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MakeMyTrip Reports $7.5M Loss In Q2-FY14; Air Ticketing & Hotel Booking Revenue Up

Online travel agent MakeMyTrip continues to report increased losses: a net loss of $7.5 million for the quarter ended September 30, 2013 (Q2-FY13), up significantly from $1.23 million loss reported in the same quarter last year. This is MakeMyTrip's fourth consecutive loss making quarter. This loss was on a net revenues (revenues less service costs) of $23.3 million for the quarter, up 15.6% from $20.16 million revenues in the same quarter last year. The company reported an adjusted net loss of $2.92 million for the quarter, as compared to an adjusted net income of $1.17 million in the same quarter last year while the gross bookings increased by 4% year-on-year (YoY) to $272.6 million from $262 million in the same quarter last year. Air Ticketing Increase 5%: Net revenues from Air Ticketing increased by 5% YoY to $15.2 million from $14.5 million in Q2-FY13, due to a 24.7% increase in transactions to 1.12 million for the quarter, from 0.9 million transaction in the same quarter last year. The company attributed this increase in transactions to lower airfares in the quarter. Gross bookings however declined by 2.2% YoY to $217.7 million for the quarter, down from $222.6 million in Q2-FY13. Net revenue margins increased to 7% from 6.5% last year due to a decline in the average transaction value. Air Ticketing contributed for 65.2% of MakeMyTrip’s net revenues for the quarter, down from 71.9% in the same quarter last year. Hotel and Packaging: The hotels and packages business also continues to grow significantly, registering a 43.4% YoY…

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