Technology and Internet
MakeMyTrip cuts losses by 24% in FY19, but stock falls 5.9%
17 May 2019
In the past few years, the MMYT stock has been known to miss Wall Street’s earnings projections. The company missed 50% of the time and was never able to meet predictions and topped expectations six times. And the trend of topping predictions has continued for the year.
Further in the light of Naspers selling its stake to Ctrip, MakeMyTrip is anticipating more strategic cooperation with Ctrip after regulators okay the deal. A report by PGA Labs said that the online travel market in India, led by flight and hotel aggregators, is expected to touch $13.6 Bn by 2021, and will account for almost 43% of the total travel category in the country.
This article was originally published on Inc 42. Read more.
Are you looking to grow faster than the competition? Write to us below.