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MakeMyTrip fiscal Q3 loss widens YOY

MakeMyTrip Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 29 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share loss widened year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $12.2 million, compared with a loss of $2.0 million in the prior-year period.

The normalized profit margin dropped to negative 14.8% from negative 2.6% in the year-earlier period.

Total revenue rose 8.3% on an annual basis to $82.0 million from $75.7 million, and total operating expenses rose 26.6% on an annual basis to $99.0 million from $78.3 million.

Reported net income came to a loss of $19.5 million, or a loss of 47 cents per share, compared to a loss of $3.8 million, or a loss of 9 cents per share, in the year-earlier period.