Online travel agent MakeMyTrip continues to report increased losses: a net loss of $9.1 million for the quarter ending June 30, 2013 (Q1-FY14), as compared to a $1.81 million profit reported in the corresponding quarter last year. This was on a Net Revenues (Revenue less service costs) of $26.01 million, up 8.9% from $23.88 million revenues in the same quarter last year. This is the third straight loss making quarter for MakeMyTrip. The company says that excluding the effects of employee share-based compensation costs, merger and acquisitions related expenses, amortization of acquisition related intangibles, net change in fair value of financial liability in business combination, net loss on change in the fair value of derivative financial instruments and income tax benefit for the first quarter of both fiscal years 2014 and 2013 and the direct cost related to share registration by the shareholders in the quarter ended June 30, 2013, it would have registered a net loss (rather, Adjusted Net Loss) of $5.1 million for the quarter, as compared with a net profit (Adjusted Net Profit) of $1.8 million for the same quarter last fiscal. Air Ticketing Revenues Decline: Earnings were pulled by a decline in net revenue from Air Ticketing, which was down 8.5% YoY to $14.25 million from $15.58 million in Q1-FY13. This was despite a 17% increase YoY in gross bookings to $251.1 million for the quarter and a 15.5% increase YoY in transactions to 0.95 million for the quarter. The net revenue margins declined to 5.7%…
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