Online travel agent MakeMyTrip says that it has more than 7 million monthly active users (MAUs) for its mobile apps and more than 33.5 million cumulative app downloads at the end of December 2016. The company takes into account apps installed on Android, iPhone and Windows Phone platforms.
The company said that it is now focussing on a mobile first approach. MakeMyTrip said that 74% of domestic hotels orders are on mobile and 48% of domestic flight orders are from mobile.
Meanwhile, MakeMyTrip reported revenues of $120 million for the quarter ended March 2017 (Q4 FY17), an increase of 36.4% from $88 million in the same quarter last year. It reported a net loss of $73.1 million as compared to a loss of $49.9 million in the quarter ended March 31, 2016. Losses stemmed from marketing expenses and costs related to employees following the ibibo merger.
Hotels and packages segment: Revenues from its hotels and packages segment increased by 22.6% to $78.9 million compared to $64.4 million in the lame quarter last year. Transactions for MakeMyTrip India hotels booked online increased by 95.4% YoY in the quarter. MakeMyTrip India online hotels business represented over 97.4% of all hotels and packages transactions in the quarter.
Air-ticketing revenues: Revenue from the air ticketing business increased by 48.1% to $32.9 million in the quarter from $22.2 million in the quarter ended March 31, 2016. This increase was due to an increase in gross bookings of 43.0% driven by 42.4% increase in the number of transactions year over year along with the consolidation of the ibibo Group, the company said.
Other revenue: Other revenue increased to $8.3 million from $1.4 million in the quarter ended March 31, 2016, primarily due to the contribution of bus ticketing revenue from the ibibo Group. Note with the merger with the ibibo Group, MakeMyTrip also acquired redBus, Ryde and Rightstay brands.
Marketing and sales promotion expenses: MakeMyTrip’s marketing and sales promotion expenses increased by 48.9% to $78.8 million in the quarter compared to $53.0 million in the same quarter last year. This was primarily due to customer inducement and acquisition programs in the hotel booking business. The company also incurred costs in ad campaigns and download and referral expenses.
Personnel and employee expenses: Employee expenses increased by 178.0% to $32.7 million from $11.8 million in the same quarter last year mainly due to higher share-based compensation costs related to the ibibo acquisition. The share-based compensation costs also included a one-time charge of $9.0 million as part of the acquisition.
Operational numbers:
Transactions for hotels and packages: 2.35 million up 77.92% from 1.32 million in the same quarter last year.
Transactions for air ticketing: 2.71 million up from 42.43% from 1.9 million in the same quarter last year.
Gross bookings for hotels and packages: 214.2 million up from 158.26 million in the same quarter last year.
Gross bookings for air ticketing: 455.9 million an increase from 318.88 million.
Download: Investor presentation, press release and financials
