Deep Kalra, CEO and Founder, said "MakeMyTrip is the leader in India's rapidly growing online travel market. We believe our continuous focus on improving our customers' booking experience, providing innovative travel products and strengthening supplier relationships will continue to make us the Indian online travel portal of choice for the growing middle class population of India."
MakeMyTrip will host a conference call to discuss the company's results for the quarter ended December 31, 2010 beginning at 8:30 p.m. EST on February 9, 2011. To participate, please dial 1-866-242-1388 from within the U.S. or +61-2-8823-6760 from any other country. Thereafter, callers will be prompted to enter the participant passcode 39693355. A live webcast of the conference call will also be available through the Investor Relations section of the company's website at
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 39693355. A one month replay of the live webcast will also be available at
, 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.
The company believes that Adjusted operating profit and Adjusted net income are useful in measuring the results of the company. The IFRS measures most directly comparable to Adjusted operating profit and Adjusted net income are Results from operating activities and Income (Loss) for the period, respectively. The company believes that adjustments to these IFRS measures, (including employee stock compensation costs, interest accretion on preference stock, one-time expenses such as IPO listing fees and gain or loss in fair market value of the embedded options within preference stock), provide investors and analysts a more accurate representation of the company's operating results.