MakeMyTrip Limited (NASDAQ:MMYT) Q3 2023 Earnings Call Transcript

Vipul Garg: Thanks Aditya. The next question is from the line of Tarbir Shahpuri of Nidara Capital. Tarbir, you may please unmute yourself and ask the question now.

Tarbir Shahpuri: Thanks Vipul. Actually, my question is for you. Vipul, when are you going to organize an investor day for us?

Vipul Garg: We were working on it. Give us some time. We are getting the structure ready. So hopefully soon we’ll come back with the details.

Tarbir Shahpuri: Anyway congratulations guys. Good luck for the next question.

Vipul Garg: Thanks Tarbir. The next question is from the line and it will be the last question, we are out of time. It’s with from Hong Kong. Lester, you may please unmute yourself and ask the question now.

Unidentified Analyst: In the past, the management gave guidance that the adjustment operating margins will not be lower than 1% of their gross booking revenue. And for Q3, I did a quick calculation is about 1%, 2%. And Q3 already is a peak season. So does it mean that the other non-peak seasons, the percentage may fall below 1%, or you are confident that you can maintain the 1% in the future?

Mohit Kabra: Lester, let me take that. We’re guided for this full fiscal year. We would kind of you know look at close to about 1%. And if you look at on YTD basis, we are kind of slightly better than the 1% that we are guided for. And therefore, we do believe that for the full year also as a whole, we should be able to kind of maintain that 1% run rate or be slightly above that, and we should know in about a quarter’s time. We will share more color about the subsequent years as we kind of get into the new fiscal year.

Unidentified Analyst: Okay, thank you very much. So see you soon in person in our conference.

Mohit Kabra: Surely, look forward.

Vipul Garg: Thank you, Lester. That was our last question. I’ll just now hand over to Rajesh for his closing comments.

Rajesh Magow: Yes, thank you, Vipul. And thank you, everyone. Thank you, everyone, for your patience, your time, and all the interesting questions. And then look forward to come back to you next quarter. Thanks a lot.

Mohit Kabra: I would just add that you know, in case we have not been able to take questions from any of your participants due to paucity of time, please feel free to you know writing to Vipul and we will try and get back to you as soon as we can.

Vipul Garg: Thank you, Rajesh. Thank you, Mohit. This brings us to the end of the call. You may please disconnect. Thank you.

Mohit Kabra: Thank you.

Rajesh Magow: Thank you. Bye.