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Hotel & Packages biz is now bigger than Air Ticketing for MakeMyTrip

Online travel agent MakeMyTrip has reported losses of $3.96 million for the quarter ended June 30, 2014, a significant improvement from $9.1 million loss in the same quarter last year. This is however MakeMyTrip's seventh straight loss making quarter. The net revenues (revenues less service costs) also saw a significant growth to $35.45 million for the quarter, registering a 36.3% growth year-on-year (YoY) from $26.01 million in the same quarter last year. Gross bookings grew by 28.8% YoY to $432.2 million from $335.5 million in the same quarter last year. Hotel & Packages revenues surpass Air ticketing revenues This is a significant quarter for MakeMyTrip since the Hotel & packages business has finally surpassed Air ticketing revenues for the quarter. Revenues from Hotel & packages business was at $17.87 million for the quarter, up 64.6% YoY while the revenues from air ticketing business was at $16.48 million, up 15.6% YoY. It's worth noting that the hotel & packages segment has been driving the company's revenue growth for the past few quarters. The company attributed this increase in hotel & packages business to a 77.8% YoY increase in gross bookings to $150.1 million and a significant 106.5% increase in the number of transactions to 0.38 million for the quarter. MakeMyTrip mentions that the acquisition of Easytobook group in February this year also helped the growth in this segment. The growth was however offset by a decline in net revenue margin to 11.9% for the quarter from 12.9% in the same quarter last year. The contribution of hotel & packages segment to MakeMyTrip's overall revenues is now at 50.41% for the quarter, up from 41.75%…

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