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MakeMyTrip domestic room nights rise 132.7%, quarterly losses narrow

Date:2018-06-04 18:31Source:ChinaTravelNews ReadingNumber: Times

For the latest fiscal quarter ended March 31, 2018, MakeMyTrips revenue from air ticketing business increased by 37.8% to $45.3 million.

India’s leading online travel company MakeMyTrip announced its unaudited financial and operating results for its fourth fiscal quarter and full fiscal year ended March 31, 2018.

Financial Highlights for Fiscal 2018 Fourth Quarter and Full Year

* Room nights for MMT India Standalone Hotels – Online increased by 132.7% YoY in 4Q18 and by 130.7% YoY in FY18.

* Flight segments for Air ticketing business increased by 55.1% YoY in 4Q18 and by 62.2% YoY in FY18.

* Revenue increased 27.3% YoY in 4Q18 and 46.8% YoY in FY18.

“In Fiscal Year 2018, we successfully integrated two leading online travel brands, increased our market leadership and achieved record bookings and net revenue scale while greatly narrowing our operating losses,” said Deep Kalra, Founder, Group Chairman and Group CEO. “With our industry leading scale, focus on customer experience and technology innovations, we believe we can continue to expand our leadership and outpace market growth in the nascent India online travel market for the years to come.”

Fiscal 2018 Fourth Quarter Financial Results

Revenue: We generated revenue of $157.8 million in the quarter ended March 31, 2018, an increase of 31.5% (27.3% in constant currency) over revenue of $120.0 million in the quarter ended March 31, 2017.

Air Ticketing: Revenue from our air ticketing business increased by 37.8% (33.6% in constant currency) to $45.3 million in the quarter ended March 31, 2018 from $32.9 million in the quarter ended March 31, 2017.

Hotels and Packages: Revenue from our hotels and packages business increased by 18.4% (14.0% in constant currency) to $93.4 million in the quarter ended March 31, 2018, from $78.9 million in the quarter ended March 31, 2017.

Other Revenue: Our other revenue increased to $19.1 million in the quarter ended March 31, 2018 from $8.3 million in the quarter ended March 31, 2017.

Loss: As a result of the foregoing factors, our loss for the quarter ended March 31, 2018 was $44.1 million as compared to a loss of $73.1 million in the quarter ended March 31, 2017.

Fiscal 2018 Full Year Financial Results

Revenue: We generated revenue of $675.3 million in the year ended March 31, 2018, an increase of 50.9% (46.8% in constant currency) over revenue of $447.6 million in the year ended March 31, 2017.

Air Ticketing: Revenue from our air ticketing business increased by 41.2% (37.1% in constant currency) to $167.4 million in the year ended March 31, 2018 from $118.5 million in the year ended March 31, 2017.

Hotels and Packages: Revenue from our hotels and packages business increased by 40.0% (35.9% in constant currency) to $440.0 million in the year ended March 31, 2018, from $314.3 million in the year ended March 31, 2017.

Other Revenue: Our other revenue increased to $67.9 million in the year ended March 31, 2018 from $14.8 million in the year ended March 31, 2017.

Loss: As a result of the foregoing factors, our loss for the year ended March 31, 2018 was $220.2 million as compared to a loss of $110.3 million in the year ended March 31, 2017.

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