MakeMyTrip (MMYT) Shares Decline Even as Market Rises: Key Points to Consider
Current Stock Performance: MakeMyTrip (MMYT) shares fell 2.64% to $100.45, underperforming the S&P 500's gain of 0.32%, but have increased by 11.45% over the past month.
Upcoming Financial Results: The company is expected to report earnings of $0.45 per share, reflecting a 25% year-over-year growth, with projected quarterly revenue of $264.28 million, up 25.26%.
Analyst Estimates and Rankings: The Zacks Consensus Estimates predict annual earnings of $2.16 per share and revenue of $1.19 billion, with MakeMyTrip currently holding a Zacks Rank of #3 (Hold).
Valuation Insights: MakeMyTrip's Forward P/E ratio stands at 47.76, significantly higher than the industry average of 14.88, indicating a premium valuation compared to its peers in the Internet - Delivery Services sector.
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MakeMyTrip Reports 73.1% Profit Decline in Q3
- Significant Profit Decline: MakeMyTrip's Q3 profit plummeted by 73.1% to $7.3 million, or $0.07 per share, primarily due to soaring net finance costs that surged to $27.7 million from $4.8 million last year, indicating substantial financial pressure on the company.
- Adjusted Net Profit Improvement: Despite the overall profit decline, adjusted net profit rose to $50.7 million, or $0.52 per share, up $4.7 million from $46.0 million, or $0.39 per share, last year, showcasing enhanced profitability in specific areas of the business.
- Revenue Growth: Q3 revenue increased by 10.6% to $295.7 million, driven by strong travel demand in India for both domestic and international outbound travel, indicating potential market recovery and the company's competitive position in the travel sector.
- Stock Price Volatility: Following the earnings announcement, MakeMyTrip's stock fell 5.65% to $62.60, but slightly rebounded to $62.66 in pre-market trading, reflecting market caution regarding the company's future performance.

Citi Cuts MakeMyTrip Price Target to $96 Amid Revenue Miss
- Price Target Adjustment: Citi has cut MakeMyTrip's price target from $108 to $96 while maintaining a 'Buy' rating, indicating confidence in the company's future growth despite a cautious outlook on current performance.
- Revenue Miss: MakeMyTrip reported quarterly revenue of $295.7 million, falling short of analyst expectations of $310 million, suggesting weak market demand that could impact future investor confidence.
- Earnings Improvement: Despite the revenue miss, the company reported earnings per share of $0.07, exceeding the expected $0.01, indicating some success in cost control that may lay the groundwork for future profit growth.
- Market Reaction: MakeMyTrip's shares fell over 12% on Wednesday in response to the price target cuts, with a cumulative decline of over 34% in the past year, reflecting investor concerns about its long-term prospects.









