MakeMyTrip Q4 Results: Company posts profit of $ 171.9 million up from $ 5.4 million a year ago

MakeMyTrip reported a of $ 782.5 million for financial 2024, up from $ 593 million in fiscal year 2023. The company posted a revenue of $ 202.9 million in the fourth quarter of financial year 2024, up from $ 148.5 million in quarter four of financial year 2023.

Rajesh Magow, group of MakeMyTrip, said Indians are embracing the call to with a newfound enthusiasm with both leisure and business-related travel demand in India having crossed pre-pandemic levels.

"Our strategy to serve millions of our customers and first-time travellers through a comprehensive portfolio of travel and ancillary products with personalised

experiences is yielding results. It has helped us deliver strong in a quarter that is typically a seasonally slower period for leisure travel," he added.

The company posted a revenue of $ 202.9 million in the fourth quarter of financial year 2024, up from $ 148.5 million in quarter four of financial year 2023. Magow said the international business registered a strong growth of 33% year on year in this quarter, and that the company continues to maintain its market share of over 30% in the domestic air business.

"During Q4, the total number of departures was similar to Q3. As we mentioned last quarter, we expect the domestic supply situation to gradually start improving from the second half of the upcoming financial year," he said.

"Keeping aside the short-term headwinds, the long-term outlook for the Indian aviation sector is robust, driven by the expansion of aviation infrastructure as well as record planes ordered by the Indian carriers," he added. He said MakeMyTrip's accommodation business that includes hotels, homestays, and packages, witnessed a strong 41% year on year growth in adjusted margin in constant currency terms.

"The outlook for in India continues to be strong with most global and local chains having shared ambitious targets of signing more properties, especially in tier two tier three cities," he said.

"In the last couple of quarters, large domestic and international chains have announced plans to add over 650 properties in India on a current base of over 1,000 properties, we expect strong additions in hotel inventory across categories in the future," he added.