New Delhi, April 13 -- Bengaluru: "Ladies and gentlemen, are you ready for the summer vacation," M.S. Dhoni asks, donning a pilot's uniform in a Cleartrip ad that aired around a year ago. The Indian cricket legend, known to command top dollar for brand endorsements, lays out the pitch around steep discounts-10% off on international flights and up to Rs.2,000 off on international hotel bookings-for new users.

gloss ad, released in mid-2024, was Cleartrip's big push to grab mindshare in a crowded travel booking market. Over the last couple of years, the company has been trying to make a comeback with such promotions.

But while it took a good swing, a look at the company's FY24 financials, released a few months back, reveals many misses: C...