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MakeMyTrip net profit grows by 132% to $1.8 million during 3Q 2010-11

Online travel company MakeMyTrip has reported a growth of 132 per cent in its net profit at $1.77 million for the third quarter ended December 31, 2010, as compared to a net profit of $763,100 [$0.76 million] posted for the corresponding quarter of the previous fiscal year. Total revenues increased by 56.7 per cent to $35.79 million during December 2010 ended quarter from $22.84 million posted for the third quarter of the previous fiscal year.

Online travel company MakeMyTrip has reported a growth of 132 per cent in its net profit at $1.77 million for the third quarter ended December 31, 2010, as compared to a net profit of $763,100 [$0.76 million] posted for the corresponding quarter of the previous fiscal year. Total revenues increased by 56.7 per cent to $35.79 million during December 2010 ended quarter from $22.84 million posted for the third quarter of the previous fiscal year.

According to MakeMyTrip, its gross bookings for air ticketing and hotels and packages combined increased by $87.2 million to $210.6 million during the third quarter of the current fiscal year, representing a growth of 70.7 per cent year over year. The number of transactions for air ticketing and hotels and packages combined increased by 58.6 per cent year over year.

“Our strong financial performance reflects the robust growth in air and holiday travel during the seasonally strong quarter,” Deep Kalra, chairman and CEO, MakeMyTrip, has said. “MakeMyTrip was able to deliver value to our customers as they utilized our website and services to plan and book winter holiday journeys for Diwali, Christmas and the New Year.”

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