Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

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 July 2024

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 of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

 

 

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Other Events

Unaudited Business and Financial Highlights for the Quarter ended June 30, 2024

 

On July 23, 2024, MakeMyTrip Limited (“MakeMyTrip”) issued a press release announcing its unaudited business and financial highlights for the fiscal first quarter of 2025 (i.e. quarter ended June 30, 2024). A copy of the press release dated July 23, 2024 is attached hereto as Exhibit 99.1.

 

 

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Exhibit

 

99.1		Press release by MakeMyTrip Limited dated July 23, 2024.

 

 

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EXHIBIT INDEX

 

99.1		Press release by MakeMyTrip Limited dated July 23, 2024.

 

 

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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: July 23, 2024

 

MAKEMYTRIP LIMITED
By:		/s/ Rajesh Magow
Name:		Rajesh Magow
Title:		Group Chief Executive Officer

 

 

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Exhibit 99.1

EARNINGS PRESS RELEASE

 

MakeMyTrip delivers highest-ever Gross Bookings and Revenue

National, July 23, 2024 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal first quarter ended June 30, 2024 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.

Business & Financial Highlights | Q1 FY25

 

	Q1 FY25 ($ Million)	Q1 FY24 ($ Million)	YoY Change (Constant Currency)2
Gross Bookings	2,380.4	1,987.5	21.6%
Revenue as per IFRS	254.5	196.7	31.4%
Adjusted Margin1
Air Ticketing	89.1	74.5	21.2%
Hotels and Packages	107.3	85.6	27.3%
Bus Ticketing	32.4	27.3	20.7%
Others	14.9	10.9	38.6%
Results from Operating Activities	27.9	19.1
Adjusted Operating Profit (Loss)1 (also referred to as Adjusted EBIT)3	39.1	30.1
Profit / (Loss) for the period	21.0	18.6

 

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Revenue as per IFRS grew by 31.4% YoY in constant currency2 to $254.5 million in Q1 FY25 from $196.7 million in Q1 FY24.

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Adjusted Operating Profit1 registered growth of 29.9% YoY and reached $39.1 million in Q1 FY25 compared to $30.1 million in Q1 FY24.

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Profit for Q1 FY25 was $21 million, including income tax expenses of $8.5 million due to a reversal of the deferred tax assets.

 

Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,

 

“We are pleased to see a robust start to this fiscal year. We believe that the long-term growth story of India's travel and tourism sector is fuelled by multiple macroeconomic drivers like increasing government investments in travel infrastructure, rising disposable incomes of the middle class, and increasing propensity to travel. These drivers indicate that India's travel and tourism industry growth is expected to be higher than the country’s GDP growth rate. We aim to continue to drive our growth by capitalising on the shift from offline to online buying and expanding our customer base and wallet share.”

 

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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 our 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. This is a non-IFRS measure. Reconciliations of IFRS measures to non-IFRS financial measures and operating results are included at the end of our earnings release. For more information, see “About Key Performance Indicators and Non-IFRS Measures” in our earnings release.

(3)

Adjusted Operating Profit (Loss) is commonly referred to among investors and analysts in India as Adjusted EBIT.

 

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