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MakeMyTrip Falls To Loss In Q3

MakeMyTrip Ltd. (MMYT) Thursday announced a sharp loss for the third quarter to $45.348 million, compared to profit of $16.556 million last year. On a per share basis, loss was $0.45, compared to profit of $0.31 in the prior year. On an adjusted basis, net loss was $30.476 million.

On average, 3 analysts polled by Thomson Reuters expected the company to record loss of $0.05 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased 39.9 percent to $172.48 million from $123.25 million a year ago. Analysts projected revenue of $140.77 million. The company has recorded other operating expenses of $32.63 million, up from $18.202 million last year. Marketing and sales promotion expenses increased to $108.97 million from $44.55 million a year ago.

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