MakeMyTrip Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Announces Resignation of Yuvraj Thacoor as Independent Director, Effective May 7, 2018
February 08, 2018 at 12:32 pm
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MakeMyTrip Limited reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, total revenue was $172,477,000 against $123,248,000 a year ago. Loss from operating activities was $48,168,000 against $3,145,000 a year ago. Loss before tax was $45,432,000 against profit of $16,608,000 a year ago. Loss attributable to owners of the company was $45,115,000 against profit of $16,556,000 a year ago. Loss per basic and diluted share was $0.45 against earnings of $0.31 per diluted share a year ago. Adjusted operating loss was $33,911,000 against profit of $1,322,000 a year ago. Adjusted net loss was $30,476,000 against $5,894,000 a year ago. Adjusted loss diluted per share was $0.30 against $0.12 a year ago.
For nine months, total revenue was $517,450,000 against $327,583,000 a year ago. Loss from operating activities was $177,747,000 against $60,071,000 a year ago. Loss before tax was $176,118,000 against $37,026,000 a year ago. Loss attributable to owners of the company was $175,336,000 against $37,205,000 a year ago. Loss per basic and diluted share was $1.75 against $0.84 a year ago. Net cash used in operating activities was $102,073,000 against $46,086,000 a year ago. Adjusted operating loss was $131,260,000 against $47,933,000 a year ago. Adjusted net loss was $127,758,000 against $57,878,000 a year ago. Adjusted loss diluted per share was $1.28 against $1.31 a year ago.
Yuvraj (Raj) Thacoor, an independent director of MakeMyTrip for the purposes of the Nasdaq Stock Market, Marketplace Rules and a nominee of MIH Internet SEA Pte. Ltd., notified the Board of Directors of MakeMyTrip of his intention to resign from the Board of Directors of MakeMyTrip, effective May 7, 2018. On February 7, 2018, the Board of Directors accepted and approved the resignation of Mr. Thacoor. Following the resignation of Mr. Thacoor, MIH Internet expects to nominate a replacement director to the Board of Directors of MakeMyTrip, in accordance with the Terms of Issue of the Class B Shares.
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 Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017; Announces Resignation of Yuvraj Thacoor as Independent Director, Effective May 7, 2018