MakeMyTrip Limited (NASDAQ:MMYT) Q3 2023 Results Conference Call January 31, 2023 7:30 AM ET Company Participants Vipul Garg - Vice President of Investor Relations Deep Kalra - Founder and Chairman Rajesh Magow - Co-Founder and Chief Executive Officer Mohit Kabra - Chief Financial Officer Conference Call Participants Sachin Salgaonkar - Bank of America Gaurav Rateria - Morgan Stanley Aditya Suresh - Macquarie Vijit Jain - Citi Aditya Chandrasekar - UBS Tarbir Shahpuri - Nidara Capital Vipul Garg Good evenin ...

Exhibit 99.1 MAKEMYTRIP LIMITED ANNOUNCES FISCAL 2023 THIRD QUARTER RESULTS Impact of the COVID-19 Pandemic The impact of the global COVID-19 pandemic has severely impacted travel demand in terms of affecting consumers' sentiment and their willingness to travel, which has caused airlines and hotels in India and around the world to operate at significantly reduced service levels throughout much of fiscal years 2021 and 2022. The COVID-19 pandemic has also resulted in significant weakness in the macroeconomic ...

MakeMyTrip Limited (NASDAQ:MMYT) Q2 2023 Earnings Conference Call November 1, 2022 7:30 AM ET Company Participants Vipul Garg - Vice President of Investor Relations Deep Kalra - Founder and Chairman Rajesh Magow - Co-Founder and Chief Executive Officer Mohit Kabra - Chief Financial Officer Conference Call Participants Aditya Chandrasekar - UBS Vijit Jain - Citi Vipul Garg Hello, everyone. I'm Vipul Garg, Vice President, Investor Relations at MakeMyTrip Limited. And welcome to our Fiscal Year 2023 Second Qua ...

Financial Performance - Gross Bookings reached $1,541.7 million in Q2 2023, a significant increase from $734.1 million in Q2 2022, representing a growth of 109.0% year-over-year[4] - Revenue for Q2 2023 was $131.2 million, up 94.5% from $67.5 million in Q2 2022, driven by strong recovery in travel demand[8] - Air Ticketing Revenue improved to $39.6 million in Q2 2023, an increase of 85.9% from $21.3 million in Q2 2022, with Adjusted Margin rising to $75.0 million[4] - Hotels and Packages Revenue increased by 103.6% to $68.2 million in Q2 2023, with Adjusted Margin improving to $57.4 million[12] - Bus Ticketing Revenue rose by 91.8% to $16.1 million in Q2 2023, with Adjusted Margin increasing to $16.9 million[13] - Other Revenue grew by 71.0% to $7.3 million in Q2 2023, with Adjusted Margin reaching $7.5 million[14] - Total revenue for the six months ended September 30, 2022, was $273.987 million, a significant increase from $100.312 million in the same period of 2021, representing a growth of 172%[47] - Consolidated revenue for the three months ended September 30, 2022, was $131.25 million, a significant increase from $67.47 million in the same period of 2021, representing a growth of 94.5%[53] - Total revenue for the six months ended September 30, 2022, was $273.98 million, a substantial increase from $100.3 million in 2021, reflecting a growth of 172.5%[53] Profitability - Operating Activities resulted in a profit of $3.9 million in Q2 2023, a turnaround from a loss of $8.0 million in Q2 2022, reflecting an improvement of $11.9 million year-over-year[4] - Adjusted Operating Profit improved to $15.1 million in Q2 2023, compared to $6.6 million in Q2 2022, marking an increase of $8.5 million[4] - The loss for the quarter ended September 30, 2022, was $6.8 million, an improvement from a loss of $8.0 million in the same quarter of 2021, with an Adjusted Net Profit of $8.0 million compared to $9.7 million[23] - Loss before tax for the three months ended September 30, 2022, was $7.17 million, an improvement from a loss of $8.59 million in the same period of 2021[53] - Adjusted operating profit for the three months ended September 30, 2022, was $15.14 million, compared to $6.56 million in 2021, marking a growth of 130.5%[55] Costs and Expenses - Customer inducement costs recorded as a reduction of revenue were $57.8 million in Q2 2023, up from $27.7 million in Q2 2022[18] - Other operating expenses increased by 77.7% to $32.5 million for the quarter ended September 30, 2022, compared to $18.3 million for the same period in 2021, driven by higher payment gateway charges, outsourcing fees, and website hosting charges due to increased bookings[19] - Marketing and sales promotion expenses for the three months ended September 30, 2022, increased to $24.75 million from $11.53 million in 2021, representing a rise of 114.5%[53] Cash and Assets - As of September 30, 2022, the balance of cash and cash equivalents and term deposits was $466.3 million, with existing credit facilities of approximately $128.2 million, of which only $0.1 million has been drawn[25] - Cash and cash equivalents increased to $274.725 million as of September 30, 2022, compared to $213.283 million at the beginning of the period[51] - Total assets as of September 30, 2022, were $1.329 billion, slightly up from $1.322 billion as of March 31, 2022[45] - Total equity attributable to owners of the company decreased to $850.941 million as of September 30, 2022, from $894.134 million as of March 31, 2022[45] - The company’s total liabilities increased to $470.342 million as of September 30, 2022, from $426.269 million as of March 31, 2022[45] Investments and Acquisitions - On September 28, 2022, the company acquired an additional equity interest in Simplotel Technologies Private Limited for an estimated cash consideration of $3.9 million, increasing its stake to 64.8%[26] Regulatory and Legal Matters - The Competition Commission of India imposed a penalty of Rs. 2,234.8 million (approximately $27.0 million) on the company's subsidiaries for anti-competitive conduct[28] - The company plans to assess the findings from the Competition Commission of India order and will seek legal counsel to determine future actions[30] Foreign Exchange and Other Income - Other income surged by 537.1% to $2.4 million in Q2 2023, primarily due to a gain on the discontinuation of an equity-accounted investment[15] - Net finance costs rose to $11.1 million for the quarter ended September 30, 2022, from $0.6 million in the same quarter of 2021, primarily due to a net foreign exchange loss of $9.6 million[22] - The company recognized a foreign currency translation loss of $(44.534) million for the six months ended September 30, 2022[47]

