MakeMyTrip

Losses nearly doubled for MakeMyTrip for the quarter ended September 30 from the preceding quarter. Losses stood at $12.22 million as compared to $6.9 million in the preceding quarter. The company had posted a loss of $4.79 million in the same quarter last year. This is MakeMyTrip’s twelfth straight loss making quarter.

However, the net revenues (revenues less service costs), increased 3.6% to $33.2 million from $32.05 million from the same period last year. On a sequential basis, net revenues decreased 12.86% from $36.36 million. Gross bookings in the entire company grew 18.4% y-o-y to $431.3 million.

Air Ticketing: Revenues from Air ticketing business grew marginally 2.43% to $18.67 million for the quarter, from $18.23 million in the same quarter last year. Transactions for air ticketing grew by 7.22% y-o-y to 1.68 million in the quarter. Gross bookings increased 8.06% y-o-y to $315.30 million.

Air Ticketing accounted for 54.70% of MakeMyTrip’s net revenues for the quarter, up from 51.97% in the preceding quarter.

MakeMyTrip CEO Deep Kalra had informed that in Q4-Fy15, mobile users accounted for more than 40% of total online traffic and 22% of online transactions for the company in India.

Hotel and Packaging: Revenues from the hotels and packages business grew by 7.30% to $13.43 million for the quarter, from $12.51 million in the same quarter last year. Number of transactions grew by 82.03% to 0.54 million for the quarter, from 0.30 million transactions in the same quarter last year.

Gross bookings increased 14.98% to $116.03 million for the quarter, from $100.92 million in the same quarter last year.

Hotels and Packaging business contributed for 40.43% of MakeMyTrip’s net revenues for the quarter.

It is worth remembering that the segment has been driving MakeMyTrip’s revenue growth for a few quarters now and had even surpassed Air ticketing revenues for the company in Q2-FY15.

Other Revenue: Other revenue at the company increased to $1.62 million in the quarter ended September 30, 2015 from $1.31 million in the quarter ended September 30, 2014, primarily due to an increase in facilitation fees on travel insurance.

 

Other developments

– Earlier this month, MakeMyTrip delisted budget hotel chains Oyo Rooms and Zo Rooms from its platforms. Others who followed the same were Goibibo and Yatra.

– In September, the company  revamped its loyalty program and re-launched it as My Rewards. The program will offer various benefits to members like a free hotel room-night voucher of Rs 3500 on 4 completed bookings. Payback points are also given to members using the platform.

– In August, launched an Android app which lets users book round trip train tickets in English, Hindi, Gujarati, Tamil, Malayalam and Telugu. The company said that it was investing in services supported by regional content.

Download: Press release and financials