MakeMyTrip (MMYT) ended the recent trading session at $92.68, demonstrating a -1.46% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.58%. The online travel company's stock has dropped by 3.92% in the past month, falling short of the Computer and Technology sector's gain of 6.37% and the S&P 500's gain of 3.68%.The investment community will be paying close attention to the earnings performance of MakeMyTrip in its upcoming release. The company's u ...

In the latest close session, MakeMyTrip (MMYT) was up +2.17% at $94.34. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.39%. Prior to today's trading, shares of the online travel company had lost 7.69% lagged the Computer and Technology sector's gain of 8.78% and the S&P 500's gain of 3.94%.The investment community will be paying close attention to the earnings performance of MakeMyTrip in its upcoming release. ...

MakeMyTrip (MMYT) ended the recent trading session at $96.70, demonstrating a -5.07% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.55%. On the other hand, the Dow registered a loss of 0.19%, and the technology-centric Nasdaq decreased by 0.95%. Heading into today, shares of the online travel company had lost 0.39% over the past month, lagging the Computer and Technology sector's gain of 9.88% and the S&P 500's gain of 3.64%.The investment community will be p ...

The $500 Mn online train food ordering market is projected to grow at a CAGR of 15% by 2033Under this partnership, MakeMyTip will leverage its “Live Train Status” tool to track real-time train location and status during the journeyZomato has partnered with MakeMyTrip to strengthen its food delivery service on trainsEternal-owned food delivery major Zomato has partnered with online travel aggregator (OTA) major MakeMyTrip to strengthen its food delivery service on trains. The partnership will allow the food ...

Group 1 - MakeMyTrip Ltd. (NASDAQ: MMYT) has a positive demand outlook and is well-positioned to capitalize on it despite short-term disruptions, achieving a 19% year-over-year growth [1] - The investment approach discussed includes fundamental investing, technical investing, and momentum investing, highlighting the merits of each strategy [1] Group 2 - The article serves as a platform for tracking investment ideas and connecting with like-minded investors [1]

Core Viewpoint - MakeMyTrip reported quarterly earnings of $0.42 per share, missing the Zacks Consensus Estimate of $0.45 per share, but showing an increase from $0.39 per share a year ago, indicating a -6.67% earnings surprise [1][2] Financial Performance - The company posted revenues of $268.85 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 2.99%, compared to $254.52 million in the same quarter last year [2] - Over the last four quarters, MakeMyTrip has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - MakeMyTrip shares have declined approximately 13% since the beginning of the year, contrasting with the S&P 500's gain of 7.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $256.02 million, and for the current fiscal year, it is $1.97 on revenues of $1.16 billion [7] Industry Outlook - The Internet - Delivery Services industry, to which MakeMyTrip belongs, is currently ranked in the top 11% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]

Financial Data and Key Metrics Changes - Revenue for Q1 FY26 grew by 7.8% year on year in constant currency to $268.8 million, impacted by external events [26] - Adjusted operating profit reached $47.3 million, reflecting a 21% year on year growth [27] - Profit for the quarter was $25.8 million, up 22.6% from $21 million in the same quarter last year [27] Business Line Data and Key Metrics Changes - International air ticketing revenue grew over 27% year on year, significantly outpacing industry growth [8] - International hotels revenue increased by over 45% year on year, contributing 27% to overall revenue, up from 24% in the same period last year [8][26] - Gross booking value for hotel and packages business grew by 15.3% year on year in constant currency [10] Market Data and Key Metrics Changes - Domestic air segment market share increased from 30.6% to 30.8% [5] - International air ticketing business volumes grew by over 21% year on year, nearly three times the market growth of 7% [28] - The mix of international air ticketing revenue reached an all-time high of 42%, compared to 37% in the same quarter last year [28] Company