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MMT full year gross bookings grow by 122% YoY to $6.6 Billion

MMT full year gross bookings grow by 122% YoY to $6.6 Billion

Kanchan Nath

- May 17, 2023

MakeMyTrip Limited, announced its unaudited financial and operating results for its fiscal fourth quarter and full year ended  March 31, 2023.

Business & Financial Highlights | Q4 FY2023 & Full Year FY2023

Q4 FY23

($ Million)

Q4 FY22

($ Million)

YoY

Change

(Constant

Currency)

FY23

($ Million)

FY22

($ Million)

YoY

Change

(Constant

Currency)

Gross Bookings 1,673.9 1,012.3 80.7% 6,566.2 3,188.9 122.0%
Revenue as per IFRS 148.5 88.6 82.9% 593.0 303.9 110.3%
Adjusted Margin
 Air Ticketing 74.3 44.8 81.0% 280.1 155.5 94.2%
 Hotels and Packages 63.5 42.3 64.2% 259.8 144.1 94.2%
 Bus Ticketing 19.3 12.4 70.8% 77.3 38.3 117.2%
 Others 9.0 5.7 73.5% 34.1 18.6 98.6%
Results from Operating Activities 8.0 3.4 23.6 (30.4)
Adjusted Operating Profit (Loss) (also referred to as Adjusted EBIT) 19.0 12.0 70.3 23.2
Profit / (Loss) for the period 5.4 (4.1) (11.2) (45.6)

Travel demand continues to be robust despite macroeconomic headwinds and Q4 being seasonally  slower quarter. Gross Bookings for Q4 FY23 grew by 80.7% YoY in constant currency to $1.7 billion. FY23  Gross Bookings grew by 122% YoY in constant currency to $6.6 billion.

Adjusted Operating Profit was $19.0 million in Q4 FY23, as compared to $12.0 million in Q4 FY22. FY23  Adjusted Operating Profit was $70.3 million, being the highest ever in our company’s history, as  compared to $23.2 million in FY22, with YoY growth of 203.0%.

  • Profit for the period was $5.4 million in Q4 FY23, as compared to a loss of $4.1 million in Q4 FY22. Loss  for the year has reduced significantly; loss for FY23 was $11.2 million as compared to a loss of $45.6  million in FY22, being a reduction of $34.4 million.

Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, commenting on the results, said, “We witnessed robust recovery in travel demand with significant improvement in consumer sentiment  during the fiscal year ended March 31, 2023. We capitalized on this trend to deliver strong results with over  120% YoY constant currency growth in Gross Bookings. Our profitability expansion has also been significant,  as we delivered a YoY increase of over 200% in Adjusted Operating Profit for the reported fiscal year 2023.  We are glad that our strategy of investing in the right areas coupled with our initiatives to optimize certain  costs has helped us to preserve and strengthen our moat. We remain well positioned for the next fiscal year  with a strong pipeline of product innovation to further enhance customer experience.”

 

May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

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…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign.

We can also organise a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

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MMT full year gross bookings grow by 122% YoY to $6.6 Billion

Kanchan Nath

- May 17, 2023

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May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

content studio box

…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign.

We can also organise a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats