MakeMyTrip Posts Wider Loss In Q2; Revenue Up 30.2% - Quick Facts

(RTTNews) - MakeMyTrip Limited (MMYT), India's leading online travel company, reported a second-quarter loss of $39.4 million compared to a loss of $12.2 million in the quarter ended September 30, 2015. Loss per share was $0.95 compared to a loss per share of $0.29. Excluding items, net loss was $25.3 million compared to a loss of $7.2 million in the quarter ended September 30, 2015. Adjusted loss per share was $0.61 compared to a loss per share of $0.17. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.66 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter revenue was $83.1 million, an increase of 26.9% (an increase of 30.2% in constant currency) over revenue of $65.5 million in the quarter ended September 30, 2015. Revenue Less Service Costs was $53.20 million compared to $36.25 million, primarily as a result of a 69.0% (73.4% in constant currency) increase in hotels and packages revenue less service costs and a 29.2% (33.2% in constant currency) increase in air ticketing revenue less service costs. Analysts expected revenue of $50.67 million, for the quarter.

The company noted that its prior guidance is no longer relevant and the company expects to resume providing guidance after the proposed transaction with the ibibo Group is completed.