Form 6-K MakeMyTrip Ltd For: May 25

May 25, 2022 7:38 AM EDT

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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 May 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 and Year ended March 31, 2022

On May 25, 2022, MakeMyTrip Limited (“MakeMyTrip”) issued a press release announcing its unaudited business and financial highlights for the fiscal fourth quarter of 2022 (i.e. quarter ended March 31, 2022) and for the full fiscal year of 2022 (i.e. year ended March 31, 2022). A copy of the press release dated May 25, 2022 is attached hereto as Exhibit 99.1.

 

 

 


 


 

 

 

Exhibit

 

 

99.1

Press release by MakeMyTrip Limited dated May 25, 2022.


 


 

 

EXHIBIT INDEX

 

 

 


 

 

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: May 25, 2022

 

MAKEMYTRIP LIMITED

 

 

 

By:

 

/s/ Rajesh Magow

Name:

 

Rajesh Magow

Title:

 

Group Chief Executive Officer

 

 

 

 

 

Exhibit 99.1

 

EARNINGS PRESS RELEASE

 

MMT delivers strong FY22 results with Gross Bookings growth of 95.9% YoY

FY22 Adjusted Operating Profit1 at $23.2 million as compared to Adjusted Operating Loss1 of $18.0 million in FY21 | Q4 Adjusted Operating Profit1 at $12.0 million

 

National, May 25, 2022 (NASDAQ: MMYT) MakeMyTrip Limited, India’s leading online travel company, today announced its unaudited financial and operating results for its fiscal fourth quarter and full fiscal year ended March 31, 2022 as attached herewith and available at www.sec.gov/ and on our website.

The key highlights set out in the earnings release include the following:

Business & Financial Highlights | Q4 FY2022 & Full Year FY2022

 

Q4 FY22

($ Million)

Q4 FY21

($ Million)

YoY Change

(Constant

Currency)2

FY22

($ Million)

FY21

($ Million)

YoY Change

(Constant

Currency)2

Gross Bookings

1,012.3

759.2

37.0%

3,188.9

1,635.4

95.9%

Revenue as per IFRS

88.6

79.2

15.1%

303.9

163.4

87.0%

Adjusted Margin1

 

 

 

 

 

 

   Air Ticketing

44.8

38.2

20.5%

155.5

80.2

94.7%

   Hotels and Packages

42.3

35.6

22.2%

144.1

67.5

114.5%

   Bus Ticketing

12.4

11.0

15.7%

38.3

22.9

69.0%

   Others

5.7

5.2

13.6%

18.6

13.6

37.7%

Results from Operating Activities

3.4

0.3

 

(30.4)

(67.7)

 

Adjusted Operating Profit (Loss)1

(also known as Adjusted EBIT)3

12.0

11.1

 

23.2

(18.0)

 

FY22 Gross Bookings grew by 95.9% YoY to approximately $3.2 billion, Q4 Gross Bookings exceeded $1 billion and grew by 37.0% YoY despite headwinds from the Omicron variant and inflationary pressures.

Long-term cost rationalization helped deliver significant improvement in Adjusted Operating Profit1 despite lower Gross Bookings in FY22 as compared with FY20 (pre-pandemic year). Adjusted Operating Profit1 was $23.2 million in FY22 compared to Adjusted Operating Loss1 of $18.0 million in FY21 and to Adjusted Operating Loss1 of $69.9 million in FY20 (pre-pandemic year).

Gross Bookings from our corporate travel business during FY22 grew by 266.7% YoY, driving contribution from our non-B2C businesses to high single digit.

Acquired majority stake in India’s leading online foreign exchange player Book My Forex Private Limited in April’22.

 

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

“Our long-term cost rationalization helped us post full year Adjusted Operating Profit1 of $23.2 million and Q4 Adjusted Operating Profit1 of $12.0 million in a year where business was impacted particularly due to both the Delta and Omicron variants. “Consumer sentiment remains strong especially for leisure travel and we hope to observe demand momentum for domestic travel by the first half of fiscal year 2023 and for international travel by the second half of fiscal year 2023.”


 

 

 

Notes:

(1)

This is a non-IFRS measure. For more information, see “About Key Performance Indicators and Non-IFRS Measures” in our earnings release. IFRS refers to International Financial Reporting Standards as issued by the International Accounting Standards Board (IASB). In addition, reconciliations of non-IFRS measures to IFRS financial measures, and operating results are included at the end of the 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.



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