MakeMyTrip Q2 Loss Widens; Revenue Up 84% - Quick Facts

(RTTNews) - MakeMyTrip Limited (MMYT), India-based online travel company, reported second-quarter loss of $62.32 million, wider than loss of $39.4 million in the year-ago period. However, loss per share narrowed to $0.61 from $0.95 in the prior-year quarter on higher number of weighted average number of shares in the latest quarter.

Excluding items, adjusted net loss was $45.19 million or $0.45 per share, compared to adjusted loss of $25.31 million or $0.61 per share in the same period last year.

On average, three analysts polled by Thomson Reuters expected the company to report loss per share of $0.50 for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 84 percent to $152.92 million from $83.1 million in the year-ago period. revenue rose 79.4 percent in constant currency.

Revenue less service costs rose to $139.19 million from $53.20 million in the year-ago quarter. Analysts expected revenue of $115.18 million for the quarter.

The increase in revenue less service costs was primarily as a result of a 185.7% (180.4% in constant currency) increase in the company's hotels and packages revenue less service costs, a 99.7% (94.7% in constant currency) increase in air ticketing revenue less service costs and increase in other revenue less service costs including the impact of consolidation of the ibibo Group acquired in January 31, 2017.