India online travel agency MakeMyTrip Group (MMT) has reported its highest ever quarterly gross bookings, revenue and profit for its fiscal 2024 third quarter.
The Gurugram, India-based business reported a 20% increase in gross bookings to $2 billion while revenue increased 26% to $214 million. Adjusted net profit increased to just over $39 million compared with $16 million year over year.
Group chief executive Rajesh Magow said it was a “seasonally strong quarter” for the OTA with strong demand for both domestic and international leisure travel.
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“We are excited about the opportunities that lie ahead of us, as the travel and tourism sector is a focus area for the Indian government and is expected to benefit from increased investments in travel infrastructure,” he said. “Additionally, from a consumer perspective, the growing…