India’s leading online travel company MakeMyTrip Limited today announced its unaudited financial and operating results for its first fiscal quarter ended June 30, 2017.
Flight segments for Air ticketing business increased by 65.7% YoY in 1Q18.
Revenue increased 54.6% YoY in 1Q18 to USD 192.1 million.
“Our strong operating performance in the quarter reflected MakeMyTrip’s strategy of pursuing high growth and share gains and optimization of operating costs.” said Deep Kalra, Group Chairman and Group CEO. “With our portfolio of brands and increased pace of product and technology innovations, we are able to deliver a superior experience, offer a greater value proposition and achieve higher loyalty from our customers as we continue to shift the largely offline hotels market online.”
Fiscal 2018 First Quarter Financial Results
Revenue. We generated revenue of USD 192.1 million in the quarter ended June 30, 2017, an increase of 58.4% (an increase of 54.6% in constant currency) over revenue of USD 121.2 million in the quarter ended June 30, 2016.
Air Ticketing. Revenue from our air ticketing business increased by 73.1% (68.2% in constant currency) to USD 41.3 million in the quarter ended June 30, 2017 from USD 23.9 million in the quarter ended June 30, 2016. This increase was due to an increase in gross bookings of 76.0% (71.4% in constant currency) driven by 65.7% increase in the number of air ticketing flight segments year over year including the impact of consolidation of the ibibo Group acquired on January 31, 2017.
Hotels and Packages. Revenue from our hotels and packages business increased by 40.8% (37.3% in constant currency) to USD 134.6 million in the quarter ended June 30, 2017, from USD 95.6 million in the quarter ended June 30, 2016. Gross bookings increased by 90.3% (86.2% in constant currency) driven by 147.3% increase in the number of hotels room nights year over year including the impact of consolidation of the ibibo Group acquired in January 31, 2017.
Other Revenue. Our other revenue increased to USD16.2 million in the quarter ended June 30, 2017 from USD 1.8 million in the quarter ended June 30, 2016. This was primarily due to bus ticketing revenue less service costs of USD 11.2 million in the quarter ended June 30, 2017 mainly contributed by ibibo Group consolidation coming from 10.8 million travelled bus tickets with gross bookings of USD 140.2 million. The increase in other revenue was further aided by growth in facilitation fees on travel insurance.
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