Nasdaq-listed travel platform MakeMyTrip’s consolidated net profit swung to $1.8 million compared with a net loss of $5.7 million in the corresponding period last year, according to the quarterly results announced by the company on Monday.
The air ticketing business remained impacted by macroeconomic headwinds, including high fares and constrained capacity, the management revealed during the company’s earnings call following the quarterly results. “Coming to the air ticketing business, this has been impacted by macro headwinds. Overall, market supply was constrained, and domestic departures witnessed a degrowth of 4 per cent YoY.” “Both high fares and constrained capacity impacted demand, leading to an overall decline in flown passengers,” said Mohit Kabra, group chief operating officer.
On the IPO, Dipak Bohra, group chief financial officer, said, “On the proposed IPO of our wholly-owned subsidiary, MakeMyTrip India Limited, we have made a confidential filing earlier and continue to work with the capital market regulator and stock exchanges to get the due approvals. The timing of the IPO is subject to regulatory approvals and market conditions.”
In addition, the company plans to continue investing in hotel supply. “While geopolitical headwinds weighed on near-term international demand, we continue to see outbound travel as a significant long-term growth opportunity and therefore continue to invest in building international hotel supply,” said Kabra, speaking on the company’s investment plans.
According to the quarterly results announced by the company earlier in the day, gross bookings stood at $2,724.7 million, up 20.9 per cent on a constant currency basis compared with $2,447.3 million in the corresponding period last year, despite a challenging macroeconomic environment.
The travel platform’s IFRS revenue stood at $235.2 million during the second quarter of financial year 2026-27 (Q2 FY27), compared with $229.3 million in the same period last year, up 11.2 per cent on a constant currency basis.
Commenting on the results, Rajesh Magow, group chief executive officer, MakeMyTrip, said, “We delivered strong growth despite a challenging travel environment, with gross bookings increasing 20.9 percent year-on-year in constant currency to $2.7 billion.”
“Growth in hotels and ground transport underscored the resilience of our diversified portfolio and our ability to serve evolving customer needs,” he added.
However, its adjusted net profit before tax stood at $46.2 million compared with $36.4 million during the same period last year.
The company reported strong growth in adjusted margins across segments, with air ticketing growing 14.3 per cent, hotels and packages growing 20.2 per cent, bus ticketing growing 29.0 per cent, and others growing 29.8 per cent YoY.
