MakeMyTrip Q1 Beats Wall Street View
MakeMyTrip, the largest online travel booking company in India which went public a year ago, reported market-beating quarterly results on a 58 percent jump in hotels and packages revenue. For the first quarter ended June 30, the company reported earnings of $750,916 or 2 cents a share, compared with $1.3 million, or 5 cents a share a year ago.
Excluding items, it earned 4 cents a share.
Analysts on average were expecting earnings of 3 cents a share, according to Thomson Reuters I/B/E/S.
Revenue rose 54 percent to $52 million versus analysts’ expectations of $20.4 million. Revenue from hotels and packages business rose to $36.6 million.
Shares of the company closed at $17.75 Tuesday on Nasdaq.