The following is a summary of the MakeMyTrip Limited (MMYT) Q3 2024 Earnings Call Transcript:
Financial Performance:
MakeMyTrip reported an increase of 21.7% in gross bookings, making $2.1 billion, the highest for any quarter to date.
Revenue also grew by 26.9% year on year, reaching $14.2 million from $170.5 million last year.
The company's EBITDA more than doubled, resulting in $29.4 million compared to $14.3 million last year.
Adjusted Operating Profit grew about 70% year on year reaching $33.4 million.
The Adjusted Operating Margin expanded to 1.6% of gross bookings, up from about 1.1% last year.
The company continues to display growth across all sectors, including air ticketing, hotels, and bus ticketing.
Business Progress:
MakeMyTrip acquired Savaari Car Rentals, a move they believe will drive efficiencies in supply.
The company plans to improve efficiency in their B2B platforms, which has seen significant growth.
They plan to increase their adjusted operating profit margin level to around 1.8% to 2% over the next 2 to 3 years.
A consideration from the company for the next financial year is a possible share buyback or repurchase plan which would effectively utilize their cash reserves.
MakeMyTrip remains optimistic about the future of the travel industry, expecting improvements in outbound travel over the coming quarters, provided there are no major macro events that could disrupt this growth.
They continue to focus on enhancing user experiences by adding more novel features for more personalized customer experiences.
More detailed: MakeMyTrip IR
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