MakeMyTrip (MMYT) Q3 Non-GAAP EPS Surpasses Expectations at $0.52
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4h ago
0mins
Source: seekingalpha
- Earnings Beat: MakeMyTrip reported a Q3 Non-GAAP EPS of $0.52, exceeding expectations by $0.10, indicating ongoing improvements in profitability that bolster investor confidence.
- Revenue Miss: The company generated $295.69 million in revenue for Q3, a 10.6% year-over-year increase, yet fell short of expectations by $10.4 million, suggesting intensified market competition may be impacting revenue growth.
- Significant Gross Bookings Growth: Gross bookings rose by 11.8% year-over-year to $2.7845 billion in Q3, reflecting the company's ability to capture market share amid a recovering travel demand, thereby strengthening its market position.
- Adjusted Margins on the Rise: Adjusted margins across all business lines increased, with air ticketing margins up 20.4% to $107.9 million and hotel and packages margins up 14.6% to $133.2 million, demonstrating the company's success in cost control and service optimization.
Analyst Views on MMYT
Wall Street analysts forecast MMYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MMYT is 118.00 USD with a low forecast of 113.00 USD and a high forecast of 123.00 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.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 74.590
Low
113.00
Averages
118.00
High
123.00
Current: 74.590
Low
113.00
Averages
118.00
High
123.00
About MMYT
MakeMyTrip Limited is an online travel provider. The Company's segments include Air Ticketing, Hotels and Packages, and Bus Ticketing. The Air ticketing segment provides the facility to book domestic and international air tickets through Internet-based platforms. The Hotels and packages segment provides holiday packages and hotel reservations through Internet-based platforms, call centers, and franchise stores. The Bus ticketing segment provides the facility to book domestic and international bus tickets through Internet-based platforms. Through its primary websites, such as www.makemytrip.com, www.goibibo.com, and www.redbus.in, and mobile platforms, travelers can research, plan and book a range of travel services and products in India, as well as overseas. The Company's services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements. It also provides an inter-city car rental service.
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.