Strategy and Development Direction - The company is focusing on enhancing customer experience through new product offerings and expanding its international market presence [9][12] - There is a strategic emphasis on corporate travel and international outbound travel, with a commitment to leveraging consumer insights and technology [6][13] - The company aims to maintain a diversified business portfolio to mitigate risks from macroeconomic challenges [24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth prospects of the Indian travel sector, driven by rising disposable income and changing consumer behavior [6][22] - Despite recent macro headwinds, management believes the impact is short-term and does not alter the long-term outlook for the travel sector [5][6] - There are signs of improving consumer sentiment and recovery in travel demand, particularly in June [46][49] Other Important Information - The company raised approximately $3.1 billion through primary offerings, which were used for share repurchase initiatives [32][33] - The board composition has changed, with a reduction in nominees from Trip.com and an increase in independent directors [86][88] Q&A Session Summary Question: What is the outlook for revenue and GMV growth for the full year? - Management indicated that despite Q1 growth being at 16%, they remain on target for high teens to 20% growth for the year [39][40] Question: How is consumer sentiment trending post recent events? - Management noted an improvement in consumer sentiment and booking trends, indicating a recovery from temporary disruptions [46][49] Question: What is the company's stance on a potential IPO in India? - Management reiterated that an IPO remains a mid-term opportunity, contingent on capital market conditions and fundraising plans [51][52] Question: How does the company view competition in the market? - Management stated that while competition remains, they maintain a strong market share and focus on long-term growth rather than short-term fluctuations [66][68] Question: What is the strategy for capital allocation and buybacks? - Management expressed openness to opportunistic buybacks while maintaining a focus on deploying capital effectively [72][73]

Financial Data and Key Metrics Changes - Revenue for Q1 FY26 grew by 7.8% year on year in constant currency to $268.8 million, impacted by external events [24] - Adjusted operating profit reached $47.3 million, reflecting a 21% year on year growth [24][25] - Profit for the quarter was $25.8 million, up from $21 million in the same quarter last year, marking a 22.6% increase [25] Business Line Data and Key Metrics Changes - International air ticketing revenue grew over 27% year on year, significantly outpacing industry growth [6] - International hotels revenue increased by over 45% year on year, contributing approximately 27% to overall revenue, up from 24% in the same period last year [6][24] - Gross booking value for hotel and packages business grew by 15.3% year on year in constant currency [9] Market Data and Key Metrics Changes - Domestic air market share increased from 30.6% to 30.8% despite macro challenges [4][26] - International air ticketing business volumes grew by over 21% year on year, nearly three times the market growth of 7% [26] - The mix of international air ticketing revenue reached an all-time high of 42%, compared to 37% during the same quarter last year [26] Company Strategy and Development Direction - The company is focusing on enhancing customer experience through new product offerings and expanding its international market presence [10][12] - There is a strategic emphasis on diversifying the business portfolio to mitigate risks from domestic market fluctuations [23] - The company aims to leverage rising disposable income and changing consumer behavior towards experiential travel to drive long-term growth [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth prospects of the Indian travel sector, despite short-term macro headwinds [4][21] - There is an expectation of recovery in consumer sentiment and travel demand, particularly in the international segment [44][46] - Management indicated that the impact of recent events on travel demand is temporary and does not alter the long-term growth narrative [44] Other Important Information - The company successfully raised approximately $3.1 billion through primary offerings, which were used for share repurchase