Online travel agent MakeMyTrip reported a net loss of $62.32 million for the quarter ended September 30, 2017 (Q2 FY18). Losses widened from $39.45 million in the same quarter last year. Profitability was weighed down by the increase in marketing and sales promotion expenses, which stood at $115.9 million, up 139.8% year-on-year (YoY) from $48.4 million in the same quarter last year. In Q1 FY18, marketing and sales promotion expenses were $133.021 million. Note: 1 USD = 64.6 INR Personnel expenses increased significantly by 103.7% to $29 million in the quarter from $14.2 million in the same quarter last year. This was "mainly due to the consolidation of the ibibo acquisition, an annual increase in wages in fiscal year 2017 and severance cost related to a prior acquisition," the company said. In Q1 FY18, personnel expenses stood at $29.8 million. Total revenue stood at $152.9 million up 84% from $83.1 million in the same quarter last year. The company mentioned that in Q2 FY18, revenue includes certain customer discounts (essentially promotion expenses) to the tune of $19.9 million. Hotel and packages revenue Hotels and packages continued to be the majority contributor to MakeMyTrips’s revenue. Revenue from the segment stood at $98.3 million, up 70.5% from $57.6 million in the corresponding quarter last year. Gross bookings for hotels and packages stood at $342.3 million up 125.7% from $151.67 million in the same quarter last year. The Total number of transactions stood at 3.52 million up 140.7% from 1.46 million in Q1 FY18. Air ticketing revenue Revenue…
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