RTTNews | Jan 28, 2021 07:57AM EST

07:57 Thursday, January 28, 2021 (RTTNews.com) - MakeMyTrip Limited (MMYT) reported third quarter adjusted earnings per share of $0.07, compared to a loss of $0.15, a year ago. Adjusted operating profit was $5.2 million, for the quarter.

Third quarter revenue was $56.8 million, a decrease of 61.3% (59.6% in constant currency) from $146.9 million, previous year. Revenue from air ticketing business decreased by 62.1% (60.4% in constant currency) to $18.2 million. Revenue from hotels and packages business decreased by 66.6% (65.0% in constant currency) to $24.4 million.

As at December 31, 2020, the balance of cash and cash equivalents and term deposits on the company's balance sheet was $227.6 million. Also, the company has secured credit and guarantee facilities of approximately $100 million.

Deep Kalra, Group Executive Chairman, said: "Our cost optimization initiatives have helped us to deliver on our strategic goal of achieving adjusted operating profitability during the reported quarter."

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