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MakeMyTrip reported a net loss of $9.2 million in the fiscal year ended March 2021, compared to a net loss of $86.5 million in the previous year. In line with the results of other travel ticketing platforms, the Gurgaon-based firm suffered a loss primarily due to the continued impact of the COVID-19 pandemic which led to travel restrictions and nationwide lockdown.
The platform’s revenues slipped to $163.4 million as of FY21, from $511.5 million as of the end of FY20, the company’ financial results said. Overall, the company’s operating loss was $18 million for FY21 versus a loss of $69.9 million for FY20. With the second wave of COVID-19 going on, the company said that it is unsure of the extent of the effects of its effects in terms of the result of operations, cash flows and growth prospects.