MMYT
Revenue keeps climbing — the margin math got uglier
MakeMyTrip (MMYT) said its fourth-quarter revenue continued to grow, which is the part of the story that keeps the bulls awake and the accountants smug. But the bottom line went the other way: profit fell from a year ago because higher finance costs ate into the upside.
The annoying part for investors
This is the kind of earnings report that makes you squint at the numbers and mutter, “Okay, but what’s actually left over?” Revenue growth is nice, sure. But if borrowing costs or financing expenses are rising faster than the business can offset them, earnings can look surprisingly fragile.
Why this matters
For a travel company like MakeMyTrip, investors usually want to see two things at once:
- bookings and revenue holding up
- profit expanding, not getting pinched by costs
When one of those legs wobbles, the market tends to get picky fast. The question now is whether this was a one-quarter headache or a sign that higher finance costs are becoming the company’s new travel companion.
Big picture: growth got the headline, but profits got the side-eye.