MakeMyTrip CEO Highlights Surge in Travel Demand as Q4 Earnings Exceed Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
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Source: Benzinga
- Financial Performance: MakeMyTrip reported fiscal Q4 2024 revenue of $212.53 million, beating estimates, with adjusted EPS of $0.38 surpassing expectations.
- Revenue Growth: The company saw revenue growth in various segments, including air ticketing, hotels and packages, bus ticketing, and others, driven by increased travel demand in India.
- Bookings and Profit: Gross bookings surged 23.0% year-over-year to $2.04 billion, while adjusted operating profit improved by 70.4% year-over-year to $32.43 million.
- Cash Reserves: MakeMyTrip held $607.8 million in cash and equivalents as of March-end.
- Market Performance: Makemytrip stock gained 194% in the last 12 months, and investors can access the stock through specific ETFs like INQQ and AWAY.
Analyst Views on INQQ
Wall Street analysts forecast INQQ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for INQQ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
