MMT reports highest ever quarterly Gross Bookings and Adjusted Operating Profit Gross Bookings grow by 64.4% YoY to $1.74 Billion | Adjusted Operating Profit at $19.7 Million

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MMT reports highest ever quarterly Gross Bookings and Adjusted Operating Profit Gross Bookings grow by 64.4% YoY to $1.74 Billion | Adjusted Operating Profit at $19.7 Million

CHENNAI, January 31, 2023 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal third quarter ended December 31, 2022 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.

Business & Financial Highlights | Q3 FY2023

Q3 FY23($ Million)Q3 FY22($ Million)YoY Change (ConstantCurrency)
Gross Bookings1,738.21,155.764.4%
Revenue as per IFRS170.5115.061.7%
Adjusted Margin
Air Ticketing70.252.945.2%
Hotels and Packages72.054.145.3%
Bus Ticketing20.314.157.6%
Others9.65.979.1%
Results from Operating Activities7.5(6.2)
Adjusted Operating Profit (Loss) (also known asAdjusted EBIT)19.713.2
Profit / (Loss) for the period0.2(9.0)
  • Demand for leisure travel and tourism improved this quarter on the back of peak seasonality. Q3 FY23 Gross Bookings grew by 64.4% in constant currency YoY to $1.74 billion, the highest ever in our Company’s history.
  • Adjusted Operating Profit of $19.7 million in Q3 FY23, as compared to $13.2 million in Q3 FY22, the highest ever in our Company’s history, on the back of strong operating leverage.
  • Profit for the period was $0.2 million as compared to a loss of $9.0 million during same quarter last year.

Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,

“Positive consumer sentiment and peak seasonality on the back of festivals and holidays led to improved travel demand during this quarter. As a result, we recorded our highest ever quarterly Gross Bookings and Adjusted Operating Profit. Strong growth across air, hotels and bus bookings reaffirms our position as a trusted travel super-app in India.”