MakeMyTrip records highest quaterly gross bookings; hotels and packages segment see 38.8 percent growth

MakeMyTrip recorded its highest-ever quarterly gross bookings, revenue and profit in the December quarter of FY24, driven by robust demand during the seasonally strong quarter. The company reported profit of $24.2 million in Q3 FY24, up from $0.2 million year-on-year (YoY). Adjusted operating profit registered growth of 69.5 percent YoY and reached $33.4 million in Q3 FY24 compared to $19.7 million in Q3 FY23, as per Moneycontrol.

Revenue grew by 26.9 percent YoY to $214.2 million in Q3 FY24 from $170.5 million in Q3 FY23. The OTA registered 21.7 percent increase in gross bookings YoY to $2,088.3 million in Q3 FY24 from $1,738.2 million.

Hotels and packages segment saw highest growth in terms of adjusted margin at $98.8 million from $72 million, up 38.8 percent.

“Our accommodation business which includes hotels, homestays, and packages witnessed strong year on year and quarter on quarter growth in the seasonally strong quarter. During the quarter, we touched our highest ever single…