© Reuters.
MakeMyTrip Limited (NASDAQ: MMYT) has reported a significant upswing in its fiscal 2024 third-quarter earnings, achieving record-high quarterly gross bookings, revenue, and profit. The company witnessed a 21.7% year-over-year growth in gross bookings, which amounted to $2.5 billion. Revenue and adjusted operating profit followed suit, with a 26.9% and 70% YoY increase respectively, culminating in revenue of $14.2 million and adjusted operating profit of $33.4 million. The optimism surrounding the travel industry’s growth, particularly in India, was palpable during the earnings call, as the company’s leadership discussed various factors contributing to this positive trend.
Key Takeaways
- MakeMyTrip’s gross bookings surged to $2.5 billion, a 21.7% increase YoY.
- Revenue and adjusted operating profit grew by 26.9% and 70% YoY, reaching $14.2 million and $33.4 million respectively.
- The air ticketing business, despite supply challenges, expects an improvement in the next…