MakeMyTrip Limited reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2012. For the quarter, the company reported total revenues of $45,668,819 compared to $43,789,969 a year ago. Negative result from operating activities was $3,023,147 compared to positive result from operating activities of $932,679 a year ago. Loss before tax was $1,689,010 compared to profit before tax was $71,116 a year ago. Loss attributable to the owners of the company was $1,161,470 or $0.03 per basic and diluted share compared to profit attributable to the owners of the company of $121,058 or $0.003 per basic and diluted share a year ago. Adjusted operating profit was $37,779 compared to $2,376,339 a year ago. Adjusted net income was $1,153,576 or $0.03 per adjusted diluted share compared to $1,571,458 or $0.04 per adjusted diluted share a year ago. The high growth of gross bookings was offset by the decline in net revenue margin to 6.5%, down from 7.8% a year ago and resulting net revenue growth was about 5% in constant currency year-over-year.

For the six months period, the company reported total revenues of $109,803,015 compared to $95,837,649 a year ago. Negative result from operating activities was $3,220,980 compared to positive result from operating activities of $2,724,450 a year ago. Loss before tax was $2,671,667 compared to profit before tax was $820,236 a year ago. Loss attributable to the owners of the company was $1,966,749 or $0.02 per basic and diluted share compared to profit attributable to the owners of the company of $877,907 or $0.05 per basic and diluted share a year ago. Net cash generated from operating activities was $9,055,019 compared to net cash used in operating activities of $20,053,663 a year ago. Adjusted operating profit was $2,568,970 compared to $4,062,247 a year ago. Adjusted net income was $2,998,164 or $0.08 per adjusted diluted share compared to $3,127,083 or $0.08 per adjusted diluted share a year ago.

The company has appointed Mr. Rajesh Magow, co-founder and group chief financial and operating officer and Mr. Keyur Joshi, co-founder and group chief commercial officer, as directors of the company effective November 6, 2012.

The company is revising its fiscal year 2013 constant-currency net revenue growth guidance to 13% to 16% or $89 million to $91 million at an exchange rate of INR 54 per $1.