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Online travel services provider MakeMyTrip has reported a net profit of $3.7 million for the fourth quarter ended March 31, 2011, compared to a loss of $1.3 million in the same quarter last fiscal on the back of growth in air ticketing and hotel segments.
The company’s revenue increased by 48.5 per cent for the three-month period under review at $31.4 million against $21.1 million in the same quarter last fiscal, it said in a statement.
For the year ended March 31, 2011 MakeMyTrip posted a total net profit of $4.8 million compared to a net loss of $6.2 million in the previous fiscal. Revenue increased 49.3 per cent to $124.7 million from $83.6 million.
“Fiscal year 2011 marked an important milestone for MakeMyTrip as we successfully transitioned into a public listed company” the MakeMyTrip Chairman and CEO, Mr Deep Kalra, said.
The company offered innovative products, good value deals and improved booking experience to its customers, which enabled MakeMyTrip to maintain market leadership, he added.
“The company is setting its FY12 full year guidance range for revenue less service costs at $86 million to $89 million,” the statement said.
This guidance includes the company’s views on the possible impact to travel demand from current high crude oil prices and high inflation rates in India, it added.
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