MakeMyTrip announces growth in last fiscal year

MakeMyTrip announces 28.1 percent growth compared to last year and gross bookings reaching $5.4 billion in the 2019 fiscal year.

A mobile-centric approach and the emergence of new digital platforms fueling greater adoption of e-commerce has driven reach and growth of MakeMyTrip, the online travel company said in a presentation to investors.

With 28.1 percent growth, the platform''s gross bookings reached $5.4 billion in the 2019 financial year compared to the previous year.

In the first half of fiscal year 2020, gross bookings reached $3.2 billion, a growth of 22.3 percent year-over-year.

Its adjusted revenue grew 17.3 percent year-over-year to reach $379.6 million during the first half of this fiscal.

The platform experienced 13.5 percent growth in air ticketing segment, 13 percent growth in standalone online hotel bookings and 37.4 percent year-over-year growth in bus tickets sold.

Increasing use of Artificial Intelligence, Machine Learning and Big Data is driving better user experience, MakeMyTrip claimed.

Low penetration of hotels booked online presents large opportunities of growth in India, according to the presentation.

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