Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has MakeMyTrip (MMYT) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.MakeMyTrip is one of 619 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zac ...

The market expects MakeMyTrip (MMYT) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released o ...

triloks/E+ via Getty Images Elevator Pitch I rate MakeMyTrip Limited (NASDAQ:MMYT) as a Buy. The long-term top-line growth prospects for MMYT are positive, and the company is well-positioned for margin expansion with multiple profitability improvement levers. Company Description MakeMyTrip calls itself a "travel service provider in India" that owns "well-recognized travel brands" in the company's announcements. MMYT's Key Statistics At A Glance MakeMyTrip's Investor Presentation Slides An Overview Of MakeMy ...

Financial Data and Key Metrics Changes - The company reported gross bookings for the quarter at $2.5 billion, reflecting a year-on-year growth of 21.7% in constant currency terms [20] - Adjusted operating profit grew by 70% year-on-year to $33.4 million compared to $19.7 million in the same quarter last year [24] - EBITDA more than doubled to $29.4 million from $14.3 million during the same quarter last year [24] Business Line Data and Key Metrics Changes - The international air ticketing business has fully recovered and is growing above pre-pandemic levels, with gross bookings reaching $1.3 billion, a year-on-year growth of 19.8% [21][57] - The accommodation business, including hotels and packages, saw strong growth, with over 63,000 unique domestic hotels sold across 1,760 cities [54] - The bus ticketing business reported gross bookings of $269.8 million, growing at 20.3% year-on-year in constant currency [128] Market Data and Key Metrics Changes - Domestic aviation traffic is expected to double by 2030, with significant investments in travel infrastructure, including $11 billion in airport modernization [20] - India is projected to become the fifth largest outbound market by 2027, with outbound travel recovering to pre-pandemic levels [52][53] Company Strategy and Development Direction - The company aims to enhance its platform by adding more products and use cases, focusing on personalization for corporate travelers [2] - There is a strong emphasis on improving customer experience and leveraging technology to drive efficiencies and growth in both B2B and B2C segments [115][119] - The company is committed to maintaining a competitive edge through continuous innovation and enhancing customer journeys [101][142] Management's Comments on Operating Environment and Future Outlook - Management noted a positive outlook driven by increased consumer travel frequency and infrastructure improvements [35][137] - The company is optimistic about the growth potential in the outbound travel segment, driven by rising disposable incomes and improved connectivity [42][74] - There is a recognition of healthy competition in the market, with a focus on profitability rather than aggressive market capture [47][120] Other Important Information - The company has a strong cash position of approximately $608 million, allowing for potential buybacks and investments [117][81] - The integration of new features, such as multi-room booking and enhanced personalization, is expected to drive customer engagement [123][72] Q&A Session Summary Question: What specific benefits did the hotels and packages business experience this quarter? - Management indicated that demand across all segments increased, with the Cricket World Cup contributing to heightened travel appetite [27][28] Question: How is the international outbound travel segment performing? - The company reported strong growth in holiday packages, particularly in the outbound segment, with significant contributions from B2B channels [31][32] Question: What is the outlook for competition in the travel market? - Management believes that competition remains healthy, with a focus on profitability rather than aggressive tactics [47][120] Question: How does the company view the operating leverage in the business? - The company aims to maintain growth while managing costs effectively, with expectations of improved margins over the next few years [48][95] Question: What are the plans for cash utilization moving forward? - The company is considering buybacks as a viable option, given its strong cash reserves and limited M&A opportunities [81][96]

Exhibit 99.1 MAKEMYTRIP LIMITED ANNOUNCES FISCAL 2024 THIRD QUARTER RESULTS Gurugram, India and New York, January 23, 2024 — MakeMyTrip Limited (NASDAQ: MMYT), India's leading travel service provider, today announced its unaudited interim financial and operating results for its fiscal third quarter ended December 31, 2023. | | | | | | | YoY | | | | | YoY | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | For the three | | For the three | | Change | For the nine | | For the nin ...

