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Tag: Growth

Policybazaar for Business Highlights Key Risk Management Tactics at FIEO Event Focused on India’s Export Growth

Gurgaon, November 2024: The Federation of Indian Export Organisations (FIEO) recently hosted a high-profile event in Gurgaon to explore solutions for India’s export sector, in keeping with India’s $2 trillion milestone by 2030. The event brought together industry leaders, policymakers, and subject matter experts, including Dr. Ajay Sahai, Director General and CEO, FIEO, as the chief guest. Policybazaar for Business (PBFB) actively participated, sharing insights on how risk mitigation can support exporters in navigating global uncertainties.

Policybazaar for Business: Advocating Risk Management for Exporters

Policybazaar for Business participated in this event and provided perspective on safeguarding exporters’ operations in a volatile global trade landscape.

Arpita Suyal, Head – Marine Insurance at Policybazaar for Business, said, “Exporters face a wide range of risks be it transit-related damages or geopolitical instabilities or climate-induced disruptions. The idea is to enable the businesses to focus on expansion rather than apprehensions with user-friendly and almost intuitive marine insurance policies. At Policybazaar for Business we are committed to doing just that. Flexibility in insurance plans like Single Transit and Annual Open Covers to Sales Turnover Policy, allows exporters to choose based on their specific trade requirements. Then, one has to ensure that claims processes are straightforward and swift – that is the ultimate moment of truth for any customer. Real-time updates, buyer risk assessments, and proactive support help win over customer trust”. 

Suyal also shared detailed case studies that illustrated how Policybazaar for Business’ marine insurance solutions had mitigated substantial risks for exporters in scenarios involving shipment delays due to natural calamities and losses caused by unexpected geopolitical developments.

Attendees and key discussions
The event was attended by representatives from across sectors, including exporters, government officials, and insurance providers. Mr. Bharat from Marine Underwriting, Bajaj Allianz, shared his expertise on global instability and its impact on trade and insurance, covering factors like geopolitical shifts, climate change, and inflation.

Dr. Sahai’s keynote address underscored the importance of addressing labor and environmental concerns, enhancing R&D, and strengthening India’s shipping capabilities to remain competitive globally. He emphasized leveraging India’s position in the global supply chain and adopting a collaborative approach to overcome challenges.

Opportunities and a shared vision
While challenges remain, the discussions highlighted opportunities for India, such as the “China Plus One” strategy, tariff shifts, and aggressive free trade agreements. Initiatives like Rupee Invoicing, Plug-and-Play Facilities, and enhanced e-commerce exports are set to further drive growth.

Policybazaar for Business, with its tailored insurance offerings and commitment to exporters, is positioned as a key partner in this journey, ensuring businesses can operate with confidence in an unpredictable global market.

Kidzee Unveils Children’s Day TVC Celebrating Holistic Development of Students

18 November 2024 – Kidzee, India’s leading preschool chain, has launched a heartfelt 360-degree campaign celebrating Children’s Day. Alongside this, Kidzee has also unveiled Kidzee Elementary School (KES), catering to students from Classes 1 to 5. While the campaign celebrates the joy and spirit of children, KES reflects Kidzee’s commitment to fostering holistic student growth through innovative curricula and supportive learning environments.

The newly released commercial beautifully encapsulates Kidzee’s approach to learning, showcasing how children are encouraged to use their imagination, making education an enjoyable and engaging experience. This philosophy is central to Kidzee Elementary School, which offers education from pre-primary through to Grade 5, seamlessly aligning with the National Education Policy to foster early childhood care and comprehensive development.

At the heart of this new offering is the Pentemind approach, a comprehensive pedagogy and curriculum that integrates academic rigour with emotional intelligence, creativity, and curiosity. Accompanied by a user-friendly app, Pentemind focuses on experiential and inquiry-based learning, providing a strong foundation for lifelong learning while equipping children with a balanced mix of cognitive, social, emotional, and physical development. This approach embodies Kidzee’s commitment to nurturing resilient, empathetic, and intellectually empowered learners who thrive both academically and personally.

As part of the celebrations, Kidzee hosted a Rewards and Recognition (R&R) ceremony to honour the dedication of its educators and to showcase the transformative impact of its flagship Pinnacle programme. The highlight was the premiere of a captivating TVC that encapsulates how Pentemind nurtures children’s potential through its focus on experiential and inquiry-based learning, fostering holistic development and empowering young learners.

