MakeMyTrip Q1 beats Wall Street view

MakeMyTrip, the largest online travel booking company in India which went public a year ago, reported market-beating quarterly results on a 58% jump in hotels and packages revenue.

For the first quarter ended June 30, the company reported earnings of USD 750,916 or 2 cents a share, compared with USD 1.3 million, or 5 cents a share a year ago.

Excluding items, it earned 4 cents a share.

Analysts on average were expecting earnings of 3 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 54% to USD 52 million versus analysts' expectations of USD 20.4 million. Revenue from hotels and packages business rose to USD 36.6 million.

Shares of the company closed at USD 17.75 Tuesday on Nasdaq.