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MakeMyTrip Q2-FY13: Profits At $1.2M; Net Revenue At $20.15M

MakeMyTrip has reported gross booking of $261.98 million for the quarter ending September 30, 2012, up 7% year over year (YoY) from gross booking of $244.95 million in the same quarter last year. Air Ticket transactions declined 9.8% year on year, although gross bookings increased by 4.2%, while Hotels & Packages transactions increased by 46.8% YoY, leading to a 26.1% growth in gross revenue from the segment. For the quarter, MakeMyTrip reported an adjusted net income of $1.2 million, as compared to $1.6 million profit for the same period last year, on a Net Revenue (total revenue less service cost) of $20.15 million, down 5.5% from $21.33 million revenues in the same quarter last year. Segment Details Air Ticketing: Revenue from air ticketing stood at $15.3 million for the quarter, down 19.6% from $19 million in the same quarter last year. Net revenue (revenue less service cost) decreased by 12.8% to $14.5 million, from $16.6 million revenues in the same quarter last year. Net revenue margins declined to 6.5%, from 7.8% a year ago. Gross bookings were however up by 4.2% YoY due to higher airfares. Hotels and Packages: Revenue from hotels and packages business stood at $29.6 million for the quarter, up 24.3% from $23.8 million in the same quarter last year. Net revenue (revenue less service cost) increased by 30.5% to $4.9 million, from $3.8 million revenues for the same quarter last year. Gross bookings were up 26.1% and net revenue margin increased to 12.5% from 12.1% a year ago. Other Revenue:…

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