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MakeMyTrip fiscal Q1 loss narrows YOY

MakeMyTrip Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss decreased 67.6% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.0 million, compared with a loss of $5.7 million in the year-earlier period.

The normalized profit margin climbed to negative 2.2% from negative 7.4% in the year-earlier period.

Total revenue rose 22.9% on an annual basis to $94.8 million from $77.2 million, and total operating expenses increased 18.1% from the prior-year period to $97.6 million from $82.6 million.

Reported net income came to a loss of $3.8 million, or a loss of 9 cents per share, compared to a loss of $9.0 million, or a loss of 24 cents per share, in the year-earlier period.