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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, 2014, came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

The per-share loss widened 81.1% year over year from 3 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 $996,570 in the prior-year period.

The normalized profit margin dropped to negative 2.6% from negative 1.4% in the year-earlier period.

Total revenue climbed 8.2% on an annual basis to $75.7 million from $70.0 million, and total operating expenses increased 10.0% on an annual basis to $78.3 million from $71.1 million.

Reported net income totaled a loss of $3.8 million, or a loss of 9 cents per share, compared to a loss of $1.5 million, or a loss of 4 cents per share, in the prior-year period.