25, Jan 2024
MakeMyTrip Quarter Results (Q3 FY24)
National, January 25, 2024 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider announced its unaudited financial and operating results for its fiscal third quarter ended December 31, 2023. Business & Financial Highlights | Q3 FY24
| Q3 FY24
($ Million) |
Q3 FY23
($ Million) |
YoY Change (Constant
Currency) |
|
| Gross Bookings | 2,088.3 | 1,738.2 | 21.7% |
| Revenue as per IFRS | 214.2 | 170.5 | 26.9% |
| Adjusted Margin | |||
| Air Ticketing | 79.2 | 70.2 | 14.2% |
| Hotels and Packages | 98.8 | 72.0 | 38.8% |
| Bus Ticketing | 26.9 | 20.3 | 33.8% |
| Others | 13.0 | 9.6 | 36.8% |
| EBITDA | 29.4 | 14.3 | |
| Results from Operating Activities | 22.6 | 7.5 | |
| Adjusted Operating Profit (Loss) (also
referred to as Adjusted EBIT) |
33.4 | 19.7 | |
| Profit / (Loss) for the period | 24.2 | 0.2 |
We delivered our highest-ever quarterly Gross Bookings, Revenue, and Profit on the back of strong travel demand during this seasonally strong
- Gross Bookings grew by 7% YoY in constant currency to $2,088.3 million in Q3 FY24 from $1,738.2 million in Q3 FY23.
- Revenue as per IFRS grew by 9% YoY in constant currency to $214.2 million in Q3 FY24 from $170.5 million in Q3 FY23.
- EBITDA grew by 6% YoY to $29.4 million in Q3 FY24 compared to $14.3 million in Q3 FY23.
- Adjusted Operating Profit registered growth of 5% YoY and reached $33.4 million in Q3 FY24 compared to $19.7 million in Q3 FY23.
Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,
“During this seasonally strong quarter, we witnessed robust demand for leisure travel across all domestic and international destinations leading to the highest-ever quarterly gross bookings, revenue, and profit for the Group. We are excited about the opportunities that lie ahead of us, as the travel and tourism sector is a focus area for the Indian government and is expected to benefit from increased investments in travel infrastructure. Additionally, from a consumer perspective, the growing disposable incomes of the middle class in India are expected to continue driving India’s travel and hospitality growth in the coming years. We remain committed to excellence and innovation, aiming to meet and exceed the diverse travel aspirations of Indian consumers.”
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- By Rabindra
