Tiger Global Management Reduces Its MakeMyTrip Limited (MMYT) Stake

For the fiscal third-quarter of 2015, MakeMyTrip Limited (NASDAQ:MMYT) reported strong financial results. The company posted revenue of $75.7 million for fiscal quarter ended December 31, 2014, compared to $70.0 million in 2013. It booked a net loss of $3.7 million for the quarter, versus a loss of $1.6 million in 2013. Loss per share was $0.09, compared to loss per share of $0.04 in 2013. For fiscal year 2015, the company improved its annual revenue less service cost guidance to a constant currency growth of 30% to 31%, which is in the range of $137 million to $138 million.

“In the final fiscal quarter of 2015, we remain committed to investing for high growth in our Hotels and Holiday Packages business and improving the customer experience on our mobile platforms,” Chairman and Group CEO Deep Kalra states.

On Thursday, MakeMyTrip Limited (NASDAQ:MMYT) traded down by 0.56% to $24.65. Since February 2014, the stock moved down nearly 13%. During last six months, the stock fell by 18.59%. The stock has consensus average target price of $33.33, while the consensus average recommendation is ‘Buy’.

Among the largest shareholders of MakeMyTrip Limited (NASDAQ:MMYT) is Daniel Gold’s QVT Financial, which disclosed ownership of 1.55 million shares of the company in its latest 13F. Another shareholder is Columbus Circle Investors which held 601,494 shares of the company as of the end of September 2014. Merchants’ Gate Capital, managed by Jason Capello, also sees value in MakeMyTrip Limited (NASDAQ:MMYT), in which the investor started a new position in the third quarter of 2014, owning 311,323 shares as of the company.

Disclosure: none