MakeMyTrip Hits New Milestone With Top Gross Bookings And Revenue Figures Surpassing $2.3 Billion

Tuesday, July 23, 2024

MakeMyTrip Limited, the foremost provider of travel services in India, has released its preliminary financial and operational figures for the first fiscal quarter, which concluded on June 30, 2024. These figures can be accessed on www.sec.gov and the company’s investor relations page at http://investors.makemytrip.com.

Financial and Business Overview | Q1 FY25

Comparison with Q1 FY24:

Key Points:

• The company’s revenue under IFRS standards surged by 31.4% on a year-over-year basis to $254.5 million in Q1 FY25, up from $196.7 million in the prior year.
• Adjusted operating profits saw a significant increase of 29.9% year-over-year, climbing to $39.1 million in Q1 FY25 from $30.1 million in Q1 FY24.
• The net profit for the period stood at $21 million, which includes income tax expenses of $8.5 million related to the reversal of deferred tax assets.

Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,
“We are pleased to see a robust start to this fiscal year. We believe that the long-term growth story of India’s
travel and tourism sector is fuelled by multiple macroeconomic drivers like increasing government
investments in travel infrastructure, rising disposable incomes of the middle class, and increasing propensity
to travel. These drivers indicate that India’s travel and tourism industry growth is expected to be higher than
the country’s GDP growth rate. We aim to continue to drive our growth by capitalising on the shift from
offline to online buying and expanding our customer base and wallet share.”