MakeMyTrip Limited (NASDAQ:MMYT), a prominent player in the online travel space with a market capitalization of $11.32 billion, announced its unaudited financial results for the third quarter ended December 31, 2024, today. The company, which has demonstrated impressive growth with a 106.71% stock return over the past year, disclosed these details through an earnings release attached to a Form 6-K filed with the Securities and Exchange Commission.
According to InvestingPro analysis, the company maintains a "GREAT" financial health score, supported by strong fundamentals and market performance.
The earnings report, dated January 23, 2025, provides a snapshot of the company's financial performance for the past quarter. As a foreign private issuer, MakeMyTrip adheres to SEC regulations by filing annual reports under Form 20-F.
Operating under the Transportation Services industry, MakeMyTrip has its principal executive office in Gurugram, India. The company has demonstrated robust financial performance with a 28.95% revenue growth and an impressive 53.95% gross profit margin in the last twelve months. The company's latest financial results could be an indicator of its current financial health and performance, which are often of significant interest to investors and market analysts.
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The disclosure of the unaudited financial results is a regular requirement for publicly traded companies, ensuring transparency and providing stakeholders with essential information on the company's financial activities during the quarter. Notable among these metrics is the company's strong liquidity position, with a current ratio of 2.82, indicating robust short-term financial stability.
Investors and interested parties can find the detailed financial results in the earnings release, which is publicly available as part of the company's SEC filings. The release includes financial statements, key performance indicators, and other relevant financial information.
The company's CEO, Rajesh Magow, signed off on the report, fulfilling the company's obligation under the Securities Exchange Act of 1934. The report's availability allows shareholders and the public to assess MakeMyTrip's performance as it navigates the competitive landscape of the travel industry.
In other recent news, MakeMyTrip has been drawing significant attention from analysts due to its strong financial results and promising growth prospects.
Goldman Sachs maintained a Buy rating on the company's shares, forecasting improved margins by fiscal year 2025. The firm's analyst, Manish Adukia, raised the price target to $120, reflecting a positive outlook for the online travel company. Adukia anticipates robust earnings growth driven by strong underlying travel demand and operational efficiency.
Similarly, Macquarie adjusted its price target for MakeMyTrip to $105, maintaining a neutral rating. The firm highlighted positive structural tailwinds expected to drive the company's revenue growth. BofA Securities also adjusted its price target upwards to $130, maintaining a Buy rating, despite a minor downward revision in the forecast for fiscal year 2025 earnings per share. JPMorgan maintained an Overweight rating on MakeMyTrip, emphasizing the company's robust growth strategy and market performance.
MakeMyTrip reported a 22% year-over-year top-line growth in recent quarters, with revenues increasing due to a 20% growth in both flights and hotels segment revenues. The second-quarter EBITDA was reported at $32.7 million, and net income was recorded at $18 million. Additionally, the company announced a share buyback program of $150 million, providing a safety net for the stock price.
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