Shares of MakeMyTrip (MMYT) plunged 5.12% in Tuesday's trading session following the release of its fiscal second-quarter earnings report. Despite beating earnings estimates, the online travel company's revenue fell significantly short of analyst expectations, raising concerns about its growth trajectory.

MakeMyTrip reported quarterly revenue of $229.34 million, representing an 8.7% increase year-over-year. However, this figure fell well below the consensus estimate of $265.19 million, disappointing investors who were expecting stronger top-line growth. The company's adjusted earnings per share (EPS) came in at $0.37, surpassing the expected $0.31, but the positive surprise was overshadowed by the revenue miss.

The market's negative reaction also reflects broader concerns about MakeMyTrip's performance this year. Prior to this earnings release, the company's stock had already declined 19.9% year-to-date. While gross bookings increased by 13.1% year-over-year to $2,447.3 million, indicating some growth in travel demand, the company still reported a quarterly loss of $5.62 million. This mixed financial picture, combined with the significant revenue shortfall, appears to have shaken investor confidence, leading to the sharp sell-off in Tuesday's session.