MakeMyTrip Narrows Costs In FY20 To Absorb Covid-19 Revenue Shock
In terms of business performance, MakeMyTrip in Q4 FY20 has recorded a revenue of $104.94 Mn, a fall of 12.6% Y-o-Y from $120.1 Mn in Q4 FY19.
However, the companyâ€™s loss for the quarter has grown 9.66X from $30.9 Mn from Q4 FY19 to $330.25 Mn in Q4 FY20.
Bookings fell to $47.53 Mn in Q4 FY20 from $58.18 Mn the year before, which is nearly a 20% decline.
MakeMyTrip Sums Up Covid-19 ImpactOne of the major notable factors for the company in Q4 FY20 and the full fiscal year overall has been its goodwill impairment.
He noted that there is a huge challenge ahead, but the travel business will rebound.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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