MakeMyTrip (MMT) reported a 9% increase to revenue of $229
million for the quarter ended September 30, 2025, attributing the growth to “robust travel demand”
domestically as well as outbound.
Reporting its fiscal 2026 second quarter, the India-based online
travel agency said the increase was primarily down to air ticketing revenue,
hotels and packages revenue and earnings from other business lines.
Gross bookings for the quarter were up 13% to $2.4 billion
while adjusted operating profit totaled $44 million, up from $37.5 million for the
same quarter in 2024.
The company reported a net loss of almost $6 million for the
quarter, compared to a profit of $18 million in the same quarter in 2024.
“It was encouraging to see travel sentiments improve in Q2, especially in the leisure segment, following a muted Q1 of this fiscal year due to external disruptions,” said Rajesh Magow, group CEO of MMT. “Most of our segments experienced strong growth, although recovery in domestic air travel remained slow due to short-term supply constraints. We delivered strong growth, particularly in international travel as well as non-flight segments within domestic travel.”
Magow also shared an update on MMT's progress with artificial intelligence (AI) and said it was at the "center of our core strategy for us to enhance customer experience and improve productivity."
Earlier this year the company unveiled unveiled Myra, a beta version of its AI-powered travel assistant.
“The initial response has been encouraging for collection of consumer insights as travelers begin to interact with this new interface. In a short span of time, the agent has scaled to over 25,000 converse conversations daily,” Magow said.
He also said that more than 35% of travelers begin engaging with Myra up to 90 days before their trip, using it for exploration and planning. And one in four users come back to the assistant for help with elements such as itineraries, visa queries, hotels and experiences.
Further AI developments include the launch of a generative AI-powered pre-sales chatbot to provide information and make recommendations to customers.
“This bot-plus-assist approach drives a high conversion rate compared to traditional agent led assistance for users who interact with it. We are expanding the bot's capabilities with the new agentic seller persona for advanced search and quick actions while continuously improving accuracy and chat quality,” Magow said.
MMT also recently launched an AI voice agent to handle customer queries for flights and hotels.
MakeMyTrip Q2 2026 earnings breakdown
Air ticketing revenue was $61 million for the quarter, on par with the same quarter a year ago, while adjusted margin in air ticketing
increased 7% to nearly $103 million.
Revenue for the hotels and package business increased almost
5% to $108 million for the quarter compared to $103 million year over year. Adjusted
margin for hotels and packages increased almost 17% to $106 million compared to
$91 million year over year. The increases were attributed to a 13% uptick in
gross bookings and an 18% increase in room nights.
Bus ticketing revenue rose 35% to $33.5 million for the
quarter compared to $25 million for the same quarter in 2024. Adjusted margin for
bus ticketing was up 39% to almost $38 million, again driven by an increase in
gross bookings and number of tickets traveled.
Mohit Kabra, MMT's group COO said the company “continued
to leverage our travel super-app approach, offering comprehensive travel and
related services across our platforms for retail, trade and corporate
customers.”
“This strategy helped us achieve robust growth despite
generally weaker travel demand, especially in Q1. We believe that the direct
tax concessions and GST benefits introduced by the government of India will
boost discretionary consumer spending and drive growth in the second half of
the fiscal year.”
Revenue from other businesses increased 21% to almost $27
million for the quarter compared to $22 million year over year. Sales and marketing costs for the quarter increased 6% to $38 million, up
from $36 million for the same quarter in 2024.