News Roundup: MMT Acquires S’pore based Travel Firm, Microsoft Launches Office Web Apps in India

Microsoft Launches Office Web Apps in India

Microsoft has officially launched its web apps office suite in India, that enables businesses to use the office suite online. All you need is a Windows Live ID to get started.

MakeMyTrip has acquired majority stake in Luxury Tours & Travel Pte Limited.

Subject to the terms of the SPA, MakeMyTrip Limited will acquire from the existing shareholders, on the first closing date, an aggregate number of ordinary shares representing approximately 79% of LTT’s fully diluted share capital for an initial purchase cash consideration of approximately US$3 million. MakeMyTrip Limited will also invest approximately US$0.75 million in addition, in one or more tranches until June 2012, for the subscription of new equity shares to be issued by LTT.

Financial Highlights for Q3http://investors.makemytrip.com/releasedetail.cfm?ReleaseID=548935

  • Gross bookings for Air ticketing and Hotels and packages combined increased by $87.2 million to $210.6 million, representing growth of 70.7% year over year.
  • Number of Transactions for Air ticketing and Hotels and packages combined increased by 58.6% year over year.
  • Revenue increased by 56.7% year over year to $35.8 million. Revenue less service cost(2) increased by $6.4 million to $17.3 million, representing a growth of 59.2% year over year.
  • Net revenue margin for Air ticketing and Hotels and packages combined remained steady at 7.8%.
  • Results from operating activities improved to $1.4 million, an increase of $0.8 million from the prior year’s fiscal third quarter. Adjusted operating profit improved to $1.6 million versus $0.7 million in the prior year’s fiscal third quarter.
  • Profit for the period was $1.6 million, versus $0.6 million in the prior year’s fiscal third quarter. Adjusted net income(5) was $1.8 million, representing an increase of $1.0 million from the prior year’s fiscal third quarter.

Microsoft launches Microsoft Dynamics CRM Online Cloud Service in India

Microsoft India recently announced the launch of Microsoft Dynamics CRM Online, the cloud version of the new Microsoft Dynamics CRM 2011 release that delivers new levels of productivity to sales, service and marketing organizations. Specifically to meet the requirements of the local customers in India, ‘Hindi’ version of the application has also been introduced. The on-premises and partner-hosted versions of Microsoft Dynamics CRM 2011 will be globally available on Feb. 28, 2011.

Daburveda

Dabur has launched an online shopping portal www.daburuveda.com, for its beauty products range. The portal will be the online gateway for consumers to know, understand, buy and gift the exclusive DaburUveda range of skincare products.

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