MakeMyTrip Limited (MMYT) Posts Mixed Q3 Results

MakeMyTrip Limited (NASDAQ: MMYT) reported Q3 EPS of ($0.36), $0.27 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $82 million versus the consensus estimate of $36.88 million.

Fiscal Year 2015-16 Outlook

We are pleased with the robust transaction growth delivered in Q3. In Q4, we would leverage our strong balance sheet to significantly accelerate marketing investments in the key India Standalone hotels category to drive further online penetration while leveraging the growing population of smartphone users to grow our market share in this segment.

We are therefore initiating an upward increase in our transaction guidance for the rest of fiscal year 2016 as follows:

• India standalone transaction growth of 325%—375%, up from 175%—200%, previously;
• Hotels and Packages transaction growth, excluding ETB, of 175%—200%, up from 100%—110% previously.

We are also narrowing the FY2016 constant currency revenue growth guidance to 10% to 12%.

For earnings history and earnings-related data on MakeMyTrip Limited (MMYT) click here.

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