2 weeks Ago By Sharveya Parasnis
Explainer Briefly Slides MakeMyTrip recorded a profit of $17.94 million in the second quarter of financial year 2024-25 (Q2FY25), with a revenue of $210.99 million.
This is an increase of 797% in profit when compared to the same quarter of the previous year and an increase of 25.1% in revenue in the same period. The company’s air ticketing business drew a revenue of $61.
02 million, which is an increase of 25.6% Year over Year (YoY). Gross bookings increased by 18.
8% YoY, along with a 15.9% increase in the number of air ticketing flight segments. The hotels and packages business increased its revenue by 15.
5% to $103.2 million from $89.4 in 2023.
The segment saw growth in gross bookings by 19.6% YoY and 17.5% increase in the number of hotel nights booked YoY.
The bus ticketing business went to earning $24.8 million this year from $19.8 million last year, marking a 25.
4% growth rate YoY. There was an increase in gross bookings by 19.9% and a 21.
4% increase in the number of bus tickets travelled YoY. MakeMyTrip’s “other” businesses increased their revenue by 100.8% to $22 million this quarter, from $10.
9 million in the quarter ended September 30, 2023. Expenses Service costs increased by 23.6% to $49.
8 million this quarter from $40.3 million in the same quarter last year. There was also an increase of $5.
9 million in service costs for the car booking business. MakeMyTrip increased its personnel expenses by 12.5% YoY to $39.
4 million, mostly due to annual wages. Expenses on marketing and sales promotion also increased by 43.0% to $35.
8 million, attributed to “an increase in variable costs and discretionary expenditures such as expenses on events and brand building initiatives.” The company also spent $69 million on customer incentives, which were recorded as a reduction in revenue. “Other” operating expenses decreased by 3.
2% to $53.4 million, which the company attributed to a $10 million impairment provision against amounts recoverable from Go Airlines. Operating Metrics MakeMyTrip sold 15.
1 million tickets for flight segments, 8.5 million hotel room nights as part of packages, 7 million hotel room nights as standalone, and 19.4 million bus tickets.
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