MakeMyTrip announced a YoY increase of 416.2% in revenue for the quarter ended June 30, 2021, but the impact of the global COVID-19 pandemic remains significant.
Revenue was $32.8 million for 1Q22, an increase of 416.2% on a year-on-year basis, but was only 23.2% of 2019 level.
Air Ticketing Revenue improved to $14.7 million in 1Q22 versus $3.8 million in 1Q21.
Hotels and Packages Revenue improved to $11.4 million in 1Q22 versus $1.1 million in 1Q21.
Bus Ticketing Revenue improved to $4.2 million in 1Q22 versus $0.3 million in 1Q21.
Other Revenue improved to $2.5 million in 1Q22 versus $1.1 million in 1Q21.
Gross Bookings in 1Q22 reached $286.7 million versus $64.5 million in 1Q21, reflecting an increase of 344.5%.
“MakeMyTrip continued to show resilience in navigating its way through the highly challenging environment impacted by the second wave of COVID-19 that hit India during this reported quarter. It remains well positioned to be stronger following the pandemic with its more efficient cost structure, strong balance sheet and long term investments.” said Deep Kalra, Group Executive Chairman.
