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MakeMyTrip reported an 8.6% year-on-year increase in adjusted operating profit for the quarter ended June, supported by strong growth in bookings and revenue despite external challenges affecting travel demand. Gross bookings rose nearly 20% in constant currency to around USD 2.9 billion, while revenue increased 16.1%. The company recorded healthy growth across its key business segments, including hotels, air ticketing and bus services. It also expressed confidence in India's long-term travel and tourism market, citing improving infrastructure and increasing travel demand.
Nasdaq-listed travel booking platform MakeMyTrip reported an 8.6% year-on-year increase in adjusted operating profit for the quarter ended June, reflecting continued demand for travel services despite global uncertainties. The company's adjusted operating profit stood at USD 51.4 million, compared with USD 47.3 million in the corresponding quarter of the previous financial year, according to its latest regulatory filing.
The Gurugram-based company also reported strong growth in bookings during the quarter. Gross bookings increased 19.9% year-on-year in constant currency, reaching approximately USD 2.9 billion, indicating sustained consumer demand across domestic and international travel segments.
Revenue for the quarter grew 16.1% year-on-year in constant currency, supported by higher booking volumes across the company's business verticals. MakeMyTrip said it delivered strong performance even though several external events affected travel activity during the quarter.
The company further reported growth in adjusted margin across all major business segments. Air ticketing recorded a 10.8% year-on-year increase in constant currency, while the hotels and holiday packages segment grew 21.3%. Bus ticketing registered the strongest growth at 32.4%, while the 'Others' category expanded 27.2% over the same period.
Commenting on the results, Group Chief Executive Officer Rajesh Magow said the company had witnessed strong growth during the quarter despite external factors affecting travel. He noted that short-term challenges arising from the West Asia conflict, particularly its impact on oil prices, continue to create some uncertainty. However, he added that the company remains optimistic about the long-term prospects of India's travel and tourism sector, supported by ongoing infrastructure development and a growing tendency among Indians to travel.
India's travel and tourism industry has continued to recover over the past few years, aided by rising disposable incomes, expansion of airport infrastructure, improved road connectivity and growing demand for leisure and business travel. Online travel platforms have also benefited from increasing digital adoption and higher demand for flight, hotel and holiday bookings across the country.
Source PTI
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