(1) Constant currency refers to our financial results assuming constant foreign exchange rates for the current fiscal period based on the rates in effect during the comparable fiscal period in the prior fiscal year. This is a non-IFRS measure. For more information, see "About Key Performance Indicators and Non-IFRS Measures" elsewhere in this release. IFRS refers to International Financial Reporting Standards as issued by the International Accounting Standards Board (IASB). Reconciliations of IFRS measures ...

MAKEMYTRIP LIMITED ANNOUNCES FISCAL 2024 FIRST QUARTER RESULTS | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|-------|--------------------------------------------|-------|--------------------------------------------|------------|-------------------------------------| | (in thousands) \nFinancial Summary as per IFRS | | For the three months ended June 30, 2022 | | For the three months ended June 30, 2023 | YoY Change | YoY Change in constant currency (1) | | Rev ...

MAKEMYTRIP LIMITED ANNOUNCES FISCAL 2024 FIRST QUARTER RESULTS Gurugram, India and New York, August 1, 2023 — MakeMyTrip Limited (NASDAQ: MMYT), India's leading travel service provider, today announced its unaudited interim financial and operating results for its fiscal first quarter ended June 30, 2023. | | | For the three months | | For the three months | | YoY Change | | --- | --- | --- | --- | --- | --- | --- | | | | ended June | | ended June | YoY | in constant | | (in thousands) | | 30, 2022 | | 30, 2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12 (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...

[Performance Overview](index=1&type=section&id=Performance%20Overview) The company achieved robust financial growth in fiscal year 2023, driven by a strong recovery in travel demand and strategic operational improvements [Management Commentary](index=1&type=section&id=Management%20Commentary) The Group CEO reported strong FY2023 financial results, driven by robust travel demand recovery and strategic cost optimization - Gross Bookings saw a year-over-year (YoY) constant currency growth of over **120%** in fiscal year 2023[6](index=6&type=chunk) - Adjusted Operating Profit for fiscal year 2023 increased by over **200% YoY**, demonstrating significant profitability expansion[6](index=6&type=chunk) - The company's strategy focused on targeted investments and cost optimization, which helped strengthen its market position[6](index=6&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) FY2023 financial highlights include substantial growth in gross bookings and revenue, with Adjusted Operating Profit reaching $70.3 million Full Year Fiscal 2023 vs 2022 Financial Summary | Financial Metric | FY 2022 ($) | FY 2023 ($) | YoY Change | YoY Change (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Gross Bookings | $3,188.9M | $6,566.2M | +105.9% | +122.0% | | Revenue | $303.9M | $593.0M | +95.1% | +110.3% | | Results from Operating Activities | ($30.4M) | $23.6M | - | - | | Profit (Loss) for the period | ($45.6M) | ($11.2M) | - | - | | Adjusted Operating Profit | $23.2M | $70.3M | +203.3% | - | | Adjusted Net Profit | $21.7M | $52.9M | +144.0% | - | Q4 Fiscal 2023 vs 2022 Financial Summary | Financial Metric | Q4 2022 ($) | Q4 2023 ($) | YoY Change | YoY Change (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Gross Bookings | $1,012.3M | $1,673.9M | +65.4% | +80.7% | | Revenue | $88.6M | $148.5M | +67.7% | +82.9% | | Results from Operating Activities | $3.4M | $8.0M | +135.3% | - | | Profit (Loss) for the period | ($4.1M) | $5.4M | - | - | | Adjusted Operating Profit | $12.0M | $19.0M | +58.3% | - | [Impact of the COVID-19 Pandemic](index=2&type=section&id=Impact%20of%20the%20COVID-19%20Pandemic) Fiscal year 2023 saw significant travel demand recovery, improving results across all segments, despite lingering uncertainties - Fiscal year 2023 experienced significant growth in travel demand due to high pent-up demand and improved consumer sentiment