Manish Rastogi, CEO of Kidzee, remarked : “We’re delighted to launch this initiative, which embodies Kidzee’s vision of fostering learning spaces that celebrate individuality while equipping children with essential life skills. With KES and the transformative Pinnacle programme, we’re extending our vision to empower young learners with creativity, curiosity, and confidence.”

This 360 degree campaign and KES launch mark a step forward in redefining early and primary education in India, moving beyond traditional methods to create environments that nurture well-rounded individuals ready to embrace life’s challenges.

HealthCare Global Enterprises Ltd. Announces Strong Q2 & H1 FY25 Financial Performance

Bengaluru, 12th November 2024 HealthCare Global Enterprises Limited (“HCG”), the leader in India in speciality healthcare services focused on oncology and fertility today announced its unaudited financial results for the quarter (“Q2”) and half year ended September 30th 2024.

Highlights for quarter ended September 30th, 2024

  • Consolidated Income from Operations (“Revenue”) was INR 5,535 mn as compared to INR 4,870 mn in the corresponding quarter of the previous year, reflecting a year-on-year growth of 14%
  • Consolidated Profit Before Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Adjusted EBITDA”) was INR 1,042 mn, as compared to INR 864 mn in the corresponding quarter of the previous year, a growth of 21% year-on-year
  • Consolidated Profit Before Other Income, Depreciation and Amortization, Finance Costs, Exceptional Items and Taxes (“Reported EBITDA”), was INR 1,023 mn, as compared to INR 846 mn in the corresponding quarter of the previous year, a growth of 21% year-on-year
  • EBITDA for Established centers was INR 1,131 mn, a growth of 20% year-on-year
  • EBITDA from Emerging centers was INR 30 mn, as compared to INR 6 mn in the corresponding quarter of the previous year
  • Consolidated Profit after Taxes and Minority Interest (“PAT”) of INR 180 mn, as compared to INR 136 mn in the corresponding quarter of the previous year, growing by 33% year-on-year
Period ended Mar’24
Q2-FY25
Q2-FY24(1)
Growth
(y-o-y)
Income from Operations
5,535
 
4,869
 
14%
Adjusted EBITDA(2)
1,042
 
864
 
21%
Margin (%)
18.8%
17.8%
Reported EBITDA
1,023
 
846
 
21%
Margin (%)
18.5%
17.4%
PBT
277
 
179
 
54%
PBT margin %
5.0%
3.7%
PAT (3)
180
 
136
 
59%
PAT margin %
3.2%
2.8%
Earnings per share (EPS)
1.3
 
1.0
 

Business Updates for Q2FY24
  • Overall ARPOB stood at Rs. 45,188 vs. Rs. 42,058 in Q2FY24, a growth of 7.4%
  • Overall AOR stood at 65.6% vs. 65.8% in Q2FY24
  • RoCE (Q2FY25 Annualized)
      • RoCE for Established centers stood at 15.8% vs. 15.7% in Q2FY24. RoCE pre-corporate allocations stands at 19.6%
      • RoCE for Emerging centers stood at -10.7% vs. -13.2% in Q2FY24. RoCE pre-corporate allocations stands at -7.0%
  • Several regions delivered high double-digit revenue growth on YoY basis
        • Markets like Kolkata and Ongole grew by 66% and 46% YoY respectively
        • Nagpur, Nashik & Jaipur grew by 32%, 32% and 28% YoY respectively
  • HCC Hospital Ahmedabad, Phase III operationalized in Q2FY25
  • 5 units of HCG have been Accredited by NABH for the Digital Health Accreditation Standards  namely KR, DR, Nashik, Borivali and Kolkata
  • Aligning with asset light strategy, PET Machines on Pay-per-use across other 3 centers namely Vijayawada, Chennai and HCC operationalized in Q2FY25
  • Advance replacement of Cyber-knife at KR completed and became operationalized in Q2FY25
  • Replacement of LINAC at DR completed and new machine is operationalized

Commenting on the results, Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd.said, “I am proud to announce strong financial and operational performance for quarter ended September 2024, a true reflection of the dedication and expertise of our exceptional team, from doctors to support staff, who work tirelessly to provide high-quality care.

