Stock Track | MakeMyTrip Plummets 7.90% Intraday After Q3 Revenue Misses Estimates

Stock Track01-22 00:28

MakeMyTrip's stock fell sharply by 7.90% during intraday trading on Wednesday, following the release of its fiscal Q3 earnings report. The decline reflects investor disappointment as the company's revenue fell short of analyst expectations.

The online travel platform reported revenue of $295.7 million for the quarter, missing the FactSet consensus estimate of $304.1 million. This revenue miss overshadowed other positive metrics, including an 11.8% year-over-year increase in gross bookings to $2.78 billion and an adjusted EPS of $0.52.

While the company demonstrated growth in key segments like air ticketing and hotels, the weaker-than-expected top-line performance appears to have driven the selloff. Investors are likely reacting to the revenue shortfall, despite the company's otherwise solid operational performance.

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