MakeMyTrip Beats on EPS but Revenue Misses by $39M as Shares Sink 49% YTD
MMYT sits 29% above its 52-week low of $32.67.
Summary
Adjusted EPS came in at 47 cents versus a 24 cent consensus, but revenue of $235.16 million rose only 2.5% and fell well short of the $274.23 million analysts expected. IFRS net income was just $1.84 million, or 2 cents per share, so the headline beat is largely non-GAAP. This follows the 6-K filed this morning with the same $235.2 million revenue and $1.8 million profit figures. The stock has lost 10.8% this quarter and 48.7% year to date, and analysts have cut earnings estimates by roughly 44.8% over three months with two negative revisions in the last 30 days. The revenue shortfall against a still-'buy' consensus and a $75 median price target is the number that matters here.
At the time of this announcement, MMYT was trading at $42.09 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $4B. The 52-week trading range was $32.67 to $92.09. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.