Having over decades of experience, we understand that cancer is a complex disease requiring a unique and focused approach to diagnosis and treatment. Our model centers on patient-centric, personalized care, ensuring that each patient receives treatment precisely tailored to their specific cancer type and stage of progression, and our outcomes are comparable to the best in the western world. With our network of hospitals spread across the country, we aim to provide this level of treatment to every patient battling cancer.

As we look to the future, HCG remains committed to pushing the boundaries of cancer treatment through the integration of advanced technologies and patient-centric innovations. With initiatives like Virtual OPD and centralized genomics, we aim to make high-quality cancer care more accessible and precise, empowering patients with cutting-edge diagnostics and treatment plans tailored to their unique needs.Our journey is made possible by the trust our stakeholders place in us, and we remain dedicated to advancing value-based cancer care across our growing network.”

Mr. Raj Gore, CEO HealthCare Global Enterprises Ltd., added, “HCG has reported its best ever quarterly revenues of Rs 554 crores with a robust growth of 14% and EBITDA margins standing strong at 18.8% compared to 17.8% in same period last year. Proforma revenue growth including Vizag acquisition stands at 20% with EBITDA margins of 19%. This growth is on the back of increased volumes across modalities leading to operational leverage playing out well. We are confident of continuing this upward trend with our emerging centers ramping up and contributing to the growth.

Emerging centers grew by 32% and with our Kolkata center being a major growth driver, growing by 66% on a year on year basis, turning profitable in the current year with 9.2% EBITDA % in Q2,and we expect the momentum to continue in coming quarters.

Our digital initiatives have significantly boosted our patient funnel, raising digital channel revenue to 14% of overall revenue in Q2, up from 4% last year. We aim to achieve 25% of revenue through digital platforms over the next 3-5 years. In addition, our strategic acquisition of MG Hospital in Vizag is progressing well and in line with our expectations. This acquisition has been instrumental in enhancing our footprint in the region, allowing us to further expand our services and strengthen our presence in one of the key markets for cancer care.

Going forward, we aim to increase our presence across the country while scaling operations at our existing centers with a view to provide best cancer care to the people of the country. Additionally, we plan to establish more Centers of Excellence in the coming years, modeled after our premier facilities in Bangalore and Ahmedabad, equipped with state-of-the-art medical infrastructure and top clinical talent. As we move forward, we remain focused on our mission to deliver exceptional care, drive innovation, and positively impact the lives of those we serve.”

Data Patterns Reports 6% Growth in PAT for H1

Chennai, November 11, 2024: The Board of Directors at Data Patterns (India) Limited (NSE: DATAPATTNS | BSE: 543428), a strategic Defense and Aerospace Electronics Systems provider, today approved the limited review financial results for the quarter ended September 30, 2024.
 
Performance Highlights
Particulars
Q2 – FY25
Q2 – FY24
Q1 – FY25
H1 – FY25
H1 – FY24
Total Income
103.06
119.15
116.39
219.45
220.45
Revenue from Operations
91.02
108.31
104.08
195.10
198.00
Operational EBIDTA
34.30
40.76
37.18
71.48
68.63
Profit Before Tax (PBT)
40.03
46.27
43.45
83.48
81.15
Profit After Tax (PAT)
30.28
33.79
32.79
63.07
59.62
Gross Margin
75.96%
69.01%
72.29%
74.00%
66.77%
EBIDTA Margin
37.68%
37.63%
35.72%
36.64%
34.66%
PAT Margin
33.27%
31.20%
31.50%
32.33%
30.11%
Q2 (2024 – 2025)
  • Total Revenue for Q2 decreased by 13.5% to Rs. 103.06 Cr in the quarter ended September 30, 2024 as compared to Rs. 119.15 Cr in the quarter ended September 30, 2023. The revenue from operations decreased by 16% in the corresponding period.
  • Gross Margin increased from 69% in quarter ended September 30, 2023 to 76% for the quarter ended September 30, 2024.
  • EBITDA Margin for the quarter ended September 30, 2024 remained at 38% as in the corresponding quarter ended September 30, 2023. EBITDA decreased by 16%.
  • PAT Margin improved to 33.27% for the quarter ended September 30, 2024 as compared to 31.20% for the quarter ended September 30, 2023. Profit After Tax (PAT) decreased 10.4% to Rs. 30.28 Cr in the quarter ended September 30, 2024 from Rs. 33.79 Cr in the quarter ended September 30, 2023.
 
