India-based online travel agency MakeMyTrip has announced increases in gross bookings and net profit for the three months ended December 31, 2024.
The company saw gross bookings increase 27% to $2.6 billion in its earnings report for the fiscal third quarter of 2025. Adjusted operating profit rose to $46 million, up from $33 million year over year. Net profit for the company improved to almost $45 million, up from almost $39 million year over year. The company's revenue increased to $267 million, up from $214 million year over year.
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Air ticketing revenue increased 19% to $61 million for the quarter, up from almost $52 million on the same quarter in 2024.
Revenue for the hotels and packages business was up 17% to $147 million versus $126 million year over year. And, bus ticketing revenue of $32 million was also up in the quarter compared to $24 million the business unit brought in for the same period in 2023.
MakeMyTrip attributed the gains to increases in gross bookings generally while flights benefited from an increase in packaging and hotels took advantage of strong demand for both domestic and outbound international travel.
“The Indian travel and tourism sector is witnessing robust growth, reflecting a strong desire among travelers to explore new horizons," said Rajesh Magow, group CEO of MakeMyTrip. "While Indian destinations continue to shine, many countries have made significant efforts to attract Indian travelers. Our strong performance this quarter reflects these macro trends, along with our focused execution and commitment to customer centricity.”
“India’s young demographic shows a marked preference for exploration, boosting both domestic and outbound travel,” Magow said. “While internet penetration is widespread, with over 900 million connected users, e-commerce, particularly in travel, is growing rapidly but the gap between the two is big in absolute terms suggesting substantial growth potential for online platforms.”
In a recent PhocusWire article, Magow also said "the foundation for growth in the travel sector is solid," especially as the population seeks to invest more in experiences.
“Our robust financial performance this quarter across all lines of business underscores our strong execution of strategic priorities and the resilience of the travel sector," said Mohit Kabra, group chief financial officer of MakeMyTrip. "Our disciplined approach to cost management, combined with targeted investments in technology and customer experience, has enabled us to capitalize on growing travel demand and drive profitable growth."
Sales and marketing spend rose 31% for the quarter to $47 million, compared to $36 million in the same period of 2023.