|
|
Exhibit 99.1
EARNINGS PRESS RELEASE
MMT delivers highest ever annual Gross Bookings and Adjusted Operating Profit1 backed by robust travel demand
Full Year Gross Bookings grow by 122% YoY2 to $6.6 Billion | Adjusted Operating Profit1 at $70.3 Million, growth of 203% YoY
National, May 16, 2023 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal fourth quarter and full year ended March 31, 2023 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.
Business & Financial Highlights | Q4 FY2023 & Full Year FY2023
| Q4 FY23 ($ Million) | Q4 FY22 ($ Million) | YoY Change (Constant Currency)2 | FY23 ($ Million) | FY22 ($ Million) | YoY Change (Constant Currency)2 |
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 Margin1 |
|
|
|
|
|
|
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)1 (also referred to as Adjusted EBIT)3 | 19.0 | 12.0 |
| 70.3 | 23.2 |
|
Profit / (Loss) for the period | 5.4 | (4.1) |
| (11.2) | (45.6) |
|
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 Profit1 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."
|
|
Notes: