MakeMyTrip Q2 Revenues Grow Amidst Executive Shake-Up in India
MakeMyTrip is growing on the back of a booming travel and e-commerce market in India, but its stock remains significantly lower than the $39 per share available after the company’s NASDAQ debut.
Excerpt from Tech in Asia
Indian online travel booking site MakeMyTrip has wheeled out its latest quarterly financials. The data (called Q1 2014 in the financials, but it’s Q2 2013 for normal people) shows that mounting costs caused the company, India’s leading travel e-tailer, to book $9 million in losses on the back of $77.2 million in revenues. That’s grown from a net loss of $0.8 million a year ago.
While revenues were up 22.9 percent year-on-year, the more important figure of ‘revenue less service costs’ was a mere $26 million in that quarter. At least that was up 11.2 percent from the previous year.