GURUGRAM, India – MakeMyTrip Limited (NASDAQ: MMYT), India’s premier travel services company, reported a robust first quarter, surpassing analyst expectations with a significant increase in earnings and revenue.
The company’s adjusted earnings per share (EPS) for the quarter were $0.39, a substantial $0.14 higher than the analyst estimate of $0.25. Revenue also exceeded forecasts, coming in at $254.52 million against the consensus estimate of $243.22 million. Following the announcement, MakeMyTrip’s stock price rose by 3.7%.
The company’s success in the first quarter is attributed to a 29.4% year-over-year (YoY) increase in revenue, with a notable 31.4% rise in constant currency terms. This growth was driven by a 25.4% increase in air ticketing revenue, a 27.5% rise in hotels and packages, a 17.2% improvement in bus ticketing, and a remarkable 95.2% surge in other revenue segments.
The adjusted operating profit also saw a significant jump, rising by 29.9% to $39.1 million, while…