MakeMyTrip (NASDAQ:MMYT) Releases Earnings Results, Beats Estimates By $0.09 EPS

MakeMyTrip (NASDAQ:MMYT) issued its quarterly earnings results on Wednesday. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09, FiscalAI reports. MakeMyTrip had a net margin of 7.57% and a return on equity of 23.82%. The firm had revenue of $295.70 million for the quarter, compared to the consensus estimate of $306.29 million.

Here are the key takeaways from MakeMyTrip’s conference call:

• Profit & capital return: Reported first-quarter adjusted operating profit above $50M (US$50.7M) and adjusted net profit ~US$51.4M with adjusted diluted EPS up ~33% YoY; repurchased ~US$46.1M under an expanded US$200M buyback and finished the quarter with >US$800M cash.
• AI / Mira traction: Mira scaled to >50,000 conversations/day with ~72% rated as good, ~15–24% of interactions at early trip-planning stage and strong adoption in non-metro areas via vernacular voice, while AI automates ~50% of flight/hotel customer queries — management calls AI a growth enabler.
• Hotels volume vs GBV divergence: Accommodation volume grew ~20.3% YoY (standalone hotels ~20.6%) driven by leisure and the GST cut for rooms
• Domestic air supply disruption: New stricter flight duty time rules for pilots caused December domestic departures to fall ~5% YoY (IndiGo capacity reductions), creating near-term headwinds and pushing full supply recovery into the next fiscal year.
• Product and distribution expansion: Launched tours & activities (200k bookable activities across 1,100 cities), scaled homestays (27.6k+ properties) and bus inventory (>45k daily schedules), grew corporate customers (MyBiz ~77.5k+) and completed Happay integration to broaden revenue mix.

MakeMyTrip Stock Performance

NASDAQ MMYT opened at $65.54 on Thursday. The company has a market cap of $7.29 billion, a P/E ratio of 102.41 and a beta of 0.66. The company has a fifty day simple moving average of $77.81 and a 200 day simple moving average of $88.19. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 38.85. MakeMyTrip has a 12-month low of $65.53 and a 12-month high of $120.72.

Key MakeMyTrip News

Here are the key news stories impacting MakeMyTrip this week:

• Positive Sentiment: EPS beat expectations — MMYT reported $0.52 EPS, topping consensus and several analyst estimates, a key driver supporting the stock. MakeMyTrip (MMYT) Surpasses Q3 Earnings Estimates
• Positive Sentiment: Higher per-trip monetization — Management highlighted growing revenue from ancillary services and “everything around the trip,” which signals improved unit economics and long-term margin potential. MakeMyTrip Is Making More Money From Everything Around the Trip
• Neutral Sentiment: Mixed top-line vs. metrics — Revenue came in below some estimates (~$295.7M vs~$306M consensus), while key metrics (net margin, ROE) remain under scrutiny; investors will watch guidance and km metrics in coming quarters. MakeMyTrip Q3 Earnings Press Release / Call
• Neutral Sentiment: Earnings call and transcript available — Management commentary in the call will be key for clarity on demand trends, margin recovery and capital structure plans. Q3 2026 Earnings Call Transcript
• Negative Sentiment: Profit impacted by finance costs and taxes — Reported profit fell sharply YoY (Inc42 notes a ~73% decline) due to higher finance costs and a tax liability, which weighed on bottom-line momentum. MakeMyTrip Q3: Profit Falls 73% YoY To $7.3 Mn
• Negative Sentiment: Analyst price-target cut and 1?year low — Citigroup trimmed its target (still a buy) and other coverage/comments pushed the stock to a new one?year low, amplifying selling pressure despite the beat. MakeMyTrip Reaches New 1-Year Low After Analyst Downgrade
• Negative Sentiment: Revenue miss and margin risk — The revenue shortfall versus consensus and the margin hit from financing/tax items increase near-term execution risk; investors focused on whether revenue growth and cost control will reaccelerate. Profit Undermined by High Finance Costs, Tax Liability

Wall Street Analysts Forecast Growth

MMYT has been the topic of a number of research analyst reports. Weiss Ratings assumed coverage on shares of MakeMyTrip in a research report on Thursday, October 30th. They set a “hold (c)” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Citigroup cut their price target on MakeMyTrip from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Bank of America dropped their target price on shares of MakeMyTrip from $115.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, December 24th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MMYT. Man Group plc raised its holdings in shares of MakeMyTrip by 6,434.6% in the 2nd quarter. Man Group plc now owns 632,747 shares of the technology company’s stock worth $62,022,000 after acquiring an additional 623,064 shares during the last quarter. Wasatch Advisors LP increased its holdings in MakeMyTrip by 20.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,009,860 shares of the technology company’s stock worth $98,986,000 after purchasing an additional 173,622 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in MakeMyTrip by 208.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 254,629 shares of the technology company’s stock worth $24,959,000 after purchasing an additional 172,039 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of MakeMyTrip in the third quarter worth approximately $13,879,000. Finally, Voloridge Investment Management LLC raised its stake in shares of MakeMyTrip by 44.4% in the third quarter. Voloridge Investment Management LLC now owns 438,177 shares of the technology company’s stock worth $41,013,000 after purchasing an additional 134,691 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

MakeMyTrip Company Profile

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.