MakeMyTrip Q1 FY25 results: Net profit jumps 12.9% to $21 million

The company's revenue as per IFRS grew by 31.4% YoY in constant currency to $254.5 million in Q1 FY25 from $196.7 million in Q1FY24

MakeMyTrip on Tuesday reported a 12.9 per cent year-on-year rise in net profit at $21.0 million for the quarter that ended on June 30 in financial year 2024-25 (Q1FY25).

The company had reported a net profit of $18.6 million during the same period last year (Q1FY24).

The company's revenue as per IFRS grew by 31.4 per cent YoY in constant currency to $254.5 million in Q1 FY25 from $196.7 million in Q1FY24.

The company's adjusted operating profit registered a growth of 29.9 per cent YoY and reached $39.1 million in Q1FY25, as compared to $30.1 million in Q1FY24.

Rajesh Magow, group chief executive officer at 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."

The shares of Makemytrip closed at $89.62 on Tuesday.