuj Kumar Sethi?
3.1 Career Highlights
Anuj Sethi is a cost accountant by training and has significant experience in the financial operations of tech and travel companies. Before Yatra, he worked at Airfreight Ltd., further strengthening his credentials in logistics and financial management.
3.2 Role in Financial Continuity
Thanks to his in-depth understanding of Yatra’s financial systems and compliance protocols, Sethi is perfectly positioned to manage operations efficiently. Moreover, he is expected to do so without disrupting ongoing strategic initiatives. Given that the summer travel season is already underway, the company requires quick decision-making and robust financial oversight. These are precisely the areas where Sethi is anticipated to thrive.
4. Why This Move Matters Now
4.1 Financial Milestones
Yatra’s Q3 FY25 results showed a substantial rise in profit after tax (PAT) to INR 10 Cr, up from INR 1.05 Cr year-on-year. Operating revenue also surged 113% YoY to INR 235.25 Cr. However, sequential revenue dipped slightly by 0.4%.
4.2 Market Dynamics
The gross air bookings dropped 14% YoY to INR 1,382.8 Cr. However, the corporate customer base grew by 40% during the same period, highlighting a stronghold in the B2B segment.
4.3 Strategic Implications
With Sethi at the helm, Yatra aims to sustain this financial momentum. The appointment underlines the importance of experienced internal leaders in driving fiscal responsibility, especially when the company is yet to announce a timeline for a permanent CFO.
5. Industry Trends and Competitive Landscape
5.1 Reliance on Internal Talent
Startups across India are increasingly opting to elevate internal candidates during leadership transitions. This reduces onboarding time and leverages existing institutional knowledge.
5.2 Growth in Online Travel Market
The Indian online travel market is projected to grow at a CAGR of over 10% through 2028. Yatra’s B2B2C model gives it a competitive edge as corporate travel rebounds.
5.3 Leadership Changes Across Industry
Yatra’s leadership shake-up follows a similar pattern seen in startups like Delhivery and Swiggy, where executive changes are being made to align better with evolving business goals and market pressures.
6. Learning for Startups and Entrepreneurs
6.1 Prioritize Internal Talent During Transitions
Promoting from within can significantly reduce transition time and operational disruption. It ensures continuity and preserves institutional memory.
6.2 Financial Agility is Key
As seen in Yatra’s case, having a financially astute leader like Sethi can help companies steer through periods of uncertainty and maximize seasonal business opportunities.
6.3 Compliance and Governance Matter
Aligning leadership decisions with legal mandates like Section 203 ensures that startups remain compliant, avoid penalties, and maintain stakeholder trust.
6.4 Stay Customer-Centric Even During Changes
Yatra’s strong performance despite leadership changes shows that maintaining customer-centricity—especially in B2B segments—can ensure business stability.
7. About The Startups News
When it comes to tracking India’s dynamic startup landscape, The Startups News is your go-to destination. Whether you’re an entrepreneur, investor, or just an enthusiast of emerging business stories, our platform delivers well-researched insights, daily tech news, business strategies, and startup funding updates. For startups in travel tech or any other vertical, we ensure comprehensive and personalized coverage that reflects the true pulse of the Indian startup ecosystem.