Nasdaq-listed online travel major MakeMyTrip swung to a consolidated net profit of $1.8 Mn in the September quarter of FY27 from a loss of $5.7 Mn a year earlier, helped by higher operating profit and lower net finance costs.
Revenue rose 2.5% to $235.2 Mn from $229.3 Mn in Q2 FY26. On a constant currency basis, which excludes the impact of exchange rate movements, revenue grew 11.2%.
The company said the rupee depreciated approximately 10% against the dollar compared with the year-ago quarter, weighing on its reported revenue and growth rates. While MakeMyTrip reports its financial results in dollars, the functional currency of its major subsidiaries is the rupee.
International long-haul outbound travel from India remained subdued, with elevated fuel prices pushing up airfares and the weaker rupee increasing the overall cost of overseas trips. Strong domestic travel demand partially offset these pressures, the company said.
Gross bookings increased 11.3% to $2.72 Bn during the quarter, with growth of 20.9% on a constant currency basis.
Hotels and packages remained MakeMyTrip’s largest revenue contributor, bringing in $107.1 Mn in Q2 FY27, down 1% from $108.2 Mn a year earlier.
Meanwhile, bus ticketing revenue climbed 16.6% to $39.1 Mn from $33.5 Mn. A 24.7% increase in the number of bus tickets drove gross bookings in the segment up 20% to $435.3 Mn.
(The story will be updated soon)
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