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Updated: MakeMyTrip Reports Q211 Loss Of $1.8M; Gross Bookings Up 49%

Update: MakeMyTrip's share price, following the announcement of the results, fell off a cliff. At the end of November 15 2010, MMYT was trading at $28.02, down 26.55% (by $10.13). We were expecting a re-rating of the share after its first quarter as a listed company - the sense that we got from various analyses is that it was being rated in comparison with Chinese OTA CTrip. Well, India isn't China. Now, one impact of the MakeMyTrip listing, was a re-rating of other NASDAQ listed Indian Internet stocks - Rediff.com and Sify. No effect on them yet. Lets see what happens over the next few days... Earlier: MakeMyTrip Limited, in its first quarter as a public listed company, has reported gross booking of $156 million for the quarter ending September 30th 2010, up $51.2 million (48.83%) year on year, on the back of healthy growth in transactions: Air Ticket transactions grew 34.74% year on year, leading to a 47.13% growth in gross bookings, while Hotels & Packages grew 41.44%, leading to a 63.94% growth in gross revenue from the segment. For the period, MMYT reported a loss for the period of $1.795 million, compared with profit of $0.019 million for the same period last year. At the end of the period, MMYT had a Cash and cash equivalents balance of $56,980,463. In a statement, the company has given a guidance of $58 million and $61 million, for revenue less service cost. Air Ticketing and Hotels & Packages Segments - Air Ticketing:…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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