MakeMyTrip CEO Highlights Surge in Travel Demand as Q4 Earnings Exceed Expectations
- Financial Performance: MakeMyTrip reported fiscal Q4 2024 revenue of $212.53 million, beating estimates, with adjusted EPS of $0.38 surpassing expectations.
- Revenue Growth: The company saw revenue growth in various segments, including air ticketing, hotels and packages, bus ticketing, and others, driven by increased travel demand in India.
- Bookings and Profit: Gross bookings surged 23.0% year-over-year to $2.04 billion, while adjusted operating profit improved by 70.4% year-over-year to $32.43 million.
- Cash Reserves: MakeMyTrip held $607.8 million in cash and equivalents as of March-end.
- Market Performance: Makemytrip stock gained 194% in the last 12 months, and investors can access the stock through specific ETFs like INQQ and AWAY.
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MakeMyTrip Agrees To Acquire Happay, Bolstering Its Arsenal For Corporate Travel Solutions
Acquisition Announcement: MakeMyTrip Limited is acquiring the Happay Expense Management Platform from CRED, enhancing its corporate travel and expense management services. The deal is expected to close within 90 days.
Leadership Statements: MakeMyTrip's CEO emphasized that this acquisition aligns with their strategy to lead in the corporate travel space, while CRED's founder highlighted the opportunity for both teams to focus on their strengths and drive growth in their respective domains.
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Leadership Statements: MakeMyTrip's CEO emphasized that this acquisition aligns with their strategy to lead in the corporate travel space, while CRED's founder highlighted the opportunity for both teams to focus on their strengths and drive growth in their respective domains.
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Federal Reserve Rate Cut: The Federal Reserve announced a 50-basis-point cut in interest rates, marking its first reduction since March 2020, with expectations for further cuts by the end of the year and into 2026, leading to optimism in global markets and commodities.
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