MakeMyTrip Registers 70.5% Sequential Revenue Growth In Q3

MakeMyTrip Ltd MMYT reported third-quarter FY22 sales growth of 102.5% Y/Y and 70.5% Q/Q, to $115.02 million, beating the analyst consensus of $112.35 million.
Gross bookings for the quarter increased 93.0% Y/Y and 57.4% Q/Q.
Adjusted EPS of $0.12 beat the analyst consensus of $(0.01).
Revenue from Air ticketing increased 50.6% Y/Y, Hotels & Packages rose 175.6%, and Bus Ticketing grew 45.3%.
The company's loss widened to $(9.04) million from $(3.5) million a year ago.
The company held $486.1 million in cash and equivalents as of December 31, 2021.
"While the current Omicron wave has impacted consumer sentiment for leisure travel from January 2022, we continue to observe demand for domestic essential travel," said Deep Kalra, Group Executive Chairman.
Price Action: MMYT shares closed lower by 3.75% at $25.17 on Monday.