Online travel portal, MakeMyTrip.com is exploring further acquisitions to shore up revenues and expand its international footprint. Over 90 per cent of MakeMyTrip’s revenues come from India and airline ticking accounted for 68 per cent of revenues in the first quarter of 2011- 12. However, the Gurgaon-based online portal is now scaling up operations outside India and focusing on hotel reservations and the leisure travel business.
In the first quarter of FY 2012, air business contributed 68 per cent of the net revenue, while hotels and packages contributed 28 per cent and emerging segments (like rail, bus and travel insurance) contributed the balance four per cent.
The company turned profitable this year for the first time since its launch 11 years ago. The company posted a net profit of USD 4.8 million (Rs 23 crore) for the year ended March 2011. Its market capitalisation of USD 831.8 million (Rs 3,993 crore) is higher than Jet Airways (Rs 2,096 crore) and Kingfiser (Rs 1,164 crore), the two largest Indian carriers. However, its capitalisation is much less in comparison to other travel portals such as Clear Trip.com, Expedia and Priceline, according to a report in Business Standard.
A company spokesperson said that it now plans to use the funds which it raised during initial public offering and follow-on offering on mergers and acquisitions largely. “We are exploring opportunities to acquire travel firms. Along with picking up a 79 per cent stake in luxury tours, we also acquired 19 per cent in online travel search engine ixigo.com last month,” he added. MakeMyTrip.com has recently acquired Singapore-based Luxury Tours.
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Commis II Indian - Jobs in India