MakeMyTrip Ltd reports a USD 21 million profit for the June quarter, driven by strong revenue growth and a positive outlook for India’s travel and tourism sector.
The company said its June quarter profit included income tax expenses of USD 8.5 million due to a reversal of the deferred tax assets.
In the first quarter of the last fiscal, the company had posted a profit of USD 18.6 million.
Revenue as per IFRS grew 31.4 per cent year-on-year in constant currency to USD 254.5 million during the first quarter of the current fiscal from USD 196.7 million a year earlier, MakeMyTrip said in a statement.
MakeMyTrip Group CEO Rajesh Magow said the company has witnessed 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…