Earnings summaries and quarterly performance for MakeMyTrip.
Research analysts who have asked questions during MakeMyTrip earnings calls.
Manish Adukia
Goldman Sachs
6 questions for MMYT
Sachin Salgaonkar
Bank of America
6 questions for MMYT
Also covers: GRAB, SE
Vijit Jain
Citigroup Inc.
6 questions for MMYT
AS
Aditya Suresh
Macquarie Group
4 questions for MMYT
Also covers: SNPMF
AR
Ankur Rudra
JPMorgan Chase & Co.
3 questions for MMYT
Also covers: INFY, WIT
Gaurav Rateria
Morgan Stanley
3 questions for MMYT
Also covers: INFY, WIT
Manik Taneja
Axis Capital
3 questions for MMYT
Also covers: INFY, WIT
Gautam Chhugani
Bernstein
2 questions for MMYT
Also covers: HOOD
AC
Aditya Chandrasekar
UBS Group
1 question for MMYT
Recent press releases and 8-K filings for MMYT.
MakeMyTrip Reports Strong Q3 2026 Demand Recovery and AI-Powered Growth
MMYT
Earnings
Product Launch
Revenue Acceleration/Inflection
- MakeMyTrip (MMYT) experienced strong demand recovery in Q3 2026, despite a temporary disruption in December impacting domestic air travel due to new flight duty time limitation rules for pilots.
- The company's AI-powered assistant, Mira, has scaled significantly to over 50,000 daily conversations, with 72% being good quality, and is helping resolve about half of customer queries autonomously.
- MMYT expanded its product offerings with the launch of tours and activities, providing access to over 200,000 bookable activities across 1,100 cities in 130 countries.
- Key segments demonstrated robust performance: air ticketing adjusted margin grew 20.4%, accommodation volume increased 20.3%, bus ticketing adjusted margin rose 26.1%, and the ancillaries segment saw 45.5% growth year-on-year in constant currency.
- Standalone hotel room nights grew 20.6%, with the non-premium segment accelerating 23% year-on-year, driven by GST rationalization.
Jan 21, 2026, 12:30 PM
MMYT Reports Strong Q3 2026 Financial Performance and AI-Powered Product Expansion
MMYT
Earnings
Product Launch
Share Buyback
- MakeMyTrip (MMYT) reported a strong Q3 FY2026, achieving its first $50 million-plus adjusted operating profit at $50.7 million and an adjusted net profit of $51.4 million, resulting in 33% year-on-year growth in adjusted diluted EPS.
- The company saw robust growth across segments, with air ticketing adjusted margin increasing 20.4% year-on-year to $107.9 million and accommodation business volume growing 20.3% year-on-year, despite a December disruption in domestic air travel.
- Strategic product developments include the AI-powered Myra scaling to over 50,000 daily conversations and the launch of tours and activities, offering access to over 200,000 bookable experiences globally.
- MMYT also executed $46.1 million in its buyback program, repurchasing 0.55 million shares and $5 million in 2030 notes, concluding the quarter with over $800 million in cash equivalents.
Jan 21, 2026, 12:30 PM
MakeMyTrip Reports Strong Q3 2026 Performance Driven by Demand Recovery and Segment Growth
MMYT
Earnings
Revenue Acceleration/Inflection
Product Launch
- MakeMyTrip (MMYT) reported strong Q3 fiscal 2026 performance with robust demand recovery, despite a temporary disruption in December from new flight duty time limitation rules (FDTL) for pilots.
- Air ticketing adjusted margin increased by 20.4% year-on-year in constant currency, primarily due to strong international travel, and the company's domestic air market share grew to over 31%.
- The accommodation business saw 20.3% year-on-year volume growth, with standalone hotels growing 20.6%, significantly boosted by a GST reduction on hotel rooms under ₹7,500, though gross booking growth was a more moderate 15.9% due to the lower tax component.
- MMYT's AI model, Mira, has scaled to over 50,000 daily conversations with 72% deemed good, and 45% of users from tier-two cities and beyond, enhancing customer engagement and penetration.
- The bus ticketing adjusted margin grew over 26.1% year-on-year in constant currency, and the ancillaries segment (other) adjusted margin increased 45.5% year-on-year in constant currency, indicating diversified growth.
Jan 21, 2026, 12:30 PM
MakeMyTrip Announces Q3 FY26 Financial and Operating Results
MMYT
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- MakeMyTrip Limited reported its unaudited financial and operating results for the third quarter of fiscal 2026, which ended December 31, 2025.
- The company achieved Gross Bookings of $2,784.5 million and Revenue as per IFRS of $295.7 million in Q3 FY26, representing YoY constant currency growth of 11.8% and 15.4%, respectively.
- Adjusted Operating Profit for Q3 FY26 reached $50.7 million, and Adjusted Net Profit was $51.4 million.
- The Hotels and Packages business demonstrated strong volume growth of 20.3% YoY based on hotel-room nights in Q3 FY26.
Jan 21, 2026, 11:21 AM
MakeMyTrip Limited Announces Fiscal 2026 Third Quarter Results
MMYT
Earnings
Share Buyback
Revenue Acceleration/Inflection
- MakeMyTrip Limited reported revenue of $295.7 million for the fiscal third quarter ended December 31, 2025, an increase of 10.6% year-over-year, with Gross Bookings growing by 11.8% to $2,784.5 million.
- Adjusted Operating Profit improved to $50.7 million and Adjusted Net Profit increased to $51.4 million in Q3 2026.
