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[Travel News]: MakeMyTrip reports a decrease of 82.2% in revenue but sees growth from last quarter

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The following is the [Travel News]: MakeMyTrip reports a decrease of 82.2% in revenue but sees growth from last quarter from [ChinaTravelNews] recommended by TheTourAttraction.com:

Results from Operating Activities was a loss of $26.1 million in 2Q21 versus a loss of $31.9 million in 2Q20, reflecting an improvement of $5.8 million YoY.

MakeMyTrip Limited, India’s leading online travel company, announced its unaudited interim financial and operating results for its fiscal second quarter ended September 30, 2020.

The results for the 2Q21 have continued to be significantly and negatively impacted by the COVID-19 pandemic and the resulting economic conditions. However, since nationwide government-imposed lockdown orders had been slowly lifted in late May, MakeMyTrip had seen a gradual recovery in travel demand, with sequential month on month improvements across all its lines of business. 

MakeMyTrip generated revenue of $21.1 million in 2Q21, a decrease of 82.2% over revenue of $118.0 million in the quarter ended September 30, 2019, primarily as a result of a decrease of 76.4% (74.9% in constant currency) in air ticketing, a decrease of 90.6% in hotels and packages, a decrease of 81.4% in bus ticketing, and a decrease of 71.3% in others.

Results from Operating Activities was a loss of $26.1 million in 2Q21 versus a loss of $31.9 million in 2Q20, reflecting an improvement of $5.8 million YoY.

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