MakeMyTrip, the largest online travel booking company in India, reported quarterly results that beat analysts' expectations helped by higher sales in its air ticketing business.
The company, which went public a little more than a year ago, reported second-quarter earnings of $74,240 or roughly break even on a per share basis, compared with a loss of $1.8 million, or 7 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.
Total revenue jumped 84 percent to $43.8 million. Revenue after service costs rose to $21.3 million, beating analysts' expectations of $18.7 million, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $31 on Monday on Nasdaq.
(Reporting by Fareha Khan in Bangalore; Editing by Viraj Nair)