initiatives [31][32] - The board composition has changed with a reduction in Trip.com's nominees, increasing the number of independent directors [88][91] Q&A Session All Questions and Answers Question: What is the outlook for revenue and GMV growth for the upcoming quarters? - Management indicated that despite Q1's 16% revenue growth, they remain on target for high teens to 20% growth for the full year [35][38] Question: Is there an improvement in consumer sentiment following recent events? - Management noted that consumer sentiment is improving, with booking trends for leisure destinations gradually returning [44][46] Question: What is the competitive landscape like, particularly regarding OTAs? - Management stated that they maintain a strong market share of over 30% in the domestic air market and do not see significant changes in competitive dynamics [66][68] Question: What is the company's approach to capital allocation and buybacks? - Management confirmed an opportunistic approach to buybacks, with plans to deploy capital as opportunities arise [73][74]

[Performance Overview](index=1&type=section&id=Performance%20Overview) [Financial & Operating Highlights (Q1 FY2026)](index=1&type=section&id=Financial%20%26%20Operating%20Highlights%20(Q1%20FY2026)) MakeMyTrip reported resilient Q1 FY2026 growth with Gross Bookings up 9.6% to **$2.61 billion** and revenue up 5.6% to **$268.8 million**, alongside significant profitability improvements Q1 FY2026 Financial Summary (vs. Q1 FY2025) | Metric | Q1 FY2025 ($ thousands) | Q1 FY2026 ($ thousands) | YoY Change | YoY Change (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | **Gross Bookings** | 2,380,358 | 2,608,479 | 9.6% | 12.4% | | **Revenue** | 254,519 | 268,846 | 5.6% | 7.8% | | Air Ticketing Revenue | 57,546 | 60,125 | 4.5% | 6.9% | | Hotels and Packages Revenue | 146,846 | 141,648 | -3.5% | -1.7% | | Bus Ticketing Revenue | 29,217 | 38,753 | 32.6% | 35.0% | | **Results from Operating Activities** | 27,858 | 40,361 | 44.9% | N/A | | **Profit for the period** | 21,046 | 25,805 | 22.6% | N/A | | **Adjusted Operating Profit** | 39,139 | 47,341 | 21.0% | N/A | | **Adjusted Net Profit** | 44,523 | 49,429 | 11.0% | N/A | - Adjusted Margin, a key non-IFRS performance indicator, showed strong year-over-year growth across all segments (based on constant currency): - **Air Ticketing:** **+11.5%** to **$97.1 million** - **Hotels and Packages:** **+16.3%** to **$121.9 million** - **Bus Ticketing:** **+34.1%** to **$42.6 million** - **Others:** **+47.4%** to **$21.5 million**[5](index=5&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management acknowledged a challenging quarter with slowed growth in May and June due to external factors, yet expressed confidence in India's long-term travel sector growth and the company's resilient performance - CEO Rajesh Magow noted that while growth momentum from April slowed in May and June due to muted consumer sentiment and supply constraints from geopolitical events and a plane crash, the company's diversified business mix helped navigate these short-term adversities[3](index=3&type=chunk) - CFO Mohit Kabra emphasized the resilient performance and YoY profit improvement despite the challenging environment, attributing it to the company's diversified portfolio, financial discipline, and operational agility, also noting recent domestic air passenger numbers suggest easing headwinds[4](index=4&type=chunk) [Detailed Financial Analysis (Q1 FY2026)](index=3&type=section&id=Detailed%20Financial%20Analysis%20(Q1%20FY2026)) [Impact of External Events on Quarterly Performance](index=3&type=section&id=Impact%20of%20External%20Events%20on%20Quarterly%20Performance) External events in May and June 2025, including a terrorist attack and plane crash, significantly impacted quarterly performance, causing a slowdown in travel demand after a strong April - Business growth in May and June 2025 was negatively impacted by a terrorist attack near Pahalgam, Jammu and Kashmir on April 22, 2025, and a passenger airplane crash in Ahmedabad in June 2025[6](index=6&type=chunk) Monthly Gross Bookings YoY Growth (Constant Currency) | Segment | April 2025 | May 2025 | June 2025 | | :--- | :--- | :--- | :--- | | Air Ticketing | 19.9% | -4.7% | 0.8% | | Hotels and Packages | 29.6% | 10.5% | 9.3% | | Bus Ticketing | 38.7% | 32.6% | 30.9% | | Others | 39.7% | 27.3% | 28.6% | [Segment Performance