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MakeMyTrip fiscal Q2 loss widens YOY

MakeMyTrip Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 17 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

The per-share loss grew year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $7.0 million, compared with a loss of $2.9 million in the prior-year period.

The normalized profit margin declined to negative 11.2% from negative 4.9% in the year-earlier period.

Total revenue grew on an annual basis to $62.5 million from $60.5 million, and total operating expenses increased 12.2% year over year to $71.6 million from $63.8 million.

Reported net income came to a loss of $12.1 million, or a loss of 29 cents per share, compared to a loss of $4.6 million, or a loss of 11 cents per share, in the year-earlier period.