2024-02-08 22:12:35 ET
Summary
- MakeMyTrip Limited has the potential for further growth going forward.
- Q3 2024 earnings showed impressive revenue growth and a rise in overall revenue on a year-on-year basis.
- Gross bookings are up, and liquidity remains strong, but the rising P/E ratio indicates that price is outpacing earnings growth.
- I will be monitoring customer inducement growth across the Hotels and Packages segment more closely heading into the next quarter.
Investment Thesis
I take the view that MakeMyTrip Limited has potential upside to $77 based on continued sales growth, but will be monitoring growth in customer inducement costs across the Hotels and Packages segment....
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MakeMyTrip: Sales Growth Remains Impressive, But Watching Customer Inducement Costs