MakeMyTrip announced its unaudited financial and operating results for its fiscal third quarter ended December 31, 2019.
* Gross Bookings increased 18.8% YoY in 3Q20 to $1.7 billion.
* Revenue for 3Q20 increased 15.9% YoY to $146.9 million.
* Results from Operating Activities improved to a loss of $24.4 million in 3Q20 versus a loss of $36.6 million in 3Q19.
The Indian OTA giant also announced changes in the role and designation of its key executive officers:
* Deep Kalra, MakeMyTrip’s founder, will devote his full time to pursuing strategic initiatives in his new role as Group Executive Chairman.
* Rajesh Magow, MakeMyTrip’s co-founder and CEO-India has been elevated to the role of Group CEO.
MakeMyTrip believes that separating the roles of Group CEO and Executive Chairman will allow the company to strengthen its focus on long-term strategic opportunities within and outside India.
Read original report