MakeMyTrip Limited (NASDAQ:MMYT) Q1 2023 Earnings Conference Call July 27, 2022 7:30 AM ET Company Participants Vipul Garg - VP, IR Deep Kalra - Founder & Group Executive Chairman Rajesh Magow - Co-Founder & Group CEO Mohit Kabra - Group CFO Conference Call Participants Vijit Jain - Citi Guarav Rateria - Morgan Stanley Mithun - GC Ventures Aditya Chandrashekhar - UBS Securities Vipul Garg Hello, everyone. I???m Vipul Garg, Vice President, Investor Relations at MakeMyTrip Limited. And welcome to our fiscal y ...

Exhibit 99.1 MAKEMYTRIP LIMITED ANNOUNCES FISCAL 2023 FIRST QUARTER RESULTS Financial Highlights for Fiscal 2023 First Quarter Gurugram, India and New York, July 27, 2022 — MakeMyTrip Limited (NASDAQ: MMYT), India's leading travel service provider, today announced its unaudited financial and operating results for its fiscal first quarter ended June 30, 2022. "We witnessed strong recovery during the first quarter of fiscal year 2023, largely attributable to increased demand for travel during the summer holid ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR (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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Title of Class) (Trading Symbol) (Name of Exchange On Which Re ...

MakeMyTrip Limited (NASDAQ:MMYT) Q4 2022 Earnings Conference Call May 25, 2022 7:30 AM ET Company Participants Vipul Garg - Vice President, Investor Relations Deep Kalra - Founder & Group Executive Chairman Rajesh Magow - Co-Founder & Group Chief Executive Officer Mohit Kabra - Group Chief Financial Officer Conference Call Participants Gaurav Rateria - Morgan Stanley Vijit Jain - Citi Operator Vipul Garg Hello, everyone. I'm Vipul Garg, Vice President, Investor Relations at MakeMyTrip Limited. And welcome t ...

