Makemytrip Ltd Lowers FY 2013 Revenue Guidance

Makemytrip Ltd announced that for fiscal 2013, it expects revenue less service costs growth guidance in the range of 13% to 16% on a constant currency basis. This growth guidance is based on average actual Indian Rupee to U.S. Dollar exchange rate of 48.23 for full fiscal year 2012. On a U.S. dollar basis, the Company is updating revenue less service cost guidance in the range of $89-$91 million solely to reflect the current 3Q13 average exchange rate of INR54 to a U.S. Dollar. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $100 million for fiscal 2013.