Disruption in air-ticketing business ended up benefiting bus-ticketing and other transport businesses, said MakeMyTrip officials during a shareholder’s meeting for FY24. As per the company’s financial result, it had a gross booking value of nearly $8 billion for FY24. Further, gross booking value for Q4 was more than $2 billion, growing at 23 percent year-on-year in constant currency terms, and the adjusted operating profit was $32.4 million, registering a growth of over 70 percent year-on-year, said Rajesh Magow, Co-Founder & Group Chief Executive Officer, during a shareholder’s call.
Following the financial results, MakeMyTrip talked about its future expectations for its various businesses for the next year. Officials were particularly optimistic about the transport business despite low online penetration in India. The company also talked about pursuing opportunistic sale repurchases or buybacks considering improving cash generation in the business.
“As reported in…