Financial Performance - Gross Bookings reached $1,012.3 million in Q4 FY22, up 33.2% from $759.2 million in Q4 FY21, and $3,188.9 million for FY22, up 95.1% from $1,635.4 million in FY21[4] - Revenue for Q4 FY22 was $88.6 million, an increase of 11.8% from $79.2 million in Q4 FY21, and $303.9 million for FY22, up 85.6% from $163.4 million in FY21[4] - Adjusted Operating Profit for Q4 FY22 improved to $12.0 million from $11.1 million in Q4 FY21, and for FY22 increased to $23.2 million from an Adjusted Operating Loss of $18.0 million in FY21[4] - Revenue for the year ended March 31, 2022, was $303.9 million, an increase of 86.0% compared to $163.4 million for the year ended March 31, 2021[25] - The company reported a loss for the year of $45,567 million, an improvement from a loss of $56,042 million in the previous year[63] - The company’s marketing and sales promotion expenses increased to $51,033 million for the year, up from $22,741 million, reflecting a growth of 124.5%[59] - Adjusted Net Profit for the year ended March 31, 2022, was $21.7 million, compared to an Adjusted Net Loss of $9.2 million in the prior year[38] Revenue Breakdown - Revenue from the air ticketing business increased by 4.6% to $25.3 million in Q4 FY22, with an Adjusted Margin of $44.8 million, up 17.1%[11] - Revenue from hotels and packages increased by 18.6% to $45.1 million in Q4 FY22, with an Adjusted Margin of $42.3 million, up 18.8%[12] - Revenue from bus ticketing increased by 7.0% to $12.6 million in Q4 FY22, with an Adjusted Margin of $12.4 million, up 12.4%[13] - Revenue from other business segments increased by 6.9% to $5.5 million in Q4 FY22, with an Adjusted Margin of $5.7 million, up 10.4%[14] - Revenue from the air ticketing business increased by 55.6% to $88.7 million for the year ended March 31, 2022, from $57.0 million in the previous year[28] - Revenue from hotels and packages increased by 131.4% to $157.3 million for the year ended March 31, 2022, from $68.0 million in the previous year[29] - Revenue from air ticketing for the year ended March 31, 2022, was $88.71 million, a substantial increase from $57.01 million in 2021, representing a 55.7% growth[68] - Revenue from hotels and packages for the year ended March 31, 2022, surged to $157.27 million, compared to $67.98 million in 2021, indicating a 131.1% increase[68] Expenses and Costs - Personnel expenses increased by 5.4% to $30.3 million in Q4 FY22, primarily due to higher share-based compensation and annual wage increases[16] - Marketing and sales promotion expenses increased by 2.5% to $12.1 million in Q4 FY22, reflecting the recovery in domestic travel demand[17] - Customer inducement costs recorded as a reduction of revenue were $33.7 million in Q4 FY22, compared to $24.7 million in Q4 FY21[18] - Other operating expenses increased by 59.7% to $81.6 million for the year ended March 31, 2022, from $51.1 million in the previous year[34] - Finance costs for the year ended March 31, 2022, increased significantly to $26.33 million, compared to $4.80 million in 2021, marking a 448.5% rise[69] Profitability Metrics - Loss for the quarter ended March 31, 2022, was $4.1 million, compared to a profit of $3.2 million in the same quarter of 2021[23] - Adjusted Net Profit for the quarter ended March 31, 2022, was $8.7 million, down from $12.1 million in the same quarter of 2021[23] - Diluted loss per share for the quarter ended March 31, 2022, was $0.04, compared to diluted earnings per share of $0.03 in the same quarter of 2021[24] - For the year ended March 31, 2022, the company reported a loss from operating activities of $30.4 million, an improvement from a loss of $67.7 million in the previous year[36] - The loss for the year ended March 31, 2022, was $45.6 million, reduced from a loss of $56.0 million in the previous year[38] - The basic earnings per share for the year ended March 31, 2022, was $(0.42), compared to $(0.52) in 2021[59] Cash and Assets - The company had cash and cash equivalents of $477.5 million and undrawn credit facilities of approximately $132.5 million as of March 31, 2022[40] - Total assets increased to $1,322.7 million as of March 31, 2022, from $1,309.0 million in the previous year[56] - Total equity attributable to owners of the company was $894.1 million as of March 31, 2022, compared to $887.5 million in the prior year[56] - Loans and borrowings increased to $213.8 million as of March 31, 2022, from $201.6 million in the previous year[56] - Cash and cash equivalents at the end of the year decreased to $213,283 million from $295,066 million, reflecting a decrease of 27.7%[63] - Operating activities generated net cash of $5,998 million for the year, a significant decline from $64,526 million in 2021[63] Growth Metrics - For the three months ended March 31, 2022, reported revenue growth was 11.8%, with air ticketing growing by 4.6%, hotels and packages by 18.6%, and bus ticketing by 7.0%[71] - For the year ended March 31, 2022, total reported revenue growth was 86.0%, with air ticketing increasing by 55.6%, hotels and packages by 131.4%, and bus ticketing by 60.3%[71] - The constant currency growth for the year ended March 31, 2022, was 87.0%, with air ticketing at 56.4%, hotels and packages at 132.5%, and bus ticketing at 61.5%[71] - The impact of foreign currency translation on reported growth for the year was approximately 1.0% across all segments[71]

