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 November 2022
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 September 30, 2022
On November 1, 2022, MakeMyTrip Limited (“MakeMyTrip”) issued a press release announcing its unaudited business and financial highlights for the fiscal second quarter of 2023 (i.e. quarter ended September 30, 2022). A copy of the press release dated November 1, 2022 is attached hereto as Exhibit 99.1.
Exhibit
| 99.1 | Press release by MakeMyTrip Limited dated November 1, 2022. |
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EXHIBIT INDEX
| 99.1 | Press release by MakeMyTrip Limited dated November 1, 2022. |
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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: November 1, 2022
| MAKEMYTRIP LIMITED | |
|---|---|
| By: | /s/ Rajesh Magow |
| Name: | Rajesh Magow |
| Title: | Group Chief Executive Officer |
EX-99.1
Exhibit 99.1
EARNINGS PRESS RELEASE
Quarterly Gross Bookings growth at 126.3% YoY2 |$15.1 Million Adjusted Operating Profit1
National, November 1, 2022 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2022 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.
Business & Financial Highlights | Q2 FY2023
| Q2 FY23<br><br>($ Million) | Q2 FY22<br><br>($ Million) | YoY Change<br><br>(Constant<br><br>Currency)2 | |
|---|---|---|---|
| Gross Bookings | 1,541.7 | 734.1 | 126.3% |
| Revenue as per IFRS | 131.3 | 67.5 | 111.4% |
| Adjusted Margin1 | |||
| Air Ticketing | 75.0 | 38.6 | 109.2% |
| Hotels and Packages | 57.4 | 35.5 | 74.7% |
| Bus Ticketing | 16.9 | 7.9 | 129.8% |
| Others | 7.5 | 4.4 | 89.1% |
| Results from Operating Activities | 3.9 | (8.0) | |
| Adjusted Operating Profit (Loss)1 (also known as Adjusted EBIT)3 | 15.1 | 6.6 |
• Q2 FY23 Gross Bookings grew by 126.3% YoY to approximately $1.5 billion. Improving domestic travel demand helped us achieve strong growth even in a seasonally weak quarter.
• While the overall recovery in business travel has been muted compared to leisure travel, we continue to see significant growth in our corporate travel business compared to pre-pandemic levels.
• Adjusted Operating Profit1 of $15.1 million in Q2 FY23, as compared to $6.6 million in Q2 FY22, which continues to be robust on the back of our strong operating leverage.
Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,
“Travel continues to rebound on the back of waning COVID-19 infections and positive consumer sentiment. We witnessed strong performance both in terms of revenue and profitability in a seasonally weak quarter. As a leading travel service provider, we continue to garner a major share of travel demand on the back of our robust multi-product platform and customer-first approach.”
Notes:
(1) This is a non-IFRS measure. Reconciliations of non-IFRS measures to 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.