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TheStreet Open House

MakeMyTrip Limited Announces Fiscal 2013 Third Quarter Results

Stocks in this article: MMYT

Financial Highlights for Fiscal 2013 Third Quarter (Year over Year (YoY) growth % are on constant currency basis (1); please see table below for YoY growth % on actual basis)

  • Gross bookings (5) for Hotels and packages increased by 67.2% yoy in 3Q13. Gross bookings for Air ticketing increased by 38.4% yoy in 3Q13.
  • Transactions for Hotels and packages improved by 68.2% yoy in 3Q13. Transactions for air ticketing grew by 15.5% yoy in 3Q13.
  • Revenue rose 24.5% yoy to $63.8 million in 3Q13 versus $53.8 million in 3Q12.
  • Revenue less service costs (2) for Hotels and packages increased by 52.4% yoy in 3Q13. Hotels and packages contribution increased to 34.7% in 3Q13 versus 22.6% in 3Q12.

GURGAON, India and NEW YORK, Feb. 7, 2013 (GLOBE NEWSWIRE) --

MakeMyTrip Limited (Nasdaq:MMYT), India's leading online travel company, today announced its unaudited financial and operating results for its third fiscal quarter ended December 31, 2012.

"MakeMyTrip has gained significant market share in both the air ticketing and hotels and packages business during this past high season quarter." said Deep Kalra, Chairman and CEO. "We continue to lead the Indian OTA market in offering customers comprehensive set of travel products, including the broadest choice of online domestic and international hotels, while constantly improving their overall experience with MakeMyTrip."

(in thousands except EPS) 3 months Ended December 31, 2011 3 months Ended December 31, 2012 YoY Change YoY Change in Constant Currency (1)
Financial Summary as per IFRS        
Revenue  $ 53,806.9  $ 63,830.0 18.6% 24.5%
Revenue Less Service Costs (2)  $ 23,654.7  $ 22,353.7 -5.5% -0.4%
Air Ticketing  $ 17,367.4  $ 13,538.9 -22.0% -17.2%
Hotels & packages  $ 5,340.4  $ 7,848.5 47.0% 52.4%
Other  $ 947.0  $ 966.3 2.0% 6.9%
Results from Operating Activities   $ 1,282.9  $ (6,148.3)    
Adjusted Operating Profit (Loss) (3)  $ 4,316.4  $ (2,226.5)    
Income (Loss) for the Period  $ 41.5  $ (5,235.9)    
Adjusted Net Income (Loss) (4)  $ 3,126.1  $ (2,552.6)    
Diluted Earnings (Loss) per Share  $ 0.001  $ (0.14)    
Adjusted Diluted Earnings (Loss) per Share (4)  $ 0.08  $ (0.07)    
         
Operating Metrics        
Gross Bookings (5)  $ 237,333.6  $ 324,424.1 36.7% 43.7%
Air Ticketing  $ 193,323.6  $ 253,514.0 31.1% 38.4%
Hotels & packages  $ 44,010.0  $ 70,910.1 61.1% 67.2%
Number of Transactions        
Air Ticketing 882.4 1019.5 15.5%  
Hotels & packages 110.9 186.5 68.2%  

(1) Constant currency refers to our financial results assuming constant foreign exchange rates for the current fiscal period based on the reporting for the historical average rate used in the prior year's comparable fiscal period.

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