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Jun 30, 2025
Makemytrip Q1 2026 Earnings Report
MakeMyTrip reported solid Q1 FY26 results with higher gross bookings, strong bus ticketing growth, and improved profitability despite travel disruptions.
Key Takeaways
MakeMyTrip posted adjusted revenue (Adjusted Margin) of $283.03M, driven by strong bus ticketing and other segments, while air ticketing and hotel packages faced temporary headwinds. Adjusted net profit and operating profit improved year-over-year, supported by increased gross bookings and higher travel demand across categories.
Adjusted revenue (Adjusted Margin) grew 16.1% YoY to $283.03M, led by bus ticketing and other travel services.
Adjusted Net Profit rose 11% YoY to $49.4M, while Adjusted Operating Profit increased 21% to $47.3M.
Gross Bookings rose 9.6% YoY to $2.61B, supported by a 32.6% increase in bus tickets and a 17% increase in hotel room nights.
Flight segments increased 5% YoY, signaling resilient demand despite temporary geopolitical and travel disruptions.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
MakeMyTrip expects steady travel demand recovery in the coming quarters as geopolitical and supply disruptions ease, with continued strong performance in bus ticketing and hotels.
Positive Outlook
- Gross bookings expected to remain robust across all travel segments
- Bus ticketing growth momentum to continue with rising intercity travel demand
- Hotel bookings expected to benefit from growing domestic leisure travel
- Operational efficiencies to support margin expansion despite marketing spend
- Gradual recovery in air travel demand as supply disruptions ease
Challenges Ahead
- Geopolitical uncertainties may still affect near-term leisure travel demand
- Hotels and packages segment may face short-term pricing pressure
- Fuel price volatility could impact flight pricing and air travel demand
- Macroeconomic uncertainties may weigh on discretionary travel spending
Historical Earnings Impact
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Avg. Return Before/After Earnings
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