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.
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MakeMyTrip: Record Quarter, But Pricey Stock