New Delhi, May 15 (IANS) Travel service provider MakeMyTrip on Wednesday announced 38.1 per cent revenue growth (year-on-year) in the January-March quarter of FY24, adding that gross bookings grew by 23 per cent to $2.03 billion from $1.67 billion in the same quarter in the last fiscal year.
The company clocked $171.9 million in profit for the quarter, which includes a one-time credit of $126.1 million on recognition of deferred tax assets and a one-time gain of $30.6 million “due to the change in carrying value of our convertible notes due 2028 measured at amortised cost”.
Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said that Indians are embracing the call to travel with a newfound enthusiasm, with both leisure and business-related travel demand in the country having crossed pre-pandemic levels.
“Our strategy to serve millions of our customers and first-time travellers through a comprehensive portfolio of travel and ancillary products with personalised experiences is yielding results,” he said.
Last month, the company announced it has expanded its reach to over 150 countries, including major travel markets like the UK, Germany, Japan, Italy, France, and others.
“We are pleased that we have bounced back stronger from the Covid-19 pandemic by posting our best-ever financial performance during fiscal year 2024 in terms of both gross bookings and profit,” Magow said.
–IANS
na/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