H1 (2024 – 2025)
  • Company’s total Revenue for the half year ended September 30, 2024 was flat at Rs. 220 Cr. Revenue from operations decreased by 1.5% from Rs. 198.00 Cr to Rs. 195.10 Cr in the corresponding half year period.
  • Operational EBIDTA increased by 4% from INR 68.63 Cr for the half year ended September 30, 2023 to INR 71.48 Cr in the corresponding half year ended September 30, 2024. EBITDA Margin increased by 2% from 35% for half year ended September 30, 2023 to 37% in the corresponding period ended September 30, 2024.
  • Profit After Tax (PAT) increased by 6% from Rs. 59.62 Cr in the half year ended September 30, 2023 to Rs. 63.07 Cr in the half year ended September 30, 2024. PAT Margin also increased by 2.2% from 30.11% to 32.33% in the corresponding period.
From the CMD’s Desk
Commenting on the company’s performance, Mr. Srinivasagopalan Rangarajan, Chairman & Managing Director, Data Patterns (India) Limited said, “We are pleased to report healthy and improved margins during H1 of FY 2024-25 driven by our continued focus on operational efficiency and more favourable product mix. Revenue for the quarter was impacted due to deferment of delivery schedule by the customer, of completed products. Our order inflow has been slower than anticipated in the first half which we expect to pick up during the second half. We are committed to continued growth trajectory while maintaining the healthy revenue growth and profitability.”   

Empyrion Digital Boosts Growth with Strategic Expansion into Taiwan

SINGAPORENov. 4, 2024 Digital travel platform Agoda shares the top international destinations for solo travelers, ahead of Singles’ Day on November 11. Agoda’s solo travel ranking reveals TokyoBangkokSeoulOsaka, and Taipei to be the favorite cities for those traveling alone, based on Agoda’s accommodation booking data.

(PRNewsfoto/Agoda)

Singles’ Day originated in China and has grown into a global phenomenon where individuals celebrate their single status. It’s a day marked by self-gifting and travel, making it an ideal time for solo adventurers to explore new horizons. Agoda’s accommodation booking insights show a ranking of five cities that offer diverse attractions and lively cultures, making them perfect for independent-minded adventurers.

Andrew Smith, Senior Vice President, Supply at Agoda shared, “A solo trip is the ultimate gift you can give yourself. Exploring the world, stepping out of your comfort zone, making new friends and memories… there’s nothing else quite like it. Wherever your next solo adventure takes you, Agoda has great deals on accommodations, flights, and activities. And keep an eye out for special Single’s Day deals on Agoda.com/deals and in the Agoda app.”

For those looking to explore on their own, here’s why each destination stands out for single travelers:

  1. Tokyo: A city where the old meets the new. Solo travelers can explore ancient temples and then dive into the world of cutting-edge technology. Tokyo is perfect for those traveling alone because it’s safe, easy to navigate, and offers countless solo-friendly activities, from museums to quirky cafes.
  2. BangkokKnown for its lively streets and rich history, Bangkok is a treasure trove of sights and sounds. It’s ideal for solo travelers due to its welcoming atmosphere and the ease of meeting fellow travelers in hostels and on local tours. The city’s colorful street life ensures there’s always something to see and do.
  3. Seoul: With its dynamic cityscape and delicious food, Seoul is perfect for those seeking both excitement and relaxation. Solo travelers will find it easy to explore the city thanks to its efficient public transport and numerous solo dining options, making it a comfortable place to travel alone.
  4. Osaka: Famous for its friendly locals and tasty street food, Osaka welcomes single travelers with open arms. The city’s warm hospitality and numerous attractions, like Universal Studios Japan and Osaka Castle, make it a great place for solo adventurers to explore at their own pace.
  5. Taipei: A place where nature and city life blend seamlessly. From hiking trails to bustling night markets, Taipei offers a variety of activities that are perfect for solo travelers. The city’s safe environment and friendly locals make it easy to explore independently.

