MakeMyTrip Q4 Results: Will strong bookings growth push share price higher?
Key Insights from MakeMyTrip Q4 Results:
- Gross bookings in the fourth quarter were at $1,673.9 million as compared to $1,012.3 million
- MMT commented that demand continues to be robust despite macroeconomic headwinds
- MMT reported a profit of $5.4 million in Jan-March 2023, compared to a loss of $4.1 million in Q4FY22.
- MakeMyTrip did not declare any dividend during the quarter.
- Hotels and travel packages formed the majority of MMT earnings.
MakeMyTrip Share Price and MakeMyTrip Results
MakeMyTrip share prices rose about 2% in premarket trading on May 17, 2023, following robust results. The company reported its highest ever gross bookings on record!
The robust results come at a time when overall travel demand seemed to have taken a backseat due to higher inflation levels and rising recession fears which led consumers to travel less for leisure and cut back on expenses.
Meanwhile, travel packages and hotels account for the majority of MMT revenues and also helped the firm hit its highest ever bookings during a quarter.
MakeMyTrip Share Historical Performance
|1 Day||1 Month||1 Year||5 Year|
(Data as on May 17, 2023)
Decoding MakeMyTrip Q4 earnings
The company reported a 67% rise in Q4 revenues to $148 million, supported by higher demand for travel and hotel bookings during the first three months ending March 2023.
|Revenue||$148.2 million||$88.6 million||67%|
The travel booking portal reported a profit of $5.4 million, compared to a loss reported in the corresponding quarter previous year. Strong bookings growth and an income tax benefit of nearly $5 million helped the company report strong profit.
|Net Profit||$5.4 million||-$4.1 million||231%|
Gross bookings in the fourth quarter were at $1,673.9 million as compared to $1,012.3 million, a 65% rise from the previous year. Airfare and Hotel bookings accounted for majority of the firm's total bookings.
MakeMyTrip did not declare during the quarter.
This is not investment advice. Investments in the securities market are subject to market risk, read all the related documents carefully before investing. Past performance is not indicative of future returns.