- However, IFRS Profit for the period significantly decreased by 73.1% to $7.3 million for the quarter ended December 31, 2025, primarily due to a substantial increase in net finance costs to $27.7 million from $4.8 million in the prior year, driven by interest expense on convertible senior notes due 2030.
- During the quarter, the company repurchased 550,000 ordinary shares for $41.5 million and $5.0 million in 2030 Notes for $4.6 million, with $153.9 million remaining under the repurchase program as of December 31, 2025.
Jan 21, 2026, 11:06 AM
MMYT Reports Q2 2026 Adjusted Operating Profit Growth and Strategic Updates
MMYT
Earnings
Product Launch
Share Buyback
- MakeMyTrip reported an adjusted operating profit of $44.2 million for Q2 Fiscal Year 2026, marking an 18% year-on-year increase, despite a net loss of $5.7 million primarily due to non-cash interest costs and foreign currency losses.
- The company experienced robust growth in its international business, with international air ticketing revenue growing over 29.6% year-on-year and international hotels revenue growing over 42% year-on-year in constant currency, contributing 28% to overall revenue.
- The bus ticketing segment also demonstrated strong performance with adjusted margin growth of 44.1% year-on-year in constant currency, while the domestic air market maintained over 30% market share despite supply constraints.
- MakeMyTrip launched the beta version of its AI-powered conversational travel assistant, Mira, in August 2025, which has quickly scaled to over 25,000 conversations daily.
- The share buyback program was extended to March 31, 2030, with the balance increased to $200 million and the annual limit raised to $100 million. The company anticipates growing in the 20s for the full fiscal year in terms of adjusted margin.
Oct 28, 2025, 11:30 AM
MakeMyTrip Reports Strong Q2 2026 Adjusted Operating Profit and International Growth
MMYT
Earnings
Product Launch
Management Change
- MakeMyTrip reported a Q2 2026 adjusted operating profit of $44.2 million, representing an 18% year-on-year growth, and an improved adjusted operating margin of 1.8% of gross booking value.
- The international business was a key growth driver, with international air ticketing revenue increasing 29.6% and international hotels revenue growing 42% year-on-year in constant currency, now contributing 28% to overall revenue.
- The company launched its AI-powered conversational travel assistant, Myra, in August 2025, which is currently handling over 25,000 conversations daily to enhance customer experience and productivity.
- Despite challenges in the domestic air market, the accommodation business delivered 18% volume growth, bus ticketing adjusted margin grew 44.1%, and the "Others" category adjusted margin increased 29.7% year-on-year in constant currency.
- MakeMyTrip anticipates achieving overall adjusted margin growth in the twenties for the full fiscal year and announced leadership changes, including Mohit's elevation to Group Chief Operating Officer and Deepak Bora's appointment as Group CFO.
Oct 28, 2025, 11:30 AM
MakeMyTrip Reports Q2 2026 Financial Results with Strong International and Accommodation Growth
MMYT
Earnings
Product Launch
Share Buyback
- MakeMyTrip reported an adjusted operating profit of $44.2 million for Q2 FY26, representing 18% year-on-year growth. However, the company recorded a net loss of $5.7 million for the quarter, primarily due to a $24.3 million non-cash interest cost from 2030 convertible notes and a $14.3 million foreign currency loss.
- The company experienced robust growth in its international business, with international air ticketing revenue growing over 29.6% year-on-year and international hotels revenue growing over 42% year-on-year in constant currency, contributing 28% to overall revenue. The accommodation business also delivered 18% volume growth year-on-year.
- Despite a 3% year-on-year decline in the domestic air market due to supply constraints, MakeMyTrip maintained its market share of 30% plus. The company also launched the beta version of its AI-powered conversational travel assistant, Myra, in August 2025, which handles over 25,000 conversations daily.
- The share buyback program was updated, increasing the balance to $200 million and the annual limit to $100 million, now including 2013 notes and 2030 convertible notes.
Oct 28, 2025, 11:30 AM
MakeMyTrip Limited Announces Fiscal Q2 2026 Results
MMYT
Earnings
Share Buyback
Debt Issuance
- MakeMyTrip Limited reported a revenue increase of 8.7% to $229.3 million and Gross Bookings growth of 8.4% to $2,447.3 million for the fiscal second quarter ended September 30, 2025.
- The company recorded a profit loss of $5.738 million for the period, a 132.0% decrease compared to the prior year, primarily impacted by a significant increase in net finance costs to $35.9 million due to interest expense on 2030 Notes.
- Despite the net loss, Adjusted Operating Profit improved by $6.7 million to $44.2 million in Q2 2026.
- The company's share repurchase plan was amended on October 28, 2025, authorizing repurchases of up to $200.0 million of ordinary shares and convertible notes, with a $100.0 million sub-limit per fiscal year, effective until March 31, 2030.
Oct 28, 2025, 10:47 AM
MakeMyTrip Announces Key Leadership Changes
MMYT
Management Change
CFO Change
- MakeMyTrip Limited announced strategic leadership changes on September 23, 2025, with Mohit Kabra elevated to Group Chief Operating Officer and Dipak Bohra appointed as Group Chief Financial Officer.
- Mohit Kabra, previously Group CFO, will now oversee day-to-day operations across all business units and will continue to report to Rajesh Magow, Co-Founder and Group CEO.
- Dipak Bohra brings three decades of extensive finance experience and will report to Mohit Kabra, providing strategic leadership to the company's finance, legal and compliance, and investor relations functions.
Sep 23, 2025, 12:40 PM
Quarterly earnings call transcripts for MakeMyTrip.
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