MakeMyTrip's Q3 FY25 Results Highlight Travel Sector Resurgence The company also posted a 37.6 per cent increase in adjusted operating profit, which rose to $46.0 million from $33.4 million in the same quarter last year, while net profit for the period improved to $27.1 million, up from $24.2 million
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Travel services provider, MakeMyTrip Limited, has reported impressive financial results for the fiscal third quarter ended December 31, 2024, reflecting the sustained recovery and growing momentum in the travel and tourism industry. The company's unaudited quarterly report highlights significant growth across all segments, underpinned by a renewed appetite for travel among Indian consumers.
Revenue under International Financial Reporting Standards (IFRS) climbed 26.2 per cent year-on-year(YoY) in constant currency to $267.4 million in Q3 FY25, compared to $214.2 million in Q3 FY24. Gross bookings surged by 26.8 per cent to reach $2,612.4 million, further emphasizing the robust recovery in travel demand. The company also posted a remarkable 37.6 per cent increase in adjusted operating profit, which rose to $46.0 million from $33.4 million in the same quarter last year, while net profit for the period improved to $27.1 million, up from $24.2 million.
Segment-wise performance was equally robust, with adjusted margins across all key verticals showing healthy growth. The air ticketing business saw a 20.0 per cent year-on-year increase, generating $93.8 million in Q3 FY25 compared to $79.2 million in Q3 FY24. The hotels and packages segment, which has become a cornerstone of MakeMyTrip's offerings, grew by 24.9 per cent to $121.9 million. The bus ticketing segment also recorded stellar growth, increasing 31.3 per cent year-on-year to reach $35.0 million, while other services surged by 53.9 per cent, contributing $19.8 million to overall revenues.
Commenting on the results, Rajesh Magow, Group CEO, said, "The Indian travel and tourism sector is witnessing robust growth, reflecting a strong desire among travelers to explore new horizons. While Indian destinations continue to shine, many countries have made significant efforts to attract Indian travelers. Our strong performance this quarter reflects these macro trends, along with our focused execution and commitment to customer centricity."
Group CFO Mohit Kabra added, "Our robust financial performance this quarter across all lines of business underscores our strong execution of strategic priorities and the resilience of the travel sector. Our disciplined approach to cost management, combined with targeted investments in technology and customer experience, has enabled us to capitalize on growing travel demand and drive profitable growth."
