MakeMyTrip reported Q3 adjusted EPS (7c) vs. 8c a year ago Reported Q3 revenue $63.83M vs. $53.81M a year ago. The company maintained its FY13 revenue less service costs growth guidance in the range of 13%-16% on a constant currency basis. The guidance is based on average actual Indian Rupee to U.S. Dollar exchange rate of 48.23 for full FY12. On a U.S. dollar basis, MakeMyTrip maintained its revenue less service cost guidance in the range of $89M-$91M based on the current Q3 average exchange rate of INR 54 to a U.S. Dollar. Earnings were reported yesterday morning.
MakeMyTrip pullback creates buying opportunity, says Oppenheimer Oppenheimer says yesterday's 10% pullback in shares of MakeMyTrip creates a buying opportunity. The firm believes the positive catalyst from the Online travel sector in India is in the "early innings." It reiterates an Outperform rating on MakeMyTrip with a $32 price target.
MakeMyTrip volatility increases on wide share price movement MakeMyTrip October put option implied volatility is at 71, November is a 65, February is at 61; compared to its 26-week average of 54 according to Track Data, suggesting large price movement.