MakeMyTrip Q2 tops Wall Street view
MakeMyTrip, the largest online travel booking company in India, reported quarterly results that beat analysts' expectations helped by higher sales in its air ticketing business.
The company, which went public a little more than a year ago, reported second-quarter earnings of $74,240 or roughly break even on a per share basis, compared with a loss of $1.8 million, or 7 cents a share a year ago.
Excluding items, it earned 4 cents a share. Analysts, on average, were expecting earnings of 3 cents a share.
Total revenue jumped 84 percent to $43.8 million. Revenue after service costs rose to $21.3 million, beating analysts' expectations of $18.7 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $31 on Monday on Nasdaq.
(Reporting by Fareha Khan in Bangalore; Editing by Viraj Nair)
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