MakeMyTrip Limited Announces Strong Fiscal 2011 Second Quarter Results
Fiscal Year 2011 Outlook
The company's long term outlook is optimistic. MakeMyTrip expects fiscal year 2011's revenue less service cost to be between $58 million and $61 million.
Deep Kalra, CEO and Founder, said "We believe MakeMyTrip is well positioned to capture the long term growth in travel services that comes with the growing Indian economy and its middle class. The expected roll out of broadband Internet services throughout the country will only continue to drive the popularity of e-commerce which will benefit online travel companies like MakeMyTrip for many years to come."
Conference CallMakeMyTrip will host a conference call to discuss the company's results for the quarter ended September 30, 2010 beginning at 10:00 a.m. EST on November 15, 2010. To participate, please dial 1-866-242-1388 from within the U.S. or +65-6722-6342 from any other country. Thereafter, callers will be prompted to enter the participant passcode 20831925. A live webcast of the conference call will also be available through the Investor Relations section of the company's website at http://investors.makemytrip.com. A telephonic replay of the conference call will be available for one week by dialing 1-866-214-5335 in the U.S. or by dialing +61 2 8235 5000 from any other country and using passcode 20831925. A one month replay of the live webcast will also be available at http://investors.makemytrip.com, shortly following the conclusion of the call. About Non-IFRS Financial Measures As certain parts of our revenues are recognized on a "net" basis and other parts of our revenue are recognized on a "gross" basis, we evaluate our financial performance based on revenue less service costs, which is a non-IFRS measure, as we believe that revenue less service cost reflects more accurately the value addition of the travel services that we provide to our customers. The presentation of this non-IFRS information is not meant to be considered in isolation or as a substitute for our consolidated financial results prepared in accordance with IFRS as issued by the IASB. Our revenue less service costs may not be comparable to similarly titled measures reported by other companies due to potential differences in the method of calculation.
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