MakeMyTrip Q1FY24 results: Net profit at $18.6 million, revenue up 37%

The company's Ebitda saw a rise of 131.25% to $25.9 million in Q1FY24, as compared to $11.2 million YoY

The net profit of MakeMyTrip (MMT) for the first quarter of the current financial year (Q1YFY24) stood at $18.6 million, the company said in a press release.

However, in Q1FY23, the net loss stood at $10 million.

The revenue for Q1FY24 came in at $196.7 million, compared to $142.7 million year-on-year (YoY). This is a rise of 37.84 per cent.

The company's consolidated earnings before interest tax, depreciation and amortisation (Ebitda) saw a rise of 131.25 per cent to $25.9 million in Q1FY24, as compared to $11.2 million in the corresponding period of the previous year.

Rajesh Magow, group chief executive officer, MakeMyTrip, said, “We have started the new financial year on a positive note, delivering our strongest ever quarter with all-time high gross bookings and profits. Travel demand across customer segments stayed robust in a seasonally strong quarter for leisure travel. The depth of travel-related offerings and quality customer experience that we deliver, powered by robust technology and product innovations, along with our strong brand are helping us cater to the evolving consumer preferences and stay ahead of the market.”