Makemytrip.com Claims To Break Even, Double Revenue This Fiscal

Online travel firm MakeMyTrip.com is likely to break even and nearly double its online transactions and revenue this fiscal, according to the Business Standard. The report follows the March announcement by smaller rival Yatra.com that it will break even by end of 2008.
Makemytrip.com is targeting revenue of Rs. 1,000 crore this financial year, up from Rs. 550 crore in the 2006-2007 year.
Still, it waits to be seen if Co Founder and Chief Operating Officer Keyur Joshi’s prediction to double the total number of online transactions from the previous fiscal year’s 7 lakhs will help the company move from break even to a profit. One avenue the online travel site plans to get aggressive about is online hotel bookings. So far air tickets comprise 80 percent of its revenues and hotel bookings contribute to just 20 percent of revenues, MakeMyTrip.com claims. But it seems like the company has mixed feelings about its plans to drive up its online business. Recently, the site got press coverage for its counters in retail store Spencers as a sign that online ticketing agents are going offline.
Just a note of caution to our readers on the numbers in the story, since the site is not listed and doesn’t have regulators poring over its books.

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