wordpress blog stats
Connect with us

Hi, what are you looking for?

MakeMyTrip posts net loss of $25.7M as marketing & personnel costs continue to increase

Online travel agent MakeMyTrip (MMT) reported a net loss of $25.7 million for the quarter ended March 31, 2018 (Q4 FY18).  The company had reported a net loss of $33 million in the same quarter last year. While the net loss has improved YoY earnings were weighed down by the increase of 70.8% in marketing and sales promotion expenses, which stood at $145.3 million, up from $85 million in the same quarter last year.

The company said that the primary drivers of this increase are customer acquisition programs to accelerate the growth of its hotel booking business and increases in brand advertisement, and the consolidation of marketing and sales promotion expenses of the ibibo Group.

MMT’s personnel expenses decreased by 13.1% at $28.4 million in the quarter down from $32.7 million in the same quarter last year. This was “mainly due to the higher share based compensation costs in the quarter ended March 31, 2017.” This included a one-time share-based compensation cost of $9.0 million following MakeMyTrip’s acquisition of ibibo.

Total revenue stood at $157.4 million up 31.5% from $120.33 million in the same quarter last year.

Hotel and packages revenue

  • Hotels and packages continued to be the majority contributor to MakeMyTrips’s revenue.
  • Revenue from the segment stood at $93.4 million, up 18.4% from $78.9 million in the corresponding quarter last year.
  • Gross bookings for hotels and packages stood at $305.1 million up 42.4% from $214.2 million in the same quarter last year, the increase was driven by the consolidation of the ibibo Group acquired in January 31, 2017.
  • The total number of transactions stood at 2.85 million up 21.5% from 2.35 million in Q4FY17.

Air ticketing revenue

  • Revenue from the air ticketing business increased by 37.8% to $45.3 million in Q4 FY18 from $32.9 million in Q4 FY17.
  • Gross bookings increased 63% to $743 million from $455.9 million in Q4 FY17.
  • The number of transactions stood at 4.2 million, up 56.7% from 2.7 million in the same quarter last year.

Other revenues

Other revenue includes redBus, Ryde and Rightstay brands, which MakeMyTrip acquired from ibibo. Other revenue stood at $19.1 million for the quarter, as compared to $8.3 million in Q4 FY17.
Bus ticketing revenue (less service costs) stood at $12 million for the quarter ended March 31, 2018.
This was primarily contributed by ibibo Group consolidation coming from 11 million travelled bus tickets. Bus tickets with gross bookings stood at $135.6 million.

Download: Financials

Advertisement. Scroll to continue reading.

Written By

Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

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

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