MakeMyTrip reports 26.5% revenue growth in Q2FY20, profit rises to US$17.9 million, ET Travelworld

MakeMyTrip, India’s leading online travel services provider, reported strong financial performance in its fiscal second quarter ended September 30, 2024, despite traditionally being a slow travel season. The company reported year-on-year (YoY) growth of 26.5 per cent at US$211 million as against US$168.7 million in Q2FY24.

Gross bookings also increased by 24.3 percent to US$2.26 billion during the quarter, indicating continued demand for travel services. MakeMyTrip’s adjusted operating profit (also known as adjusted EBIT) grew 32.9 per cent year-on-year to US$37.5 million from US$28.2 million in Q2FY24, while profit for the period increased to US$17.9 million. USD, which is a significant jump from US$2.0 million. That was reported in the same quarter last year.

MakeMyTrip Group Chief Executive Officer Rajesh Mago expressed satisfaction over the company’s performance. “We are pleased to achieve sustained growth in a seasonally slow quarter. Our unwavering focus on innovation, driven by advanced technology to deliver a differentiated customer experience, has been the key driver of this growth,” he said.

Segment Display:
-Air Ticketing: Air ticketing revenues grew 21.1 percent year-on-year to US$96 million, up from US$80.3 million in Q2FY20.
– Hotels and Packages: This segment recorded a 21.4 percent growth in revenue, reaching US$90.7 million compared to US$75.7 million last year.
– Bus Ticketing: The bus ticketing business saw strong growth of 25.6 percent year-on-year, with revenues rising to US$27.1 million.
– Other Services: Revenue from other services increased 51 percent to US$16.4 million, compared to US$11 million in Q2FY20.

Looking ahead, Mago reaffirmed MakeMyTrip’s commitment to India’s growing travel and tourism market, saying, “We remain positive about the long-term outlook and look forward to expanding our supply partnerships and deepening engagement with our customers. “Are focused on doing.”

Join a community of 2M+ industry professionals

Subscribe to our newsletter to receive the latest information and analysis.

Download ETTravelWorld App

• Get realtime updates
• Save your favorite articles

scan to download app