6-K
MakeMyTrip Ltd (MMYT)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of January 2023
Commission File Number 001-34837
MAKEMYTRIP LIMITED
(Exact name of registrant as specified in its charter)
19th Floor, Building No. 5
DLF Cyber City
Gurugram, India, 122002
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Other Events
Unaudited Business and Financial Highlights for the Quarter ended December 31, 2022
On January 31, 2023, MakeMyTrip Limited (“MakeMyTrip”) issued a press release announcing its unaudited business and financial highlights for the fiscal third quarter of 2023 (i.e. quarter ended December 31, 2022). A copy of the press release dated January 31, 2023 is attached hereto as Exhibit 99.1.
Exhibit
| 99.1 | Press release by MakeMyTrip Limited dated January 31, 2023. |
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EXHIBIT INDEX
| 99.1 | Press release by MakeMyTrip Limited dated January 31, 2023. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: January 31, 2023
| MAKEMYTRIP LIMITED | |
|---|---|
| By: | /s/ Rajesh Magow |
| Name: | Rajesh Magow |
| Title: | Group Chief Executive Officer |
EX-99.1
Exhibit 99.1
EARNINGS PRESS RELEASE
MMT reports highest ever quarterly Gross Bookings and Adjusted Operating Profit1
Gross Bookings grow by 64.4% YoY2 to $1.74 Billion | Adjusted Operating Profit at $19.7 Million
National, January 31, 2023 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal third quarter ended December 31, 2022 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.
Business & Financial Highlights | Q3 FY2023
| Q3 FY23<br><br>($ Million) | Q3 FY22<br><br>($ Million) | YoY Change<br><br>(Constant<br><br>Currency)2 | |
|---|---|---|---|
| Gross Bookings | 1,738.2 | 1,155.7 | 64.4% |
| Revenue as per IFRS | 170.5 | 115.0 | 61.7% |
| Adjusted Margin1 | |||
| Air Ticketing | 70.2 | 52.9 | 45.2% |
| Hotels and Packages | 72.0 | 54.1 | 45.3% |
| Bus Ticketing | 20.3 | 14.1 | 57.6% |
| Others | 9.6 | 5.9 | 79.1% |
| Results from Operating Activities | 7.5 | (6.2) | |
| Adjusted Operating Profit (Loss)1 (also known as Adjusted EBIT)3 | 19.7 | 13.2 | |
| Profit / (Loss) for the period | 0.2 | (9.0) |
• Demand for leisure travel and tourism improved this quarter on the back of peak seasonality. Q3 FY23 Gross Bookings grew by 64.4% in constant currency2 YoY to $1.74 billion, the highest ever in our Company’s history.
• Adjusted Operating Profit1 of $19.7 million in Q3 FY23, as compared to $13.2 million in Q3 FY22, the highest ever in our Company's history, on the back of strong operating leverage.
• Profit for the period was $0.2 million as compared to a loss of $9.0 million during same quarter last year.
Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,
“Positive consumer sentiment and peak seasonality on the back of festivals and holidays led to improved travel demand during this quarter. As a result, we recorded our highest ever quarterly Gross Bookings and Adjusted Operating Profit. Strong growth across air, hotels and bus bookings reaffirms our position as a trusted travel super-app in India.”
Notes:
(1) This is a non-IFRS measure. Reconciliations of IFRS measures to non-IFRS financial measures, and operating results are included at the end of the earnings release. For more information, see “About Key Performance Indicators and Non-IFRS Measures” in our earnings release.
(2) 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 period in the prior fiscal year.
(3) Adjusted Operating Profit (Loss) is commonly referred to among investors and analysts in India as Adjusted EBIT.