MakeMyTrip Posts Narrower Loss In Q3; Adj. Revenue Up 31.4% - Quick Facts

(RTTNews) - MakeMyTrip Limited (MMYT), India's leading online travel company, reported a third-quarter adjusted loss per share of $0.14 compared to a loss per share of $0.30, a year ago. Adjusted operating loss was at $22.2 million compared to a loss of $33.9 million, an improvement of $11.7 million from previous year.

Third-quarter total adjusted revenue increased by 18.8% (31.4% in constant currency) to $179.9 million from $151.4 million, last year, primarily as a result of a 19.3% (32.2% in constant currency) increase in adjusted revenue - air ticketing, a 13.8% (26.0% in constant currency) increase in adjusted revenue - hotels and packages, a 30.1% (43.4% in constant currency) increase in adjusted revenue - bus ticketing and a 70.7% (86.9% in constant currency) increase in adjusted revenue - others. Gross bookings increased 31.9% year-over-year to $1.4 billion.

As at December 31, 2018, the balance of cash and cash equivalents and term deposits on the company's balance sheet was $300.9 million.

MakeMyTrip's board has approved an amendment to the company's 2010 Share Incentive Plan to increase the shares available under the Plan. Effective January 24, 2019, the aggregate number of MakeMyTrip shares available for issuance pursuant to awards under the Plan will increase by 1,529,724 shares.