Analysis](index=3&type=section&id=Segment%20Performance%20Analysis) Segment performance varied, with Bus Ticketing and 'Others' showing strong growth, Air Ticketing modest gains, and Hotels and Packages revenue declining despite Adjusted Margin improvement Segment Revenue and Adjusted Margin (Q1 FY2026 vs Q1 FY2025) | Segment | Revenue Q1'25 ($k) | Revenue Q1'26 ($k) | Adjusted Margin Q1'25 ($k) | Adjusted Margin Q1'26 ($k) | | :--- | :--- | :--- | :--- | :--- | | Air ticketing | 57,546 | 60,125 | 89,109 | 97,060 | | Hotels and packages | 146,846 | 141,648 | 107,275 | 121,881 | | Bus ticketing | 29,217 | 38,753 | 32,356 | 42,593 | | Others | 20,910 | 28,320 | 14,918 | 21,495 | [Air Ticketing](index=3&type=section&id=Air%20Ticketing) Air Ticketing revenue increased by **4.5%** to **$60.1 million** and Adjusted Margin grew **8.9%** to **$97.1 million**, driven by a **5.0%** rise in flight segments - Revenue increased by **4.5%** (**6.9%** in constant currency) to **$60.1 million**, and Adjusted Margin increased by **8.9%** (**11.5%** in constant currency) to **$97.1 million**[11](index=11&type=chunk) - The growth was primarily driven by a **5.0%** increase in the number of air ticketing flight segments year over year[11](index=11&type=chunk) [Hotels and Packages](index=3&type=section&id=Hotels%20and%20Packages) Hotels and Packages revenue decreased **3.5%** to **$141.6 million**, but Adjusted Margin increased **13.6%** to **$121.9 million**, driven by a **17.0%** rise in hotel-room nights - Revenue decreased by **3.5%** (**1.7%** in constant currency) to **$141.6 million**, primarily due to a decrease in revenue from the packages business[12](index=12&type=chunk) - Adjusted Margin increased by **13.6%** (**16.3%** in constant currency) to **$121.9 million**, driven by a **17.0%** increase in the number of hotel-room nights year over year[12](index=12&type=chunk)[13](index=13&type=chunk) [Bus Ticketing](index=5&type=section&id=Bus%20Ticketing) Bus Ticketing showed strong growth, with revenue up **32.6%** to **$38.8 million** and Adjusted Margin up **31.6%** to **$42.6 million**, driven by a **32.6%** increase in tickets sold - Revenue increased by **32.6%** (**35.0%** in constant currency) to **$38.8 million**, and Adjusted Margin increased by **31.6%** (**34.1%** in constant currency) to **$42.6 million**[15](index=15&type=chunk) - The growth was driven by a **32.6%** increase in the number of bus tickets sold year over year[15](index=15&type=chunk) [Others](index=5&type=section&id=Others) The 'Others' segment reported robust growth, with revenue up **35.4%** to **$28.3 million** and Adjusted Margin rising **44.1%** to **$21.5 million**, driven by ancillary services and marketing alliances - Revenue increased by **35.4%** (**38.7%** in constant currency) to **$28.3 million**, and Adjusted Margin increased by **44.1%** (**47.4%** in constant currency) to **$21.5 million**, primarily due to growth in ancillary services and marketing alliances[16](index=16&type=chunk) [Operating Expenses and Profitability](index=5&type=section&id=Operating%20Expenses%20and%20Profitability) The company achieved improved profitability with Results from Operating Activities up **44.9%** to **$40.4 million** and Net Profit up **22.6%** to **$25.8 million**, despite increased operating expenses Key Expense and Profitability Metrics (Q1 FY2026 vs Q1 FY2025) | Metric | Q1 FY2025 ($ thousands) | Q1 FY2026 ($ thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Service Cost | 85,100 | 74,900 | -12.0% | | Personnel Expenses | 38,200 | 40,200 | 5.3% | | Marketing & Sales Promotion | 40,100 | 43,900 | 9.6% | | Results from Operating Activities | 27,858 | 40,361 | 44.9% | | Profit for the Period | 21,046 | 25,805 | 22.6% | | Diluted EPS | $0.19 | $0.22 | 15.8% | - Net finance costs were **$4.0 million**, a shift from a net finance income of **$1.7 million** in the prior year, primarily due to higher interest expense and foreign exchange losses[22](index=22&type=chunk) [Liquidity and Financial Position](index=7&type=section&id=Liquidity%20and%20Financial%20Position) As of June 30, 2025, the company maintained a strong liquidity position with **$804.2 million** in cash, cash equivalents, and term deposits - As of June 30, 2025, the company's cash, cash equivalents, and term deposits totaled **$804.2 million**[26](index=26&type=chunk) [Corporate Developments and Governance](index=7&type=section&id=Corporate%20Developments%20and%20Governance) [Share