MakeMyTrip Q4: Revenue Soars 38 Per Cent YoY, Gross Bookings Jump 23 Per Cent

The adjusted operating profit of the company gained 70.4 per cent to $32.4 million in the quarter under review, against $19 million in the corresponding quarter a year earlier

The travel provider witnessed robust growth across its air bookings, hotel and packages, bus ticketing, and other segments. 

Source : MakeMyTrip Facebook

MakeMyTrip posted a profit of $171.9 million in its fourth quarter (Q4) results in the 2023-24 fiscal year (FY24) on Wednesday. The travel platform said that the profit in the quarter included a one-time credit of $126.1 million ‘on recognition of deferred tax assets and a one-time gain of $30.6 million due to the change in carrying value of our convertible notes due 2028 measured at amortized cost’. 

Sharing the results via an official filing, the company said that its revenue climbed to $202.9 million in the January-March quarter in FY24, against a revenue of $148.5 million in the corresponding quarter a year earlier. The firm clocked a 38.1 per cent jump in revenue on a year-on-year (YoY) basis.

The adjusted operating profit of the company gained 70.4 per cent to $32.4 million in the quarter under review, against $19 million in the corresponding quarter a year earlier. The travel provider witnessed robust growth across its air bookings, hotel and packages, bus ticketing, and other segments. 

The company also logged a 23 per cent growth in its gross bookings in constant currency to $2,039 million in Q4FY24, against $1,673.9 million in the same period last year. 

Elaborating on the results, Rajesh Magow, Group CEO, MMT, said, “Indians are embracing the call to travel with a newfound enthusiasm with both leisure and business-related travel demand in India having crossed pre-pandemic levels. Our strategy to serve millions of our customers and first-time travellers through a comprehensive portfolio of travel and ancillary products with personalised experiences is yielding results. It has helped us deliver strong growth in a quarter that is typically a seasonally slower period for leisure travel. We are pleased that we have bounced back stronger from the COVID-19 pandemic by posting our best-ever financial performance during Fiscal year 2024 in terms of both Gross Bookings and Profit.”