Agoda offers over 4.5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, all of which can be booked together. This makes it easy for single travelers to plan their trips to these exciting cities. For more details on planning your solo adventure, visit agoda.com, or download the Agoda app.

Rushil Decor Limited Plans Strong FY2026 Growth by Expanding Jumbo Laminate and Plywood Segments

AHMEDABAD, India, Nov. 4, 2024 – Rushil Decor Limited (BSE: 533470) (NSE: RUSHIL) announces a strong positive outlook for the upcoming financial year, with a focus on the strategic roll-out of its Jumbo Laminate Project and expansion into the plywood market. These projects reflect the company’s commitment to broadening its product offerings and exploring growth potential within new market segments.

Jumbo Laminate Project – Expanding Product Range and Market Reach:

The Jumbo Laminate Project in Gandhinagar is a pivotal initiative that will enable Rushil Decor to tap into the growing demand for thicker-format decorative laminates. Despite temporary delays in the project due to supply chain challenges and inclement weather, the Gandhinagar facility is now on track to commence operations by Q4 FY2025. This facility is projected to produce 2.8 million sheets annually, strengthening the company’s position in the expanding jumbo laminate market. In its first full year of operations, the Jumbo Laminate Plant is expected to generate INR 60 to 80 crore in revenue on a conservative basis, with an EBITDA margin of 14% to 16%. The project’s IRR is forecasted at 10% to 12%, with an equity IRR of 14% to 16%.

This new facility is not only an expansion of Rushil Decor’s production capabilities but also a testament to its vision of meeting market needs with quality products. The jumbo-sized laminates are aimed primarily at export markets, especially the USA and Europe. To ensure that this new product has an immediate foothold, the company has already started to set up sales and marketing networks. This includes appointing staff and distributors to drive market penetration across Europe and the USA. This strategic initiative is expected to enable Rushil Decor to capture the expanding market demand for jumbo laminate formats.

Strategic Entry into the Plywood Segment:

Rushil Decor’s foray into the plywood segment is a natural progression in its product diversification strategy. Although faced with minor delays, this joint venture is expected to generate revenues of INR 12 to 14 crore in its initial phase, scaling up to INR 45 to 50 crore in subsequent years with EBITDA margins estimated at 9% to 11%. Expansion into the plywood market is focused on offering a complete range of wood panel products to distributors, enabling opportunities for cross-selling across the product line and will focus solely on the Indian market.

Commenting on the outlook, Managing Director Rushil Thakkar said:

“With strategic expansions, the Jumbo Laminate Project’s imminent launch and growing international demand, Rushil Decor is positioned to deliver sustained growth and value creation in FY2026. Our focus on market-driven initiatives, expanding capacity and fostering long-term sustainability remains at the core of our mission. The company’s commitment to excellence in product quality, market expansion and sustainable growth serves as the foundation for its long-term commitment to stakeholders as it pursues new growth prospects in the dynamic MDF, Laminates and Plywood markets.”

Vesper Company Makes Strategic Investment in TAO Digital Solutions for Growth

TAO Digital Solutions Inc. (“TAO” or the “Company”), a leading provider of outcome-driven technology services and solutions headquartered in Santa Clara, today announced it has received a strategic growth investment from Vesper Company LLC (“Vesper”), a private investment firm that partners with founders and management teams to build enduring businesses. The investment will accelerate TAO’s global organic and inorganic growth.

TAO specializes in delivering measurable business outcomes through its expertise in product engineering, data monetization, and artificial intelligence (AI)-driven solutions. The Company’s suite of services spans product design, development, and delivery, with a focus on helping clients leverage data and automation to create business outcomes. TAO’s tailored AI-driven solutions empower companies to advance in competitive markets with services such as payment processing, industry-specific platform development, and cutting-edge managed services. With a team of more than 3,000 global employees, TAO services prominent clients in the automotive, technology, fintech, healthcare, eCommerce, and media sectors.

TAO has grown rapidly and is now at a strategic inflection point. Through this partnership with Vesper, TAO will be positioned to execute on key MCA opportunities, expand its global presence, and further invest in its library of AI models to differentiate its product

engineering and data services offerings to its customers. Vesper will provide aligned, long- term capital and active strategic and tactical support from its experienced investment team and deep network of industry advisors.