as the impact of the pandemic diminished[9](index=9&type=chunk) - The recovery in FY2023, coupled with cost optimization efforts, led to improved results across all operating segments compared to FY2022[9](index=9&type=chunk) - The long-term effects of the pandemic on the business remain uncertain and depend on factors like the severity of new variants and their impact on travel and consumer spending[10](index=10&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) The company achieved a significant financial turnaround in FY2023, marked by substantial revenue growth, improved profitability, and robust liquidity [Q4 FY2023 Performance](index=2&type=section&id=Fiscal%202023%20Fourth%20Quarter%20Financial%20Results) Q4 FY2023 revenue grew to $148.5 million, turning a net loss into a $5.4 million profit, driven by strong segment recovery [Revenue and Segment Performance](index=2&type=section&id=Q4%20Revenue%20and%20Segment%20Performance) Q4 FY2023 revenue increased by 67.7% to $148.5 million, driven by strong recovery across all segments, notably Hotels and Packages - Total revenue for Q4 FY2023 increased by **67.7% YoY** (**82.9% in constant currency**) to **$148.5 million**, primarily due to strong recovery in travel demand[11](index=11&type=chunk) Q4 FY2023 Segment Performance (YoY Growth, Constant Currency) | Segment | Revenue Growth (%) | Adjusted Margin Growth (%) | | :--- | :--- | :--- | | Air Ticketing | +67.6% | +81.0% | | Hotels and Packages | +98.1% | +64.2% | | Bus Ticketing | +63.3% | +70.8% | | Others | +72.3% | +73.5% | - The Hotels and Packages segment's Adjusted Margin % decreased to **16.3%** from **17.7% YoY**, mainly due to a higher proportion of lower-margin packages and international hotel bookings[16](index=16&type=chunk) [Operating Expenses](index=4&type=section&id=Q4%20Operating%20Expenses) Q4 FY2023 operating expenses increased across personnel, marketing, and other categories, reflecting higher variable costs and strategic investments - Personnel expenses rose **11.3% YoY** to **$33.7 million** due to annual wage increases[19](index=19&type=chunk) - Marketing and sales promotion expenses increased by **92.4% YoY** to **$23.2 million**, driven by higher variable costs and discretionary spending on brand initiatives in response to travel recovery[20](index=20&type=chunk) - Other operating expenses grew **79.1% YoY** to **$34.1 million**, primarily due to increased booking-related costs like payment gateway charges and a one-time reversal of a provision in the prior-year quarter[21](index=21&type=chunk) [Profitability and Earnings](index=5&type=section&id=Q4%20Profitability%20and%20Earnings) Q4 FY2023 profitability improved significantly, with operating profit increasing and a turnaround to net profit, alongside reduced net finance costs Q4 FY2023 Profitability Metrics | Metric | Q4 2022 ($) | Q4 2023 ($) | | :--- | :--- | :--- | | Results from Operating Activities | $3.4M | $8.0M | | Adjusted Operating Profit | $12.0M | $19.0M | | Profit (Loss) for the Period | ($4.1M) | $5.4M | | Adjusted Net Profit | $8.7M | $23.1M | | Diluted EPS | ($0.04) | $0.05 | | Adjusted Diluted EPS | $0.08 | $0.21 | - Net finance costs decreased to **$2.6 million** from **$6.9 million YoY**, mainly due to a lower net foreign exchange loss[24](index=24&type=chunk) [Full Year FY2023 Performance](index=5&type=section&id=Fiscal%202023%20Full%20Year%20Financial%20Results) FY2023 saw revenue nearly double to $593.0 million, transforming an operating loss into a $23.6 million profit, with net loss significantly narrowing [Revenue and Segment Performance](index=5&type=section&id=FY2023%20Revenue%20and%20Segment%20Performance) FY2023 total revenue increased by 95.1% to $593.0 million, driven by strong recovery across all segments, particularly Hotels and Packages - Total revenue for FY2023 increased by **95.1% YoY** (**110.3% in constant currency**) to **$593.0 million**, driven by the diminishing impact of the COVID-19 pandemic[27](index=27&type=chunk) FY2023 