Hafiz Saeed
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Maldives Dispute Sparks 3,400% Surge in Lakshadweep Searches, Prompts 'Beaches of India' Campaign by MakeMyTrip
The travel company took to X, previously known as Twitter, to share this surge in interest, attributing it to the Prime Minister's visit.
MakeMyTrip logs $70.3 mn operating profit in FY23, highest-ever in its history
The gross Bookings for Q4 grew by 80.7 per cent YoY in constant currency to $1.7 billion. Adjusted operating profit was $19 million in Q4, as compared to $12 million in Q4 FY22. The company registered $5.4 million profit in Q4 FY23, as compared to a loss of $4.1 million in Q4 FY22.
MakeMyTrip logs highest-ever quarterly gross bookings at $1.75 bn
The company earned adjusted operating profit of $19.7 million in Q3 FY23, as compared to $13.2 million in Q3 FY22, over the revenue of $170.5 million (versus $115 million in 3Q22). Profit for the period was $0.2 million as compared to a loss of $9 million during the same quarter last year.
MakeMyTrip's B2B platform MyBiz logs 3X growth over pre-Covid period
MyBiz offers services like booking domestic and international flights, hotels in India and overseas, train, cabs, bus, forex, visa and corporate clients. According to the company, MyBiz currently serves more than 6,300 large and mid-market corporates and more than 39,900 small and medium enterprises (SMEs).
Competition Commission penalises OYO, GoIbibo, MakeMyTrip
"Based on the complaints filed by us back in 2019, Oyo and Go-MMT were under investigation by the CCI for indulging in anti-competitive conduct. The CCI had then identified a case for investigations into both the entities' business practices under Section 26(1) of the Competition Act, 2002. Today, the CCI has imposed penalties of Rs 223 crore and Rs 168 crore on Go-MMT and Oyo for anti-competition practices.
MakeMyTrip forays into NFTs to display unexplored domestic landscapes
Online travel platform MakeMyTrip on Monday announced to foray into the world of non-fungible tokens (NFTs) to celebrate the popular as well as unexplored travel landscapes in the country. The first batch of these digitally-crafted artworks cover the majestic landscapes of Goa, Ladakh, Orissa, Himachal, Kashmir, Kerala, Meghalaya, Rajasthan and Andamans. MakeMyTrip said it will pass on all proceeds from the sale of these NFTs to promote sustainable tourism in the country.
MakeMyTrip Founder Deep Kalra moves into chief mentor role
According to an SEC filing, the company said: "In his new role as Group Chairman and Chief Mentor effective April 1, 2022, which was approved by the board of directors of MakeMyTrip, Deep Kalra will devote his time in providing mentorship to MakeMyTrip's leadership team, as well as continuing to pursue strategic initiatives such as product innovation and expansion." Kalra has been the Group Executive Chairman of MakeMyTrip since February 11, 2020.
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