MakeMyTrip Limited Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013; Provides Earnings Guidance for the Full Year of Fiscal 2014
January 30, 2014 at 01:32 pm
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MakeMyTrip Limited announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported total revenues of $69,965,087 compared with $63,829,963 for the same period a year ago. Loss from operating activities was $1,176,112 compared with $6,148,254 for the same period a year ago. Loss before tax was $1,591,835 compared with $6,609,409 for the same period a year ago. Loss attributable to owners of the company was $1,633,438 or $0.04 per basic and diluted share compared with $5,218,716 or $0.14 per basic and diluted share for the same period a year ago.
For the nine months, the company reported total revenues of $194,523,653 compared with $173,632,978 for the same period a year ago. Loss from operating activities was $12,507,296 compared with $9,369,234 for the same period a year ago. Loss before tax was $18,167,566 compared with $9,281,076 for the same period a year ago. Loss attributable to owners of the company was $18,227,280 or $0.48 per basic and diluted share compared with $7,185,465 or $0.19 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $9,322,570 compared with net cash from operating activities of $3,113,724 for the same period a year ago.
The company provided earnings guidance for the full year of fiscal 2014. The company remains watchful of the persistent volatility in the rupee to dollar exchange rate and an unpredictable domestic airfare environment in the coming quarters. However, the achieved results in the third quarter of fiscal year 2014 gives confidence to improve annual constant currency growth guidance to 24%-25% for revenue less service costs, which is $99 million to $100 million for the full fiscal year, at an estimated exchange rate of INR 60.39 per dollar.
MakeMyTrip Limited is an online travel provider. The Company's segments include Air Ticketing, Hotels and Packages and Bus Ticketing. The Air ticketing segment provides the facility to book domestic and international air tickets through Internet-based platforms. The Hotels and packages segment provides holiday packages and hotel reservations through Internet-based platforms, call centers, and franchise stores. The Bus ticketing segment provides the facility to book domestic and international bus tickets through Internet-based platforms. Through its primary websites, such as www.makemytrip.com, www.goibibo.com, and www.redbus.in, and mobile platforms, travelers can research, plan and book a range of travel services and products in India, as well as overseas. The Company's services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements. It also provides an inter-city car rental service.
MakeMyTrip Limited Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013; Provides Earnings Guidance for the Full Year of Fiscal 2014