MakeMyTrip(MMYT)2024-01-23 17:08Financial Data and Key Metrics Changes - The company reported gross bookings for the quarter at 33.4 million compared to 29.4 million from 1.3 billion, a year-on-year growth of 19.8% [21][57] - The accommodation business, including hotels and packages, saw strong growth, with over 63,000 unique domestic hotels sold across 1,760 cities [54] - The bus ticketing business reported gross bookings of 11 billion in airport modernization [20] - India is projected to become the fifth largest outbound market by 2027, with outbound travel recovering to pre-pandemic levels [52][53] Company Strategy and Development Direction - The company aims to enhance its platform by adding more products and use cases, focusing on personalization for corporate travelers [2] - There is a strong emphasis on improving customer experience and leveraging technology to drive efficiencies and growth in both B2B and B2C segments [115][119] - The company is committed to maintaining a competitive edge through continuous innovation and enhancing customer journeys [101][142] Management's Comments on Operating Environment and Future Outlook - Management noted a positive outlook driven by increased consumer travel frequency and infrastructure improvements [35][137] - The company is optimistic about the growth potential in the outbound travel segment, driven by rising disposable incomes and improved connectivity [42][74] - There is a recognition of healthy competition in the market, with a focus on profitability rather than aggressive market capture [47][120] Other Important Information - The company has a strong cash position of approximately $608 million, allowing for potential buybacks and investments [117][81] - The integration of new features, such as multi-room booking and enhanced personalization, is expected to drive customer engagement [123][72] Q&A Session Summary Question: What specific benefits did the hotels and packages business experience this quarter? - Management indicated that demand across all segments increased, with the Cricket World Cup contributing to heightened travel appetite [27][28] Question: How is the international outbound travel segment performing? - The company reported strong growth in holiday packages, particularly in the outbound segment, with significant contributions from B2B channels [31][32] Question: What is the outlook for competition in the travel market? - Management believes that competition remains healthy, with a focus on profitability rather than aggressive tactics [47][120] Question: How does the company view the operating leverage in the business? - The company aims to maintain growth while managing costs effectively, with expectations of improved margins over the next few years [48][95] Question: What are the plans for cash utilization moving forward? - The company is considering buybacks as a viable option, given its strong cash reserves and limited M&A opportunities [81][96]