Overview
- MakeMyTrip reported Monday that constant‑currency gross bookings rose 19.9% and IFRS revenue increased 16.1% to $285.6 million, with adjusted operating profit of $51.4 million.
- Consolidated net profit fell 65% year on year to $9.1 million, and net finance costs jumped to $28.3 million largely because of higher interest on the company’s convertible senior notes due 2030.
- Non‑air segments drove the quarter as hotels and packages, standalone hotel volumes and bus ticketing posted strong growth and helped offset a 7.5% decline in air‑ticketing revenue to $55.6 million.
- MakeMyTrip said its Myra 2.0 AI platform handled millions of conversations during the quarter, resolved more than half of post‑booking queries and is being used to automate much customer support and internal code generation.
- The company has confidentially filed for a proposed IPO of its Indian subsidiary to raise money for growth, acquisitions and security repurchases, but timing and deal terms remain undisclosed.