MakeMyTrip Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2026 delivered strong volume growth in hotels, packages, and bus ticketing, offsetting temporary domestic air disruptions. AI-driven innovations and GST cuts fueled demand, while adjusted net profit rose 33% year-over-year.
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Q2 FY26 delivered strong adjusted operating profit growth of 18% year-on-year, driven by robust performance in hotels, international air, and bus segments, despite domestic air supply constraints and notional finance costs leading to a reported net loss. AI initiatives and expanded inventory support continued growth.
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Q1 FY26 saw resilient growth despite domestic travel disruptions, with international and ancillary segments driving revenue and profit gains. Management expects recovery and high teens to 20% growth for the year, supported by strong cash reserves and ongoing innovation.
Fiscal Year 2025
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Fiscal 2025 delivered record growth with gross bookings up 25.9% and adjusted operating profit up 34.7% year-on-year. Strong gains in international segments, robust user growth, and continued investment in AI and new offerings position the business for sustained outperformance.
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Gross bookings, revenue, and adjusted operating profit reached record highs, with strong year-on-year growth across all segments. International business and new demand pockets drove outperformance, while margin expansion and robust cash reserves support future growth.
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Gross bookings grew 24.3% year-on-year to $2.3 billion, with strong gains across all segments and robust cash generation. AI-driven enhancements and loyalty initiatives supported high repeat rates, while margins and customer acquisition costs remained stable.
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Record quarterly gross bookings and revenue were achieved, with strong growth across all segments and robust cash generation. Margins are expected to remain stable, with continued investments in technology and supply, while market share gains and new product features drive performance.