MakeMyTrip Slips Into Red, Posts $5.7 Mn Loss In Q2

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SUMMARY

The Nasdaq-listed company reported a loss of $5.7 Mn during the quarter under review as against a net profit of $17.9 Mn reported in the year-ago quarter

Operating revenue grew 9% to $229.3 Mn in Q2 from $211 Mn in the year-ago quarter

MakeMyTrip’s net finance cost in the quarter zoomed to $35.9 Mn during the quarter under review as against $500K in the year-ago quarter due to an increase of $24.3 Mn in interest expense on financial liabilities and $11.2 Mn in foreign exchange losses

Online travel aggregator (OTA)…



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MakeMyTrip Slips Into Red, Posts $5.7 Mn Loss In Q2


SUMMARY

The Nasdaq-listed company reported a loss of $5.7 Mn during the quarter under review as against a net profit of $17.9 Mn reported in the year-ago quarter

Operating revenue grew 9% to $229.3 Mn in Q2 from $211 Mn in the year-ago quarter

MakeMyTrip’s net finance cost in the quarter zoomed to $35.9 Mn during the quarter under review as against $500K in the year-ago quarter due to an increase of $24.3 Mn in interest expense on financial liabilities and $11.2 Mn in foreign exchange losses

Online travel aggregator (OTA)…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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