MakeMyTrip Registers 70.5% Sequential Revenue Growth In Q3

• MakeMyTrip Ltd (NASDAQ: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.