Quarterly Gross Bookings growth at 126.3% YoY |$15.1 Million Adjusted Operating Profit
National, November 1, 2022 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2022 as attached herewith and
National, November 1, 2022 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2022 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.
Business & Financial Highlights | Q2 FY2023
|Q2 FY23 ($ Million)||Q2 FY22 ($ Million)||YoY Change (Constant Currency)|
|Revenue as per IFRS||131.3||67.5||111.4%|
|Hotels and Packages||57.4||35.5||74.7%|
|Results from Operating Activities||3.9||(8.0)|
|Adjusted Operating Profit (Loss) (also known as Adjusted EBIT)||15.1||6.6|
- Q2 FY23 Gross Bookings grew by 126.3% YoY to approximately $1.5 billion. Improving domestic travel demand helped us achieve strong growth even in a seasonally weak quarter.
- While the overall recovery in business travel has been muted compared to leisure travel, we continue to see significant growth in our corporate travel business compared to pre-pandemic levels.
- Adjusted Operating Profit of $15.1 million in Q2 FY23, as compared to $6.6 million in Q2 FY22, which continues to be robust on the back of our strong operating leverage. ,
“Travel continues to rebound on the back of waning COVID-19 infections and positive consumer sentiment. We witnessed strong performance both in terms of revenue and profitability in a seasonally weak quarter. As a leading travel service provider, we continue to garner a major share of travel demand on the back of our robust multi-product platform and customer-first approach.”Rajesh Magow, Group Chief Executive Officer, MakeMyTrip,