MakeMyTrip Q2FY25 results: Profit jumps nearly eight times to $17.9 million

MakeMyTrip Q2FY25 results: Revenue up 26.5% year-on-year, bus and air ticketing see significant rise

Travel service provider MakeMyTrip Ltd on Wednesday reported a profit of $17.9 million for the July-September quarter (Q2) of financial year 2024-25 (FY25). This was a more than seven-fold increase from the same period last year when the company had reported $2 million in profit. 

 

MakeMyTrip reported revenue as per International Financial Reporting Standards (IFRS) of $211.0 million, a significant 26.5 per cent increase compared to $168.7 million in Q2FY24, driven by sustained growth across all business verticals.

 

Gross bookings for the quarter amounted to $2,257.2 million, up 24.3 per cent year-on-year (Y-o-Y) from $1,839.7 million, reflecting increased travel demand.

 

The company’s adjusted operating profit (also referred to as Adjusted Ebit) grew by 32.9 per cent Y-o-Y, reaching $37.5 million, compared to $28.2 million in the same period last year.

 

MakeMyTrip Q2FY25 segment-wise growth

 

Air ticketing saw an adjusted margin of $96.0 million, up 21.1 per cent from $80.3 million during the same period last year.

 

Hotels and packages reported an adjusted margin of $90.7 million, a 21.4 per cent increase from the $75.7 million posted in the same quarter last year.

 

Bus ticketing registered the highest year-on-year growth of 25.6 per cent, with an adjusted margin of $27.1 million, compared to $21.8 million in Q2 FY24.

 

Other services, including ancillary offerings, showed a significant increase, with adjusted margins jumping 51.0 per cent to $16.4 million from $11.0 million in the previous year.

 

“Our unwavering focus on innovation, powered by advanced technology to deliver a differentiated customer experience, has been a key driver of this progress.," said Group Chief Executive Officer of MakeMyTrip Rajesh Magow, commenting on the results.

 

He added, "We continue to be positive about the long-term outlook of India’s travel and tourism market and stay committed to further accelerating efforts to expand our supply partnerships and deepen engagement with our customers.”