MakeMyTrip(US:MMYT)2024-07-23 10:07Revenue Growth - Revenue for Q1 FY2025 increased by 29.4% YoY to $254.5 million, with a constant currency growth of 31.4%[7] - Total revenue for the three months ended June 30, 2024, increased by 29.2% to $254.5 million from $196.7 million in the same period of 2023[43] - Consolidated revenue for the three months ended June 30, 2024, increased to $254.51 million, up from $196.73 million in 2023, representing a growth of 29.4%[49] Segment Performance - Air ticketing revenue rose by 25.4% YoY to $57.5 million, while adjusted margin for air ticketing increased by 19.6% YoY to $89.1 million[9][10] - Hotels and packages revenue grew by 27.5% YoY to $146.8 million, with adjusted margin increasing by 25.4% YoY to $107.3 million[10] - Bus ticketing revenue increased by 17.2% YoY to $29.2 million, and adjusted margin rose by 18.6% YoY to $32.4 million[11][12] - Revenue from other services surged by 95.2% YoY to $20.9 million, with adjusted margin increasing by 36.6% YoY to $14.9 million[13] Profitability - Adjusted operating profit improved to $39.1 million, reflecting a YoY increase of $9.0 million[6] - Adjusted net profit rose to $44.5 million, marking a YoY improvement of $10.9 million[6] - Profit for the quarter ended June 30, 2024, was $21.0 million, an increase from $18.6 million in the same quarter of 2023[22] - Adjusted Net Profit was $44.5 million for the quarter ended June 30, 2024, compared to $33.6 million in the same quarter of 2023[22] - Adjusted Operating Profit was $39.1 million for the quarter ended June 30, 2024, compared to $30.1 million in the same quarter of 2023[19] Expenses - Service costs increased by 42.8% YoY to $85.1 million, driven by robust travel demand[15] - Personnel expenses rose by 12.9% YoY to $38.2 million, primarily due to annual wage increases[16] - Marketing and sales promotion expenses increased by 31.0% to $40.1 million for the quarter ended June 30, 2024, compared to $30.6 million for the same period in 2023[17] - Other operating expenses increased by 20.3% to $56.7 million for the quarter ended June 30, 2024, up from $47.1 million in the prior year[17] - Customer inducement costs recorded as a reduction of revenue rose to $74.2 million in the quarter ended June 30, 2024, from $61.2 million in the same quarter of 2023[17] Financial Position - Total assets as of June 30, 2024, were $1.73 billion, up from $1.66 billion as of March 31, 2024[40] - Cash and cash equivalents at the end of the period increased to $348.8 million from $327.1 million at the beginning of the period[47] - The company’s accumulated deficit decreased to $999.5 million as of June 30, 2024, from $1.02 billion as of March 31, 2024[40] - The company’s total equity attributable to owners increased to $1.14 billion from $1.11 billion over the same period[40] - Loans and borrowings increased slightly to $224.6 million as of June 30, 2024, from $221.6 million as of March 31, 2024[40] Market Outlook - The company anticipates continued growth in India's travel and tourism sector, driven by macroeconomic factors[5] Earnings Per Share - Diluted earnings per share increased to $0.19 for the quarter ended June 30, 2024, from $0.17 in the same quarter of 2023[23] - The adjusted diluted earnings per share improved to $0.39 in 2024 from $0.30 in 2023, reflecting a growth of 30%[51]