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MMYT - MakeMyTrip: Gross Bookings Growth Encouraging But Pressure On Earnings Remain
MakeMyTrip Limited
2023-05-16 21:36:58 ET
Summary
The Indian market is expected to see a seasonal drop in travel demand up until October.
While growth in MakeMyTrip's gross bookings across the Air Ticketing segment has been encouraging, the same has seen modest growth from that of the previous quarter.
While I view the stock as having long-term growth potential, I take the view that earnings on a yearly basis would need to see a rebound to justify further upside.