MMYT - MakeMyTrip soars after topping Q4 expectations

MakeMyTrip (MMYT) is up 5% after reporting solid beat on both lines in its fourth quarter earnings result. Revenue of $104.9M (-23.5% Y/Y) beats consensus by $28.04M.By segment: Air Ticketing revenue, $24.2M (-32.4% Y/Y); Hotels and Packages revenue, $38.1M (-19.9% Y/Y); Bus Ticketing revenue, $11.8M (-19.6% Y/Y); and Other revenue, $5.1M (-25.3% Y/Y).Gross bookings reached $759.2M, down from $1.21B a year ago.Adjusted operating profit of $11.1M vs. adjusted operating loss of $10.3M in 4Q20."Our revenue in the third and fourth quarter of fiscal year 2021 recovered to 38.7% and 75.5%, respectively, of revenue generated in the third and fourth quarter of fiscal year 2020. With the commencement of a phased rollout of vaccines in India from January 16, 2021, we witnessed significant recovery in domestic travel demand, with significant sequential quarter on quarter improvements across all our lines of business.  However, towards the end of the fourth quarter of fiscal year 2021, India witnessed a

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MakeMyTrip soars after topping Q4 expectations