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MakeMyTrip fiscal Q2 loss narrows YOY

MakeMyTrip Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 7 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 4 cents per share.

The per-share loss narrowed 42.7% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.9 million, compared with a loss of $4.6 million in the prior-year period.

The normalized profit margin increased to negative 4.9% from negative 9.8% in the year-earlier period.

Total revenue climbed 27.7% year over year to $60.5 million from $47.4 million, and total operating expenses rose 19.8% on an annual basis to $63.8 million from $53.3 million.

Reported net income totaled a loss of $4.6 million, or a loss of 11 cents per share, compared to a loss of $7.5 million, or a loss of 20 cents per share, in the prior-year period.