Leading travel service provider MakeMyTrip Limited has reported a robust growth for the first quarter ended June 30, 2024.
Revenue as per IFRS grew by 31.4% YoY in constant currency to $254.5 million in Q1 FY25 from $196.7 million in Q1 FY24. Adjusted Operating Profit registered growth of 29.9% YoY and reached $39.1 million in Q1 FY25 compared to $30.1 million in Q1 FY24. Profit for Q1 FY25 was $21 million, including income tax expenses of $8.5 million due to a reversal of the deferred tax assets.
Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said, “We are pleased to see 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 government investments in travel infrastructure, rising disposable incomes of the middle class, and increasing propensity to travel. These drivers indicate that India’s…