The following is a summary of the MakeMyTrip Limited (MMYT) Q4 2024 Earnings Call Transcript:
Financial Performance:
MakeMyTrip reported an all-time high gross booking value of $8 billion and a record adjusted operating profit of $124 million in fiscal year 2024, compared to $70 million in fiscal year 2023.
Revenue for the fiscal year increased by 35.7% YoY to $782 million.
Q4 gross booking value increased by 23% YoY to over $2 billion.
Net profit for the fiscal year was $216.7 million, compared to a loss in fiscal 2023.
Adjusted operating profit for Q4 rose by over 70% YoY, reaching $32.4 million.
Excluding certain one-off items, adjusted operating profit grew by 76.7% YoY to $124.2 million.
The company reported a share-based compensation of $36.9 million and mentioned positive cash surpluses for potential buybacks.
Business Progress:
Achieved record milestones such as a 97% growth in searches for spiritual destinations.
Contribution from international air ticketing business grew by about 50% and now accounts for about 1/3 of the air ticketing segment.
MoUs signed with the state governments of Goa and Madhya Pradesh to foster sustainable tourism development.
Launched a Visa guarantee initiative and integrated AI within the accommodation business for condensed customer reviews.
Launched RedBus services in Vietnam and Cambodia and expanded hotel products on the IRCTC website to attract users from smaller cities.
Digital bus services grew by over 26% and investments in various segments yielded results, diversifying revenue inflows.
The company is expected to maintain or improve current market shares and has potential plans for organic and inorganic growth.
More details: MakeMyTrip IR
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