 "MakeMyTrip Q3 results: Profit up 12% at $27.1 mn led by hotel bookings")
MakeMyTrip (MMT), the Nasdaq-listed online travel aggregator, on Thursday reported 11.8 per cent rise in profit at $27.1 million for the third quarter (Q3) of the financial year 2024-25 (FY25) from $24.2 million reported during the same quarter last year.
The company's revenue surged by 24.8 per cent, reaching $267.4 million, up from $214.2 million year-on-year. In a statement regarding the results, the company highlighted that "the increase in revenue was primarily due to strong travel demand in India for both domestic and international outbound travel in the quarter ended December 31, 2024."
Segment-wis growth
This growth was primarily driven by MMT's hotels and packages segment, which generated $121.9 million in Q3 FY25, reflecting a year-on-year increase of 24.9 per cent. Notably, the bus ticketing segment experienced the most significant revenue growth, soaring by 31.3 per cent to $35 million. “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 Chief Executive Officer Rajesh Magow said commenting on the results. ALSO READ: Dr Reddy's Lab Q3 results: Profit up 2.5% at Rs 1,413 cr, revenue rises 16%
The air ticketing business also contributed positively, with revenue increasing by 20 per cent to $93.8 million during the same period. MakeMyTrip attributed this robust performance to a surge in travel demand across India for both domestic and international outbound travel.
“Our disciplined approach to cost management, combined with targeted investments in technology and customer experience, has enabled us to capitalise on growing travel demand and drive profitable growth," Group Chief Financial Officer Mohit Kabra added.