MakeMyTrip Limited, a leading online travel company, has disclosed its unaudited financial results for the first quarter ending June 30, 2024. The announcement, made through an earnings release attached to a 6-K form filed with the SEC, provides investors with insights into the company’s latest performance metrics.
MakeMyTrip Q1 Financial Disclosure
The financial outcomes for the first quarter were not detailed in the provided excerpt, so specifics regarding revenue, profit, or loss figures remain undisclosed in this report. MakeMyTrip has complied with regulatory requirements to inform the market of its financial standing at the end of the quarter. No significant changes in the company’s operations or management that could have influenced the financial results were mentioned.
Recent Financial Results
MakeMyTrip has been making significant strides in its financial performance and growth strategies. The company’s fourth-quarter performance surpassed expectations, with gross bookings and adjusted revenue exceeding estimates. MakeMyTrip reported a record gross booking value of $8 billion and an adjusted operating profit of $124 million for fiscal year 2024, marking a substantial increase from the previous year.
Ratings and Future Projections
Goldman Sachs (NYSE: GS) and Citi have both maintained a Buy rating on MakeMyTrip, with Goldman Sachs targeting a stock price of $88 and Citi aiming for $93. These endorsements came after the company outlined its growth expectations and financial strategies at the GS TechNet Conference Asia Pacific 2024. MakeMyTrip aims to double its growth relative to the underlying travel market over the foreseeable future.
Plans and Financial Position
While MakeMyTrip does not have significant investment plans on the horizon, it is considering a share buyback in the near term. The company’s strong financial position and disciplined spending have contributed to its growing profitability, with a targeted increase in operating margins to 17-18% in the medium term.
MakeMyTrip unaudited Q1 financial results provides a glimpse into its ongoing financial health and performance. Despite the lack of specific figures, the company’s impressive fiscal year performance and future growth strategies signal robust potential for investors.
