| First Published Jan 24, 2025, 9:58 AM IST | Last Updated Jan 24, 2025, 9:58 AM IST
Shares of MakeMyTrip ($MMYT) jumped 6% on Thursday as the online travel company reported strong revenue jump for its third-quarter earnings compared to last year but missed earnings estimates, with retail sentiment staying bearish.
MakeMyTrip posted diluted earnings per share of $0.23, below the consensus estimate that Wall Street analysts expected at $0.27, according to Stocktwits data.
However, Its revenues stood at $267.4 million, jumping 24.8% year-over-year, beating consensus estimates of $268.1 million.
The increase in revenue was primarily due to strong travel demand in India for both domestic and international outbound travel in the quarter, the company said. The revenue increase was led by its hotels and packages business which saw an increase of 23.4% over the last quarter to $121.9 million.
As at December 31, the company’s cash and cash equivalents and term deposits stood at $705.5…
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