MakeMyTrip delivers highest-ever Gross Bookings and Revenue

July 23, 2024 — MakeMyTrip Limited (NASDAQ: MMYT), India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal 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 travel and tourism industry growth is expected to be higher than the country’s GDP growth rate. We aim to continue to drive our growth by capitalising on the shift from offline to online buying and expanding our customer base and wallet share.”

Company :-Avian WE

User :- Tanupriya Choudhary

Email :-tanupriyac@avianwe.com