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Covid-19 second wave threatens further slowdown for MakeMyTrip

4 hours ago 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.

Karnataka releases funds to pay salaries of RTC employees, but with riders

Karnataka releases funds to pay salaries of RTC employees, but with riders Updated: Updated: Employees who participated in 15 days strike in April will get only half month salary Share Article AAA Difficulties galore: Passengers are having a tough time due to the indefinite strike by the RTC employees. K. MURALI KUMAR   Employees who participated in 15 days strike in April will get only half month salary The State government has released funds to pay the salaries of employees of the Road Transport Corporations (RTCs), but with many riders. The government has released a total of ₹325 crore to pay salaries for April and May. The order issued on Monday states that ₹81.25 crore has been released for April and ₹243.75 crore for May.

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