MakeMyTrip CEO Highlights Surge in Travel Demand as Q4 Earnings Exceed Expectations

Benzinga05-15

Indian online travel company MakeMyTrip Limited (NASDAQ:MMYT) reported fiscal fourth-quarter 2024 adjusted revenue of $212.53 million, up from $166.11 million a year ago, beating the analyst consensus estimate of $197.42 million.

Adjusted EPS of $0.38 beat the analyst consensus estimate of $0.20.

Revenues benefited from sustained elevated travel demand in India for domestic and international outbound travel.

In constant currencies, revenue from the air ticketing business grew by 42.9% Y/Y in CC to $55.08 million, the hotels and packages business rose 30.0% in CC to $105.48 million, bus ticketing business increased by 27.1% Y/Y in CC to $23.8 million, and others business climbed 117.6% in CC to $18.53 million.

Gross bookings surged 23.0% Y/Y to $2.04 billion. Adjusted operating profit improved 70.4% Y/Y to $32.43 million.

MakeMyTrip held $607.8 million in cash and equivalents as of March-end.

CEO Rajesh Magow said, “Indians are embracing the call to travel with a newfound enthusiasm with both leisure and business-related travel demand in India having crossed pre-pandemic levels."

Makemytrip stock gained 194% in the last 12 months. Investors can gain exposure to the stock via Exchange Traded Concepts Trust India Internet & Ecommerce ETF (NYSE:INQQ) and Amplify ETF Trust Amplify Travel Tech ETF (NYSE:AWAY).

Price Action: MMYT shares are trading higher by 1.6% at $78.27 at the last check Wednesday.

Image Via Shutterstock

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Investors can gain exposure to the stock via <strong><a href=\"https://laohu8.com/S/BRGL\">Exchange Traded Concepts Trust</a> India Internet &amp; Ecommerce ETF</strong> (NYSE:INQQ) and <strong>Amplify ETF Trust <a href=\"https://laohu8.com/S/AWAY\">Amplify Travel Tech ETF</a></strong> (NYSE:AWAY).</p>\n<p><strong>Price Action:</strong> MMYT shares are trading higher by 1.6% at $78.27 at the last check Wednesday.</p>\n<p><em>Image Via Shutterstock</em></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MakeMyTrip CEO Highlights Surge in Travel Demand as Q4 Earnings Exceed Expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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