MakeMyTrip Gains Revenue Momentum In Q1 FY22; Loss Narrows To $8.6 Mn
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India, July 28 -- Indian online travel company MakeMyTrip posted revenue of $32.8 Mn in the Q1 FY22, an increase of 416% from Q1 FY21, when it posted $6.4 Mn revenue. The company's overall adjusted loss for the quarter was $8.6 Mn, compared to $21.3 Mn in the same quarter last year. Operating losses narrowed to $19.5 Mn from $38.7 Mn a year earlier.
The company said that relaxation in domestic travel by state governments helped the company's revenue grow as compared to Q1 of FY21 when the country was under nationwide lockdown in the backdrop of the first wave of the pandemic. Overall, the company had posted a loss of $56Mn for FY21 as compared to a loss of $447.5 Mn in the previous year, as revenue declined by 68%.
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