India's online travel company MakeMyTrip announced its unaudited financial and operating results for its third fiscal quarter ended December 31, 2018.
Financial Highlights for Fiscal 2019 Third Quarter
• Gross Bookings increased 31.9% YoY in 3Q19 to $1.4 billion.
• Revenue for 3Q19 was $124.8 million and Adjusted Revenue increased 31.4% YoY in 3Q19 to $179.9 million.
• Room nights for Standalone Hotels Online increased 27.1% YoY in 3Q19 versus 21.8% in 2Q19.
• Air Ticketing – flight segments increased by 19.4% YoY in 3Q19.
• Bus Ticketing – travelled tickets increased by 58.3% YoY in 3Q19.
• Results from Operating Activities was a loss of $36.6 million in 3Q19 versus a loss of $48.2 million in 3Q18.
• Adjusted Operating Loss at $22.2 million in 3Q19 versus a loss of $33.9 million in 3Q18, an improvement of $11.7 million YoY.
Financial Results
Revenue. The company generated revenue of $124.8 million in the quarter ended December 31, 2018. The revenue for the quarter ended December 31, 2017 stood at $172.5 million.
Air Ticketing. Revenue from air ticketing business was $43.5 million in the quarter ended December 31, 2018. Revenue from air ticketing business in the quarter ended December 31, 2017 was $40.5 million.
Hotels and Packages. Revenue from hotels and packages business was $58.2 million in the quarter ended December 31, 2018. Revenue from hotels and packages business in the quarter ended December 31, 2017 was $113.7 million.
Bus Ticketing. Revenue from bus ticketing business was $14.7 million in the quarter ended December 31, 2018. Revenue from bus ticketing business in the quarter ended December 31, 2017 was $13.2 million.
Other Revenue. Other revenue in the quarter ended December 31, 2018 was $8.4 million. Other revenue in the quarter ended December 31, 2017 was $5.0 million.
Loss for the period. As a result of the foregoing factors, loss for the quarter ended December 31, 2018 was $29.3 million as compared to a loss of $45.3 million in the quarter ended December 31, 2017.
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