MakeMyTrip on Wednesday reported a 9X jump in its second-quarter profit to $17.9 million led by a sharp rise in its air ticketing and hotels and packages business.
The travel service provider’s gross bookings jumped 24.3% to $2.26 billion in Q2 FY25, while revenue rose to $211 million from $168.7 million compared to a year ago.
“We are pleased to have achieved sustained growth in a seasonally slow quarter,” said Rajesh Magow, Group Chief Executive Officer (CEO) at
.In recent times, India has seen a stark increase in the number of passengers flying abroad and going on more domestic trips. According to a study by Phocuswright, a travel, tourism, and hospitality market research company, India’s total travel gross bookings increased by 72% to $33.2 billion in 2022, and the trend is expected to sustain.
For 2023, the company forecasts a similar double-digit increase in bookings.
The expansion of the middle class and youngsters on their first or second jobs, especially those…