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MakeMyTrip delivers its highest-ever quarterly Gross Bookings, Revenue and Profit Q3 EBITDA grew by +105.6% YoY to $29.4 Million
National, January 23, 2024 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal third quarter ended December 31, 2023 as attached herewith and
National, January 23, 2024 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal third quarter ended December 31, 2023 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.
Business & Financial Highlights | Q3 FY24
| Q3 FY24 ($ Million) | Q3 FY23 ($ Million) | YoY Change (Constant Currency) | |
| Gross Bookings | 2,088.3 | 1,738.2 | 21.7% |
| Revenue as per IFRS | 214.2 | 170.5 | 26.9% |
| Adjusted Margin | |||
| Air Ticketing | 79.2 | 70.2 | 14.2% |
| Hotels and Packages | 98.8 | 72.0 | 38.8% |
| Bus Ticketing | 26.9 | 20.3 | 33.8% |
| Others | 13.0 | 9.6 | 36.8% |
| EBITDA | 29.4 | 14.3 | |
| Results from Operating Activities | 22.6 | 7.5 | |
| Adjusted Operating Profit (Loss)(also referred to as Adjusted EBIT) | 33.4 | 19.7 | |
| Profit / (Loss) for the period | 24.2 | 0.2 |
- We delivered our highest-ever quarterly Gross Bookings, Revenue and Profit on the back of strong travel demand during this seasonally strong quarter.
- Gross Bookings grew by 21.7% YoY in constant currency to $2,088.3 million in Q3 FY24 from $1,738.2 million in Q3 FY23.
- Revenue as per IFRS grew by 26.9% YoY in constant currency to $214.2 million in Q3 FY24 from $170.5 million in Q3 FY23.
- EBITDA grew by 105.6% YoY to $29.4 million in Q3 FY24 compared to $14.3 million in Q3 FY23.
- Adjusted Operating Profit registered growth of 69.5% YoY and reached $33.4 million in Q3 FY24 compared to $19.7 million in Q3 FY23.
“During this seasonally strong quarter, we witnessed robust demand for leisure travel across all domestic and international destinations leading to the highest-ever quarterly gross bookings, revenue, and profit for the Group. 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. Additionally, from a consumer perspective, the growing disposable incomes of the middle class in India are expected to continue driving India’s travel and hospitality growth in the coming years. We remain committed to excellence and innovation, aiming to meet and exceed the diverse travel aspirations of Indian consumers.”
Rajesh Magow, Group Chief Executive Officer, MakeMyTrip
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