Repurchases](index=7&type=section&id=Share%20Repurchases) On July 2, 2025, the company completed a significant repurchase and cancellation of **34.4 million** Class B shares from Trip.com, reducing Trip.com's voting power to **16.90%** - On July 2, 2025, the company completed the repurchase and cancellation of **34,372,221** Class B shares from Trip.com Group Limited[27](index=27&type=chunk) - Post-repurchase, Trip.com holds approximately **16.90%** of the voting power in MakeMyTrip[28](index=28&type=chunk) - As of June 30, 2025, the company had remaining authority to repurchase up to **$114.2 million** of its ordinary shares and 2028 Notes, with no repurchases made under this plan in Q1 FY2026[33](index=33&type=chunk) [Board Committee Updates](index=7&type=section&id=Board%20Committee%20Updates) Effective July 22, 2025, the company updated its board committees, appointing an independent director to the audit committee and establishing a new nominations committee - Independent director Hashim Joomye was appointed as a member of the audit committee, which now comprises three independent members[29](index=29&type=chunk) - A new nominations committee was established, consisting of three members: Deep Kalra (Chair), May Yihong Wu, and Hashim Joomye[30](index=30&type=chunk) [Non-IFRS Financial Measures and Reconciliations](index=9&type=section&id=Non-IFRS%20Financial%20Measures%20and%20Reconciliations) [Explanation of Key Performance Indicators and Non-IFRS Measures](index=9&type=section&id=Explanation%20of%20Key%20Performance%20Indicators%20and%20Non-IFRS%20Measures) The company utilizes non-IFRS measures like Adjusted Margin, Adjusted Operating Profit, and constant currency results to evaluate performance, excluding non-cash or non-recurring items for clearer financial analysis - The company's key performance indicator is 'Adjusted Margin', which represents IFRS revenue after adding back customer inducement costs and deducting the cost of procurement of services[35](index=35&type=chunk)[36](index=36&type=chunk) - Adjusted Operating Profit and Adjusted Net Profit are used for internal reporting and exclude non-cash or non-recurring items such as share-based compensation costs, amortization of acquired intangibles, and certain interest expenses[38](index=38&type=chunk) - 'Constant currency' results are presented to provide a baseline for analyzing business trends by removing the impact of foreign exchange rate fluctuations[40](index=40&type=chunk) [Reconciliation of IFRS to Non-IFRS Measures](index=17&type=section&id=Reconciliation%20of%20IFRS%20to%20Non-IFRS%20Measures) Detailed reconciliations are provided, showing how IFRS Results from Operating Activities of **$40.4 million** reconcile to an Adjusted Operating Profit of **$47.3 million** for Q1 FY2026 Reconciliation of Results from Operating Activities to Adjusted Operating Profit | Description | Q1 FY2025 ($ thousands) | Q1 FY2026 ($ thousands) | | :--- | :--- | :--- | | **Results from operating activities (IFRS)** | **27,858** | **40,361** | | Add: Acquisition related intangibles amortization | 2,881 | 2,875 | | Add: Employee share-based compensation costs | 8,400 | 5,466 | | Less: Gain on discontinuation of equity accounted investment | — | (1,361) | | **Adjusted Operating Profit (Non-IFRS)** | **39,139** | **47,341** | Reconciliation of Profit for the period to Adjusted Net Profit | Description | Q1 FY2025 ($ thousands) | Q1 FY2026 ($ thousands) | | :--- | :--- | :--- | | **Profit for the period (IFRS)** | **21,046** | **25,805** | | Add: Adjustments (Amortization, Share-based comp, etc.) | 15,005 | 13,648 | | Add: Income tax expense | 8,472 | 10,574 | | Add: Share of loss of equity-accounted investees | 15 | 6 | | **Adjusted Net Profit (Non-IFRS)** | **44,523** | **49,429** | [Financial Statements and Operating Data](index=12&type=section&id=Financial%20Statements%20and%20Operating%20Data) [Condensed Consolidated Interim Statement of Financial Position](index=12&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Financial%20Position) As of June 30, 2025, total assets increased significantly to **$4.88 billion**, primarily due to proceeds from a share and convertible note issuance held in escrow for a share repurchase Key Balance Sheet Items (as of June 30, 2025) | Item | Amount ($ thousands) | | :--- | :--- | | Total Assets | 4,878,919 | | Total Liabilities | 4,817,176 | | Total Equity | 61,743 | | Cash