Online travel agent MakeMyTrip has reported operational adjusted revenues of $179.8 million for the quarter ended December 31, 2018, 18.8% YoY higher from revenues of $151.4 million in Q3FY18. The revenues include promotional expenses of $93.6 million in Q3FY19, and $24.3 million in Q3FY18.

However, the company narrowed losses in the quarter by 34.8% YoY to $22.1 million, from losses of $33.9 million in Q3FY18.

Hotels & packages

Revenue from the hotels and packages segment increased 13.8% to $95.4 million from $83.8 million in Q3FY18. Promotional expenses for the segment amounted to $74.4 million which have been deducted from the adjusted revenue.

  • Gross bookings represent the total amount paid by customers for services booked on MMT, including taxes, fees, net of cancellations, discounts and refunds. For this segment, gross bookings increased by 9.3% to $402 million from $367 million in Q3FY18.
  • Room nights is the total number of hotels rooms occupied multiplied by the number of nights the room is occupied. This increased 25.5% to 7 million from 5.5 million in Q3FY18.
  • Standalone hotels measures the hotels rooms booked via online methods such as on desktops, laptops, mobiles, etc. This increased 27% to 6.8 million rooms from 5.3 million rooms in Q3FY18.

Air ticketing

Revenue from air ticketing increased 19.3% to $60.7 million in Q3FY18 from $50.9 million in this quarter. The company said that the segment revenues improved due to increase in gross bookings of 19%, driven by a 19.4% increase in the number of air ticketing segments YoY. The company incurred promotional expenses of $18.2 million, which have been deducted from the adjusted revenues.

  • Gross bookings in air ticketing amounted to $821 million, reporting a 19% YoY increase from $689 million in Q3FY18.
  • Flight segments increased 19.4% to 10 million segments from 8.4 million in Q3FY18.

Bus ticketing

Segment-wise, revenues from bus ticketing marked the highest increased of 30% from $11.5 million in the same quarter last year to $15 million this quarter. The revenues included promotional expenses of $3.6 million this quarter.

  • Gross bookings in bus ticketing increased the largest by 46.5%, significantly higher than the two other segments to $190 million from $129 million in Q3FY18. The company said that the increase was due to increased tickets and the impact of consolidation of Bitla Software Pvt Ltd acquired last quarter.
  • Travelled tickets on buses increased 58.3% from 10 million tickets the same quarter last year to 12 million tickets.

Other revenues

Adjusted revenues increased to $8.6 million in this quarter from $5 million in Q3FY18. The company attributed the increase to an increase in facilitation fees from travel insurance, and increase in ancillary services from alliances and affiliate partnerships.

Download: Financials