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MakeMyTrip Q4 net income soars to $2.95 million
MakeMyTrip Q4 net income soars to $2.95 million
By: iMedia News Bureau

Online travel portal MakeMyTrip’s revenue for the fourth quarter ended March 31, 2012 and grew 49.6 per cent to $47 million over the year ago period, reflecting strong growth in demand for online ticketing. Yearly revenue grew 65.5 per cent YoY to $196.6 million for FY12.

Commenting on the increased revenue, Deep Kalra, MakeMyTrip Chairman and CEO said, “MakeMyTrip delivered strong financial results in the fourth fiscal quarter and full year despite a challenging operating environment”.  He further added, “In the coming year we will continue to further our market leadership position through our core strength of enhancing the customers' experience."

MMT’s revenue less service costs increased 44 per cent YoY to $22.1 million in fourth quarter and increased 51.7 per cent YoY to $88.2 million for financial year ended March 31, 2012.

MMT has also launched some new initiatives to acquire more customers. First of all the online travel portal has introduced the MakeMyTrip app for android and BlackBerry phone users and witnessed 40,000 downloads till date. Soon, the company will launch it on the iOS platform.

Secondly, it has further launched Tripalong, a social application for travellers which can be integrated with users’ social networks to map their travel itineraries – so that they can connect with friends while on the move.

MakeMyTrip’s Air Ticketing revenue increased by 50.8 per cent to $20.9 million in the quarter ended March 31, 2012 from $13.9 million in the quarter ended March 31, 2011. Revenue from hotels and packages business increased by 48.2 per cent to $25.0 million in the quarter ended March 31, 2012 from $16.8 million in the quarter ended March 31, 2011.  Other revenue increased to $1.1 million in the quarter ended March 31, 2012 from $0.7 million in the quarter ended March 31, 2011, primarily due to increased sale of rail tickets and bus tickets and advertisement income.