MakeMyTrip (NASDAQ:MMYT) Announces Quarterly Earnings Results

MakeMyTrip (NASDAQ:MMYT) released its earnings results on Monday. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.03 by $0.44, FiscalAI reports. The firm had revenue of $235.16 million during the quarter, compared to analysts’ expectations of $267.41 million. MakeMyTrip had a net margin of 3.23% and a negative return on equity of 632.52%.

Here are the key takeaways from MakeMyTrip’s conference call:

• Strong overall growth: Q2 gross bookings rose 20.9% year over year in constant currency to $2.7 billion, while adjusted operating profit increased 13.8% to $46.2 million. Non-air businesses reached 63.2% of the mix, up from 61.5% a year earlier.
• Air travel remained a headwind: Domestic and international departures declined 7% and 4%, respectively, amid constrained capacity, higher fares, geopolitical pressures and elevated fuel costs. MakeMyTrip maintained more than 30% domestic air-ticketing share, but adjusted operating margin fell to 1.7% of gross bookings from 1.8% because payment-processing costs rose with airfares.
• Hotels and ground transport offset weaker air demand: Hotels and packages adjusted margin grew 20.2%, domestic hotel room nights increased 20.4%, and bus gross bookings rose 29.4% year over year. Intercity cabs also grew more than 40%, although from a small base.
• AI adoption showed encouraging early results: Myra handled more than 90,000 daily conversations and assisted with over 3,000 bookings per day, with users converting at about 1.7 times the rate of non-users. Management said semantic hotel search produced conversion rates roughly 24% above filter-led search, while Myra autonomously resolved more than 53% of certain post-booking queries.
• Balance sheet remained strong, but India IPO timing is uncertain: Cash and equivalents totaled $815 million, and the company repurchased $17.2 million of shares during the quarter. The proposed MakeMyTrip India IPO remains subject to regulatory approvals and market conditions, with no change to management’s previously stated approach.

MakeMyTrip Trading Down 2.1%

Shares of MMYT stock opened at $41.20 on Tuesday. The company has a market cap of $3.88 billion, a PE ratio of 343.33 and a beta of 1.07. The company’s fifty day simple moving average is $50.55 and its 200-day simple moving average is $51.96. MakeMyTrip has a 52 week low of $32.67 and a 52 week high of $92.09.

Key MakeMyTrip News

Here are the key news stories impacting MakeMyTrip this week:

• Positive Sentiment: MakeMyTrip reported quarterly EPS of $0.47, well above the $0.03 analyst consensus. Adjusted earnings and revenue increased year over year, supporting the view that profitability is returning. MakeMyTrip’s Fiscal Q2 Adjusted Earnings, Revenue Rise
• Positive Sentiment: Management highlighted strong growth in non-air businesses, including hotels and other travel services, which could improve the company’s revenue mix and reduce reliance on air-ticketing volumes. MakeMyTrip Earnings Call Highlights Strong Non-Air Growth
• Positive Sentiment: The initial market reaction was favorable because profit improved despite the revenue shortfall, reinforcing the bull case centered on operating leverage and a return to sustained profitability. MakeMyTrip stock rises on profit view despite revenue miss
• Neutral Sentiment: Analysts and investors are focused on whether the revenue miss was primarily a temporary currency effect or evidence of softer underlying demand. The earnings call and company filings provide additional detail on the outlook. MakeMyTrip Q2 2027 revenue miss analysis
• Negative Sentiment: Revenue of $235.16 million missed the $267.41 million consensus estimate. The shortfall, attributed largely to currency effects in some coverage, remains a concern because it contrasts with the strong earnings beat. MakeMyTrip second-quarter results
• Negative Sentiment: At roughly 343 times earnings, MMYT remains highly valued, while its shares are below both the 50-day and 200-day moving averages. That valuation leaves the stock vulnerable to selling when growth or revenue expectations disappoint.

Wall Street Analyst Weigh In

MMYT has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday. Wall Street Zen raised shares of MakeMyTrip from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research lowered shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings raised shares of MakeMyTrip from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Finally, HSBC began coverage on shares of MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 price target on the stock. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.50.

About MakeMyTrip

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.