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MMYT - MakeMyTrip: Record Quarter But Pricey Stock
MakeMyTrip Limited
2024-01-26 08:04:58 ET
Summary
MakeMyTrip, India's largest online travel company, has released its Q3 2024 earnings report, beating expectations and breaking records for gross bookings, revenue, and profit.
The company's revenue increased by 25.6% YoY to $214.2 million, and gross bookings increased by 21.7% YoY to $2.1 billion.
While the stock has performed well, with a 61.03% increase over the last year, the company's high forward P/E ratio suggests it may be overvalued compared to travel industry peers.