Travel booking website MakeMyTrip (MMT) reported record Q1 FY25 gross bookings at $2.38 billion—a 20.2% increase from $1.98 billion worth of bookings made in the previous fiscal.
The NASDAQ-listed company’s profit for the three months ended June 30, 2024 stood at $21 million, up by 12.9% from $18.6 million in Q1 FY24.
Revenue rose by 29.3% to $254.5 million in Q1 FY25, from $196.7 million earned in the same period of the previous financial year, as per consolidated financial statements filed with the United States Securities and Exchange Commission.
Of the $254.5 million total revenue, $57.5 million came from air ticketing, which grew 25.3% YoY. Hotel packages, which bring in the most revenues for MMT, contributed $146.8 million—a 27.4% YoY increase. Bus ticketing and other revenues contributed $29.3 million and $20.9 million, respectively.
The increase in revenue from the air ticketing business was mainly due to a 15.2% YoY rise in gross bookings. This was driven by a 14.1% YoY…
