RedBus Eyes 35 Percent Revenues from Overseas Operations
Bus ticketing platform RedBus is planning to expand its bus ticketing business globally and aims to garner 35 percent revenue of this segment from overseas operations over the next 3-4 years, a top company official said on Wednesday.
The company, which is part of the Nasdaq-listed MakeMyTrip group, currently garners just around 10 percent of its bus ticketing revenues from five international locations Singapore, Malaysia, Indonesia, Peru, and Colombia.
redBus's overall annual revenues from the bus ticketing vertical, including India and international operations, stood at around USD 85 million.
"We are looking to scale up international business and expect around 35 per cent of the revenues to accrue from overseas locations in the next 3-4 years," redBus CEO Prakash Sangam told PTI....
