wordpress blog stats
Connect with us

Hi, what are you looking for?

MakeMyTrip narrows losses by 32% to $47M in Q2FY19

Online travel agent MakeMyTrip (MMT) has reported a net loss of $47 million for the quarter ended September 30, 2018 (Q2FY19). This was narrowed down by 32% from a net loss of $62.3 million in the same quarter last year. MMT’s personnel expenses decreased by 1% at $28.7 million in the quarter, from $29 million in the same quarter last year.

Total revenue stood at $103.6 million.

Starting this financial year, MMT began reporting accounts following a new standard – IFRS. Under this method, promotional and marketing expenses are not recorded as a separate expense, but deducted from the revenue. Therefore, this year’s revenue may not be comparable to the period before the standard came into place. The marketing and sales promotion expenses for the quarter was $45 million, down by 61% YoY from $116 million in the same quarter last year.

Hotel and packages revenue

Hotels and packages continued to be the majority contributor to MakeMyTrip’s revenue, but there was a fall in revenues this quarter – they stood at $45 million, down 54% from $98 million in the corresponding quarter last year. Gross bookings increased marginally 0.5% to $350 million in this quarter from $342 million in Q2 FY18.

The company did not share the number of transactions this quarter. In the quarter ended March 31, 2018, the total number of transactions stood at 2.85 million.

Advertisement. Scroll to continue reading.

Air ticketing revenue

Revenue from the air ticketing business increased by 19% to $56.5 million in Q2FY19 from $47 million in Q2FY19. Gross bookings for air ticketing stood at $85 million up 14% from $79 million in the same quarter last year. The company did not share the number of transactions this quarter. Last quarter, the total number of transactions stood at 4.2 million.

Bus ticketing revenue

Bus ticketing revenue stood at $12 million for the quarter ended September 30, 2018, up from $9 million same quarter last year. Gross bookings for bus ticketing stood at 144 million.

MakeMyTrip did not report its “Other” revenues this quarter, see the last quarter’s other revenues here.

Download: Financials

Advertisement. Scroll to continue reading.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

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

Views

News

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

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like

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...

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

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...

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