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MakeMyTrip Q1FY13 Results: Profits At $1.81M; Net Revenue At $23.88M

MakeMyTrip has reported gross booking of $271.47 million for the quarter ending June 30th 2012, up 2.8% year over year. Air Ticket transactions declined 9.1% year on year, leading to a 1.9% drop in gross bookings, while Hotels & Packages transactions increased by 44.1%year on year, leading to a 25.4% growth in gross revenue from the segment. For the quarter, MMYT reported a profit for the period of $1.819 million, compared with $1.517 million for the same period last year, on a Net Revenue (total revenue less service cost) growth of 19.9% to $23.882 million, up from $21.104 million year on year. Segment Details Air Ticketing:  Revenue from air ticketing increased by 17.1% to $17.2 million for the quarter, up from $14.7 million in the same quarter last year. Net revenue margins increased to 7.3%, from 6.6% a year ago. Gross bookings were down 1.9%. Hotels and Packages: Revenue from hotels and packages business increased by 25.1% to $45.8 million for the quarter, up from $36.6 million a year ago. Net revenue (revenue less service cost) increased by 20.2% to $7.1 million, from $5.9 million for the quarter ending June 2011. Gross bookings were up 25.4%, net revenue margin reduced to 12.5% from 13.1% a year ago. Highlights: Buying remaining shares of Luxury Tours & Travels: In July 2012, the Company entered into an agreement with the remaining shareholders of Luxury Tours & Travel Pte Ltd (LTT) which amended the terms of the original share purchase agreement (SPA) signed in February 2011, according to which, the Company will…

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