Why MakeMyTrip Shares Plunged Today

Shares of MakeMyTrip (NASDAQ: MMYT) fell today, down by 10% as of 3:20 p.m. EDT, after the India-based travel company reported fiscal second-quarter results. The figures came in better than expected, so it's not exactly clear why investors are so disappointed.

Revenue in the fiscal second quarter jumped 79% to $152.9 million, which translated into a net loss per share of $0.45 on a non-IFRS (International Financial Reporting Standards) basis. Analysts were modeling for an adjusted net loss of $0.61 per share.

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Source: Fool.com