Rajkumar Velagapudi, CEO of TAO Digital Solutions, said:

“TAO’s mission has always been to drive significant value for our clients by delivering high- quality solutions centered on product engineering, data monetization, and industry-

specific AI models. Driven by our motto to ‘Transform, Automate, and Optimize,’ our focus on measurable outcomes through agile MVP launches, API development, and AI implementation has allowed us to serve clients with precision, driving business efficiency and innovation across industries. With Vesper’s support, we will expand into new markets, enhance our service offerings, and leverage our robust MCA pipeline to continue our growth journey. Vesper’s deep knowledge of the market and their team’s collaborative, partnership-driven approach to scaling businesses made them the perfect partner for TAO.”

Shamit Grover, Co-Managing Partner of Vesper Company, said:

“TAO has built a strong platform with data-centric solutions, innovative product development frameworks, and proven AI expertise that continue to enable it to drive needle-moving results for its clients. We have spent considerable time evaluating

opportunities in the $1.4 trillion IT services industry and were immediately attracted to TAO because of its incredible track record and strong leadership team. We are confident that the Company’s distinct competitive advantages, full-stack global delivery capabilities, and enterprise customer base position it for continued success as it capitalizes on the global opportunity set ahead. We are excited to be partnering with Raj and the experienced team at TAO in this next chapter of the Company’s growth story.”

Strong Q2 Performance: NDTV Reports 17% Revenue Increase

NDTV today announced stellar Q2 results, achieving a 17% year-on-year (YoY) revenue growth, underscoring the company’s consistent momentum across key business verticals. This impressive performance is driven by NDTV’s enhanced content strategy, an expanding portfolio of intellectual properties (IPs), and strategic digital initiatives. NDTV’s digital presence continues to expand at an accelerated pace, reflecting its commitment to delivering high-quality news across languages. In August 2024, the Hindi platform saw a 24% rise in traffic, while the English platform grew by 41% compared to August 2023. Further
cementing its leadership in the digital space, NDTV’s English YouTube channel captured the highest viewership in the English news category in September, outpacing its competitors. This surge in audience engagement highlights NDTV’s ability to resonate with modern consumers through insightful journalism and innovative formats across platforms.

Subsequent to the Quarter, NDTV also hosted one of its biggest event IPs, NDTV World Summit 2024 – The India Century, with the Hon’ble Prime Minister, Narendra Modi delivering the inaugural address, emphasizing its importance as a platform for global collaboration, leadership, and innovation. This marquee summit brought together some of the world’s most influential leaders and visionaries to discuss transformative ideas and shape the future across industries.

Commenting on the results, Sanjay Pugalia, NDTV’s Whole-time Director and Editor-in-Chief said, “Our exceptional Q2 performance underscores our commitment to delivering insightful and actionable news to our audiences worldwide. As we continue to grow and innovate, an event like NDTV World Summit, reflects our ambition to play a pivotal role in shaping conversations that matter on both national and global stages”.

Consistent Performance: MakeMyTrip Achieves 26.5% Revenue Increase in Q2 FY25

National, October 24, 2024 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2024 as attached herewith and available at  and on our website .

Business & Financial Highlights | Q2 FY25
 

Q2 FY25

($ Million)

Q2 FY24

($ Million)

YoY Change (Constant

Currency)

Gross Bookings 2,257.2 1,839.7 24.3%
Revenue as per IFRS 211.0 168.7 26.5%
Adjusted Margin
Air Ticketing 96.0 80.3 21.1%
Hotels and Packages 90.7 75.7 21.4%
Bus Ticketing 27.1 21.8 25.6%
Others 16.4 11.0 51.0%
Results from Operating Activities 26.1 6.7
Adjusted Operating Profit (also

referred to as Adjusted EBIT)

37.5 28.2
Profit for the period 17.9 2.0

Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,

“We are pleased to have achieved sustained growth in a seasonally slow quarter. Our unwavering focus on innovation, powered by advanced technology to deliver a differentiated customer experience, has been a key driver of this progress. We continue to be positive about the long-term outlook of India’s travel and tourism market and stay committed to further accelerating efforts to expand our supply partnerships and deepen engagement with our customers.”