Segment Performance (YoY Growth, Constant Currency) | Segment | Revenue Growth (%) | Adjusted Margin Growth (%) | | :--- | :--- | :--- | | Air Ticketing | +79.6% | +94.2% | | Hotels and Packages | +131.5% | +94.2% | | Bus Ticketing | +102.0% | +117.2% | | Others | +95.9% | +98.6% | - The Air Ticketing segment's Adjusted Margin % decreased to **6.8%** from **8.0% YoY**, primarily due to increased air fares without a corresponding increase in fixed revenue earned per booking[31](index=31&type=chunk) [Operating Expenses](index=7&type=section&id=FY2023%20Operating%20Expenses) FY2023 operating expenses increased across personnel, marketing, and other categories, reflecting higher variable costs and strategic investments - Personnel expenses increased **12.9% YoY** to **$132.0 million** due to annual wage increases[35](index=35&type=chunk) - Marketing and sales promotion expenses rose **99.1% YoY** to **$101.6 million**, reflecting increased variable costs and discretionary spending to capture the travel demand recovery[36](index=36&type=chunk) - Other operating expenses increased **63.9% YoY** to **$133.7 million**, mainly due to a **$46.2 million** rise in booking-related costs like payment gateway and outsourcing fees[38](index=38&type=chunk) [Profitability and Earnings](index=8&type=section&id=FY2023%20Profitability%20and%20Earnings) FY2023 profitability significantly improved, with a turnaround to operating profit and a substantial narrowing of net loss, despite increased finance costs Full Year FY2023 Profitability Metrics | Metric | FY 2022 ($) | FY 2023 ($) | | :--- | :--- | :--- | | Results from Operating Activities | ($30.4M) | $23.6M | | Adjusted Operating Profit | $23.2M | $70.3M | | Profit (Loss) for the Period | ($45.6M) | ($11.2M) | | Adjusted Net Profit | $21.7M | $52.9M | | Diluted EPS | ($0.42) | ($0.10) | | Adjusted Diluted EPS | $0.20 | $0.48 | - Net finance costs increased to **$35.8 million** from **$16.3 million YoY**, primarily due to a **$17.4 million** increase in net foreign exchange loss resulting from the depreciation of the Indian Rupee against the U.S. dollar[41](index=41&type=chunk) [Liquidity and Financial Position](index=8&type=section&id=Liquidity) As of March 31, 2023, the company maintained strong liquidity with $486.7 million in cash and $119.2 million in undrawn credit facilities - The balance of cash and cash equivalents and term deposits was **$486.7 million** as of March 31, 2023[44](index=44&type=chunk) - The company has existing credit facilities of approximately **$119.2 million**, none of which were drawn as of March 31, 2023[44](index=44&type=chunk) [Corporate Developments](index=8&type=section&id=Corporate%20Developments) This section outlines recent corporate actions, including the impact of a key airline supplier's insolvency and strategic share and note repurchase authorizations [Recent Developments (Go First Insolvency)](index=8&type=section&id=Recent%20Developments) The voluntary insolvency filing by Go First, a key airline supplier, poses a risk of reduced air ticket supply and potential impact on gross bookings - On May 2, 2023, Go Airlines (India) Limited (Go First), a top five domestic airline supplier, filed for voluntary insolvency resolution proceedings[45](index=45&type=chunk) - The disruption could reduce the supply of air tickets available on MakeMyTrip's platform, potentially impacting gross bookings, revenue, and operating results[46](index=46&type=chunk) - MakeMyTrip is extending cooperation to its customers impacted by the suspension of Go First flights[47](index=47&type=chunk) [Share and Note Repurchases](index=9&type=section&id=Repurchases%20of%20Shares%20and%20Convertible%20Notes) The Board extended the share repurchase plan and authorized repurchases of 2028 convertible notes, with a combined cap of $136.0 million - The Board of Directors extended the term of the share repurchase plan until March 31, 2026[48](index=48&type=chunk) - As of March 31, 2023, the