MakeMyTrip is an Indian online travel company. It was incorporated in 2000. The founder is Deepak kaira.It is located in Gurugram, Haryana in India. The products include
Booking flights, hotels, holidays, buses, trains and cars. The company has its operation worldwide. It has international offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai. In comparison to India Travel Industry, Makemytrip has travelers not only in India but across the globe. COVID vaccination is the game changer for the Travel Industry in 2021. People are thriving more for travel. (47%) of travelers surveyed globally are planning to travel internationally in 2021 out of which 45% are U.S. travelers.
Key Financial Highlights
|(Amounts in USD thousands)||Air ticketing||Hotels and package||Bus ticketing||Others|
|Revenue as per IFRS||27,369||67,248||14,673||5,733|
|Customer inducement costs recorded as a reduction of revenue||25,606||15,806||734||252|
Gross Bookings increased by 93.0% YoY and 57.4% QoQ to $1,155.7 million in 3Q22. Revenue increased by 102.5% YoY and 70.5% QoQ to $115.0 million in 3Q22.Other Revenue increased by 38.6% YoY and 34.1% QoQ to $5.7 million in 3Q22. Adjusted Margin(2) for Others increased by 42.4% YoY and 32.1% QoQ to $5.9 million in 3Q22. Results from Operating Activities was a loss of $6.2 million in 3Q22 versus a loss of $7.3 million in 3Q21 and $8.0 million in 2Q22, reflecting an improvement of $1.1 million YoY and $1.8 million QoQ.
Expects COVD-19 to subside by 2022 which holds better prospects for the entire travel and tourism industry. Expects For air ticketing business margins to remain around 6% to 7% range at least.
Due to the prevailing COVID-19, the cashflow from operation effected compared to previous months. The balance of cash and cash equivalents and term deposits on our balance sheet was $486.1 million. Cash and cash equivalents is 178,368.
Conference Call Highlights:
MakeMyTrip has partnered withmyBiz, myPartner and hosted app feature for homestay segment.
Gross bookings grew 95.1% compared to previous quarter.
MakeMytrip added 22,000-plus registered travel agents on myPartner.
Introduced insurance-driven products to make travel planning worry-free for customers on this COVID-19 situation.
MakeMyTrip has entered in a partnership with civil aviation ministry to promote regional air connectivity.
MakeMyTrip enters in partnership with IndiGo to launch charter flights to Thailand’s Phuket.
MakeMyTrip enters in partnership with AI-enabled travel booking app, Hopper.
MakeMyTrip enters in partnership with GO FIRST to launch exclusive Air Charter Holiday Services to Phuket.
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