MakeMyTrip India receives Rs 100 crore from its Mauritius-based entity.
MakeMyTrip earned $124.8million in Quarter 3 of the Financial year 2019.
Go-MMT is a major player in the online travel segment.
MakeMyTrip India Pvt. Ltd an Indian arm of Mauritius-based parent entity MakeMyTrip has received Rs 100 crore from the Mauritius-based entity. This investment is the third tranche of MakeMyTrip in its Indian subsidiary.
According to Registrar of Companies filings with MCA Mauritius-based entity also poured in Rs 73 crore in November and Rs 138 crore in August 2018. MakeMyTrip India is planning to use raised amount in developing and expanding its services to give tough competition to its
Rival Yatra. Go-MMT (goibibo plus MakeMyTrip) is a leader in both hotel bookings and air ticketing sector. Exclusive partnership with SoftBank-backed OYO has been powering supply side for the Gurugram-based behemoth.
MakeMyTrip had its major funding of $330 Million two years back Naspers, Ctrip and several others. In the same time, Naspers-incubated gobibo merged with the Rajesh Magow-led company in January 2018. In the third quarter of the financial year 2019 MakeMyTrip had earned $124.8 million in which hotel and packages contributed 46.6 % of overall revenue of that quarter and during the same quarter in the Financial year 2018, hotel and packages had a 66 % share in the total $172.4 million revenue earned by the company. The company has shown a reduction in its profit and loss metrics in Quarter 3 of the Financial year 2019 with a comparison to Q3 FY18. The company also managed to control its losses by 30.4 % to $12 million.
Go-MMT is a major player in the online travel segment and soon Samsung-backed HappyEasyGo is set to outnumber Yatra from the second spot. Yatra a Singapore based company led by Chinese entrepreneur Boris Zha claims to process 25,000 air tickets a day. MakeMyTrip is working his toes and knees to give tough competition to its rivals and grab the travel market.
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