MakeMyTrip may have ‘structural problems it cannot fix,’ J Capital says

J Capital Research stated in a post to its blog that the most recent quarter was MakeMyTrip’s (MMYT) “most profitable since 2011.” However, the short-focused firm said “that is not saying much and may not endure.” The report continues: “This company has an astonishingly poor reputation among customers. It is regularly accused of selling reservations at phantom hotels, accepting payment for counterfeit air tickets, promoting overpriced or outright fraudulent packages, delaying or refusing refunds, and once conducting business with U.S. state sponsors of terrorism. We wonder whether MMYT has structural problems it cannot fix.”