This is MakeMyTrip’s 15th straight loss making quarter. The company reported a loss of $14.3 million for the quarter ended June 2016 (Q1 FY17), up from $6.9 million for the same quarter last year. "Excluding the effects of employee share-based compensation costs, amortization of acquisition related intangibles, net change in value of financial liability related to business combination, share of loss of equity-accounted investees, income tax expense for both quarters ended June 30, 2016 and 2015; net change in fair value of derivative instrument for the quarter ended June 30, 2016 and merger and acquisitions related expenses for the quarter ended June 30, 2015, we would have recorded a net loss of $30.4 million in the quarter ended June 30, 2016 and a net loss of $2.2 million in the quarter ended June 30, 2015," it said. Segment revenue Revenues from the hotels and packages segment accounted for 56% of MakeMyTrip's total revenue in the quarter, largely because of a 478% increase in hotel booking for the company. During the quarter, MakeMyTrip reported 1.42 million hotel bookings, of which as many as 73% came on mobile. Hotels and packages, as a percentage of net revenue (revenue less service costs) stood at $33.21 million, around 56% of MakeMyTrip's total net revenue of $58.87 million. Standalone hotel bookings accounted for over 91% of hotels and packages. In November 2015,MakeMyTrip launched Value+, a brand of budget hotel rooms, offering rooms starting at Rs 1,000 per night. As we explained in detail earlier, airline ticketing as a business has…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...