GET DAILY SIGNALSMakeMyTrip (MMYT) Earnings Preview: Navigating Seasonality and Aviation Pressures
Key Takeaways
- MakeMyTrip is scheduled to report fiscal 2027 second-quarter results (quarter ended September 30, 2026) before the market opens on Monday, October 26, 2026.
- Analysts expect earnings of roughly $0.04 per share on revenue of about $267.4 million, a sharp sequential slowdown from the prior quarter's $0.53 per share and $285.6 million.
- The fiscal second quarter is seasonally slower, and India's aviation sector faces surging jet-fuel costs and capacity cuts from major domestic carriers.
- Investors will focus on whether faster-growing, higher-margin segments such as hotels, packages, and bus ticketing can offset softer air-ticketing growth.
- Currency is a key swing factor: with the Indian rupee down sharply year over year, constant-currency growth is expected to outpace reported revenue growth.
- For more on this ticker, explore MakeMyTrip's Major News, Today's Price Move, Price Targets, and Forecast on additional pages.
- Looking for timely trade ideas? Explore Trending AI Robots to see AI-driven market signals at work.
Earnings Context and Why It Matters
MakeMyTrip Limited (MMYT) stands as India's leading online travel company, and its fiscal second quarter captures a seasonally slower travel window between the strong summer and holiday periods. The report matters because it will test whether the company's evolving business mix can sustain profitability while India's aviation sector grapples with higher jet-fuel prices and capacity reductions. MakeMyTrip delivered a standout prior quarter, beating consensus estimates by a wide margin, which has raised the bar for continued momentum. The results will also offer a read on domestic and outbound travel demand, foreign-exchange effects on reported revenue, and the progress of the company's push into higher-margin, non-air segments. I checked comparable names in the sector using Tickeron's AI tools to get a broader sense of how MMYT stacks up.
Earnings Expectations
Wall Street is looking for MakeMyTrip to post earnings of approximately $0.04 per share on revenue of about $267.4 million for the fiscal 2027 second quarter ended September 30, 2026. That compares with revenue of roughly $229.3 million in the same quarter a year earlier, implying solid year-over-year growth even as the top line steps down from the prior quarter's $285.6 million. The sequential decline reflects normal seasonality in the September quarter.
Analysts note that revenue estimates have edged up only modestly in recent months, while earnings-per-share estimates have held flat, signaling tempered expectations heading into the print. Key metrics investors are watching include gross bookings, adjusted margin (a non-IFRS profitability measure used to track segment economics) across air ticketing, hotels and packages, bus ticketing, and other services, as well as constant-currency growth, which strips out the impact of the weaker Indian rupee. Historically, MMYT shares have reacted sharply to both upside surprises and guidance commentary, making this report a notable volatility event.
Market Reaction and Investor Sentiment
Sentiment heading into the print is cautious but constructive. MakeMyTrip's stock has fallen roughly 15% over the past 90 days and is down sharply on a year-to-date basis, even as the analyst community remains broadly positive on the longer-term story. Headwinds include rising aviation-fuel costs, capacity cuts at major Indian carriers, and foreign-exchange pressure from a weaker rupee. The key risk is that a softer air-travel environment drags on reported growth and tempers the optimism generated by the prior quarter's beat. Investors will be listening closely to management's commentary on demand trends, segment mix, and margin trajectory for signs that the company's diversification strategy can cushion the aviation slowdown.
Forward Outlook and Key Factors to Monitor
Following the report, investors should watch several forward-looking signals. First, guidance and commentary on domestic air-travel demand will be critical, given the fuel-price and capacity pressures now weighing on India's aviation market. Any indication of stabilization or recovery in air-ticketing volumes could materially shape sentiment.
Second, the growth of non-air segments remains central to the investment case. Hotels and packages, bus ticketing, intercity cabs, and tours and activities have been expanding faster than air ticketing and now contribute a larger share of adjusted margin. Sustained momentum in these areas would support blended margin improvement over time.
Third, currency effects deserve attention. With the Indian rupee down meaningfully year over year, constant-currency growth is expected to run well above reported growth, so investors should distinguish underlying demand from foreign-exchange translation. Finally, watch for updates on the company's artificial-intelligence initiatives, which management has cited as a lever for improving customer experience and operational efficiency. Together, these factors will help determine whether MakeMyTrip's long-term growth narrative stays intact despite near-term travel-industry headwinds. I also reviewed MMYT alongside peers using Tickeron's AI capabilities to spot any emerging patterns.
Exploring AI Tools for Deeper Analysis
In preparing for earnings like this one, I often turn to Tickeron's AI Screener to quickly filter travel and consumer stocks by technical patterns, fundamentals, and performance metrics. It helps surface comparable setups and breakout candidates without hours of manual work, giving a clearer view of how MMYT fits into the broader sector landscape right before the report.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
MMYT sees its 50-day moving average cross bearishly below its 200-day moving average
The 50-day moving average for MMYT moved below the 200-day moving average on October 14, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 23, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on MMYT as a result. In 58 of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 71%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MMYT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 77%.
The Aroon Indicator for MMYT entered a downward trend on October 16, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where MMYT's RSI Indicator exited the oversold zone, 17 of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 71%.
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The Moving Average Convergence Divergence (MACD) for MMYT just turned positive on October 09, 2026. Looking at past instances where MMYT's MACD turned positive, the stock continued to rise in 41 of 52 cases over the following month. The odds of a continued upward trend are 79%.
Following a +3.04% 3-day Advance, the price is estimated to grow further. Considering data from situations where MMYT advanced for three days, in 230 of 301 cases, the price rose further within the following month. The odds of a continued upward trend are 76%.
MMYT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 28 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 72 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 76 (best 1 - 100 worst), indicating slightly worse than average price growth. MMYT’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 81 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: MMYT's P/B Ratio (-55.862) is very low in comparison to the industry average of (0.533). MMYT has a moderately high P/E Ratio (111.351) as compared to the industry average of (24.573). MMYT's Projected Growth (PEG Ratio) (6.680) is very high in comparison to the industry average of (1.617). Dividend Yield (0.000) settles around the average of (0.187) among similar stocks. MMYT's P/S Ratio (4.737) is slightly higher than the industry average of (2.686).
The Tickeron Profit vs. Risk Rating rating for this company is 87 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MMYT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 80, placing this stock worse than average.
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General Information
a provider of online travel and hoteliery services
Industry ConsumerSundries
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