MakeMyTrip Posts Narrower Operating Loss In Q1; Adj. Revenue Up 21.0%

(RTTNews) - MakeMyTrip Limited (MMYT), India's leading online travel company, said it continued to drive strong business growth during the peak travel quarter, despite softer domestic travel demand that was driven by a challenging macroeconomic and supply environment. The company narrowed its first-quarter operating losses year over year.

Adjusted operating loss was $29.2 million compared to a loss of $32.8 million, previous year. Adjusted loss per share narrowed to $0.27 from a loss of $0.37. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.26, for the quarter. Analysts' estimates typically exclude special items.

First-quarter adjusted revenue increased 21.0% to $198.5 million. Gross bookings increased 24.0% to $1.7 billion.