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MakeMyTrip fiscal Q4 loss widens 47.1% YOY

MakeMyTrip Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 9 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss widened 34.4% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.6 million, compared with a loss of $2.5 million in the prior-year period.

The normalized profit margin dropped to negative 5.3% from negative 4.0% in the year-earlier period.

Total revenue increased 12.7% year over year to $68.6 million from $60.9 million, and total operating expenses climbed 13.3% year over year to $73.5 million from $64.9 million.

Reported net income totaled a loss of $6.3 million, or a loss of 15 cents per share, compared to a loss of $2.7 million, or a loss of 7 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 27 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 3 cents.

EPS was a loss of 37 cents in the prior year.

Normalized net income was a loss of $11.2 million, compared with a loss of $13.8 million in the prior year.

Full-year total revenue increased 17.3% year over year to $299.7 million from $255.4 million, and total operating expenses rose 15.5% year over year to $314.1 million from $271.9 million.

The company said reported net income totaled a loss of $18.4 million, or a loss of 44 cents per share, in the full year, compared with a loss of $20.8 million, or a loss of 55 cents per share, the prior year.