company had remaining authority to repurchase up to **$136.0 million** of its outstanding ordinary shares[48](index=48&type=chunk) - On May 16, 2023, the Board authorized the company to also use the **$136.0 million** authority to repurchase its **0.00% convertible senior notes due 2028**[49](index=49&type=chunk) [Appendix: Financial Statements and Reconciliations](index=9&type=section&id=Appendix%3A%20Financial%20Statements%20and%20Reconciliations) This appendix provides detailed consolidated financial statements, non-IFRS reconciliations, and key operating metrics supporting the reported financial performance [Consolidated Financial Statements](index=12&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements detail the company's financial health, showing increased assets, significant revenue growth, narrowed net loss, and positive cash flow [Statement of Financial Position (Balance Sheet)](index=12&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) The Statement of Financial Position shows total assets increased to $1.36 billion, with changes in cash, intangible assets, liabilities, and equity Key Balance Sheet Items (in thousands USD) | Item | As at March 31, 2022 (USD thousands) | As at March 31, 2023 (USD thousands) | | :--- | :--- | :--- | | **Total Assets** | **$1,322,744** | **$1,359,825** | | Cash and cash equivalents | $213,283 | $284,018 | | Intangible assets and goodwill | $685,658 | $628,974 | | **Total Liabilities** | **$426,269** | **$483,769** | | **Total Equity** | **$896,475** | **$876,056** | [Statement of Profit or Loss (Income Statement)](index=13&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) The Statement of Profit or Loss highlights significant revenue growth to $593.0 million and a substantial narrowing of the net loss in FY2023 Key Income Statement Items (in thousands USD) | Item | For the year ended March 31, 2022 (USD thousands) | For the year ended March 31, 2023 (USD thousands) | | :--- | :--- | :--- | | Total Revenue | $303,922 | $593,036 | | Result from operating activities | ($30,366) | $23,604 | | Profit (loss) for the period | ($45,567) | ($11,168) | | Diluted Earnings (loss) per share | ($0.42) | ($0.10) | [Statement of Cash Flows](index=15&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) The Statement of Cash Flows indicates positive cash generation from operating activities and a shift to positive cash flow from investing activities Net Cash Flow Summary (in thousands USD) | Activity | For the year ended March 31, 2022 (USD thousands) | For the year ended March 31, 2023 (USD thousands) | | :--- | :--- | :--- | | Net cash from operating activities | $5,998 | $32,065 | | Net cash from investing activities | ($77,604) | $46,776 | | Net cash from financing activities | ($9,569) | ($6,207) | | **Increase (decrease) in cash** | **($81,175)** | **$72,634** | [Non-IFRS Reconciliations and Key Metrics](index=17&type=section&id=Non-IFRS%20Reconciliations%20and%20Key%20Metrics) This section reconciles IFRS to non-IFRS measures like Adjusted Operating Profit and presents key operating metrics, highlighting significant increases in travel bookings Reconciliation of Operating Results to Adjusted Operating Profit (FY2023, in thousands USD) | Item | Amount (USD thousands) | | :--- | :--- | | Results from operating activities (IFRS) | $23,604 | | Add: Acquisition related intangibles amortization | $12,812 | | Add: Employee share-based compensation costs | $35,643 | | Less: Gain on discontinuation of equity accounted investment | ($2,017) | | Add: Merger and acquisitions related expenses | $270 | | **Adjusted Operating Profit (Non-IFRS)** | **$70,312** | Selected Operating Metrics (Units in thousands) | Unit Metric | FY 2022 (thousands) | FY 2023 (thousands) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Air Ticketing – Flight segments | 24,704 | 43,882 | +77.6% | | Hotels and Packages – Room nights | 15,595 | 26,101 | +67.4% | | Bus Ticketing – Travelled tickets | 39,491 | 73,048 | +85.0% |