and cash equivalents | 486,596 | | Term deposits | 317,598 | - A significant increase in assets and liabilities is noted due to net proceeds of approximately **$3,038.8 million** from a share and convertible note issuance, which were held in an escrow account as of June 30, 2025, to fund the share repurchase from Trip.com[48](index=48&type=chunk) [Condensed Consolidated Interim Statement of Profit or Loss](index=13&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Profit%20or%20Loss) For Q1 FY2026, total revenue reached **$268.8 million**, with Results from Operating Activities improving to **$40.4 million** and Profit for the period increasing to **$25.8 million** Income Statement Summary (Q1 FY2026 vs Q1 FY2025) | Item | Q1 FY2025 ($ thousands) | Q1 FY2026 ($ thousands) | | :--- | :--- | :--- | | Total Revenue | 254,519 | 268,846 | | Results from operating activities | 27,858 | 40,361 | | Profit before tax | 29,518 | 36,379 | | **Profit for the period** | **21,046** | **25,805** | | Basic Earnings per share | $0.19 | $0.23 | | Diluted Earnings per share | $0.19 | $0.22 | [Condensed Consolidated Interim Statement of Cash Flows](index=15&type=section&id=Condensed%20Consolidated%20Interim%20Statement%20of%20Cash%20Flows) Net cash generated from operating activities decreased to **$41.8 million** in Q1 FY2026, with net cash used in investing and financing activities leading to a **$21.1 million** decrease in cash and cash equivalents Cash Flow Summary (Q1 FY2026 vs Q1 FY2025) | Item | Q1 FY2025 ($ thousands) | Q1 FY2026 ($ thousands) | | :--- | :--- | :--- | | Net cash generated from operating activities | 72,323 | 41,843 | | Net cash used in investing activities | (45,868) | (60,691) | | Net cash used in financing activities | (4,993) | (2,251) | | **Increase (decrease) in cash and cash equivalents** | **21,462** | **(21,099)** | [Selected Operating and Financial Data](index=19&type=section&id=Selected%20Operating%20and%20Financial%20Data) Key operating metrics showed strong year-over-year volume growth, with Hotel and Packages room nights increasing to **10.7 million** and Bus tickets sold rising to **35.2 million** Key Operating Metrics (Q1 FY2026 vs Q1 FY2025) | Unit Metric (in thousands) | Q1 FY2025 | Q1 FY2026 | | :--- | :--- | :--- | | Air Ticketing – Flight segments | 14,156 | 14,479 | | Hotels and Packages – Room nights | 9,108 | 10,657 | | Bus Ticketing – Bus tickets | 26,558 | 35,205 | Adjusted Margin % by Segment | Segment | Q1 FY2025 | Q1 FY2026 | | :--- | :--- | :--- | | Air Ticketing | 6.4% | 6.8% | | Hotels and Packages | 17.5% | 17.7% | | Bus Ticketing | 10.2% | 10.3% |

Core Viewpoint - MakeMyTrip (MMYT) is currently facing challenges in stock performance, with a notable decline over the past month, while upcoming earnings are anticipated to show growth in both EPS and revenue compared to the previous year [2][3][4]. Company Performance - The stock price of MakeMyTrip ended at $93.01, reflecting a +2.25% change from the previous day's closing price, outperforming the S&P 500 which fell by 0.4% [1]. - Over the last month, MakeMyTrip's shares have decreased by 9.83%, underperforming the Computer and Technology sector which gained 6.34% and the S&P 500 which increased by 4.97% [2]. Upcoming Earnings - MakeMyTrip is set to release its earnings report on July 22, 2025, with an expected EPS of $0.45, indicating a 15.38% increase from the same quarter last year [3]. - The consensus estimate for revenue is projected at $277.12 million, representing an 8.88% year-over-year increase [3]. Full-Year Estimates - The Zacks Consensus Estimates for MakeMyTrip's full-year earnings are $1.96 per share and revenue of $1.16 billion, which would signify year-over-year growth of +25.64% and +18.78%, respectively [4]. Analyst Sentiment - Recent changes in analyst estimates for MakeMyTrip are crucial, as positive revisions indicate optimism regarding the company's business and profitability [4]. - The Zacks Rank for MakeMyTrip is currently 5 (Strong Sell), reflecting a decline of 0.61% in the consensus EPS projection over the past 30 days [6]. Valuation Metrics - MakeMyTrip's Forward P/E ratio stands at 46.53, which is significantly higher than the industry average Forward P/E of 14.77, indicating a premium valuation [7]. - The Internet - Delivery Services industry, to which MakeMyTrip belongs, has a Zacks Industry Rank of 94, placing it in the top 39% of over 250 industries [7].