Financial Data and Key Metrics Changes - The company reported total gross bookings of $1,155.7 million, marking a growth of 95% year-on-year and 8.5% quarter-on-quarter, the highest since the pandemic [35][36] - Adjusted operating profit reached $13.2 million, nearly doubling from $6.6 million in the previous quarter and 2.6 times higher than $5.2 million in the same quarter last year [35][36] - Adjusted operating cash profit for the quarter was approximately $7.6 million, the highest achieved to date [35] Business Line Data and Key Metrics Changes - The air ticketing segment saw an adjusted margin of $52.9 million, representing a 105.9% increase year-on-year and a 38.4% increase quarter-on-quarter [36] - The hotels and packages business recorded an adjusted margin of $54.1 million, up 17.6% year-on-year and 53.6% quarter-on-quarter [36] - The bus ticketing business, led by the redBus brand, achieved an adjusted margin of over $14.1 million, a 58.4% increase year-on-year and a 79.1% increase quarter-on-quarter [36] Market Data and Key Metrics Changes - Domestic travel demand showed strong recovery, with a 94% increase in volume of tickets compared to the same quarter last year [17] - International travel demand remained slow, with notable growth only in the Maldives and Dubai, where bookings increased by 300% compared to pre-COVID times [23][36] - The company maintained a market share of approximately 30% in the domestic air ticketing business and 65-70% in the online bus ticketing segment [50] Company Strategy and Development Direction - The company is focusing on increasing online travel bookings, particularly in Tier 2 and 3 cities, by simplifying the travel planning and booking process [9][10] - Investments in new platforms like myBiz and myPartner aim to tap into new demand segments and enhance the user experience [11][30] - The company is committed to enhancing its product offerings, including the introduction of assurance-driven products and personalized booking experiences [22][31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for a strong recovery in the travel and tourism industry in 2022, anticipating a rebound in domestic travel following the Omicron wave [11][41] - The company noted that the vaccination coverage in India provides hope for a decline in daily new infections, which could lead to increased travel demand [5][6] - Management highlighted the importance of maintaining cost efficiencies and a strong cash position, with over $450 million in cash and cash equivalents [80] Other Important Information - The company launched a scholarship program for underprivileged students affected by COVID-19 and is working with the government to boost community-based tourism [13] - The company has seen a significant increase in new user acquisition in the GCC region, with a 96% quarter-on-quarter increase [30] Q&A Session Summary Question: Did the business return to pre-COVID levels in Q3? - Management indicated that there were days when air ticketing business recovery reached 90-95% of pre-COVID levels, with strong demand sentiment across domestic travel [46][47] Question: Updates on the advertisement vertical? - The company is continuously investing in its third-party advertisement platform, enhancing product offerings and gaining traction from partners [48][49] Question: What is the commission structure for the cab business? - The cab business operates on a commission or revenue share model, with a focus on improving the overall product experience [52][53] Question: How do you expect margins to move next year? - Management expects margins to remain stable, with air ticketing margins around 6-7% and hotel margins in the high teens, while maintaining a profitable path [77][79] Question: Any update on India listing plans? - The company has no immediate plans for an India listing but remains open to options in the future [82]