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Dec 31, 2025
Makemytrip Q3 2026 Earnings Report
MakeMyTrip Limited announced its unaudited interim financial and operating results for its fiscal third quarter ended December 31, 2025.
Key Takeaways
MakeMyTrip Limited reported a revenue of $295.688 million for the fiscal third quarter of 2026, an increase of 10.6% year-over-year. The company's net income for the period was $7.284 million, with diluted earnings per share at $0.07. Adjusted Operating Profit improved to $50.707 million, and Adjusted Net Profit reached $51.381 million.
Gross Bookings increased by 11.8% year-over-year in constant currency to $2,784.5 million.
Adjusted Margin for Air Ticketing increased by 20.4% year-over-year in constant currency to $107.9 million.
Adjusted Margin for Hotels and Packages increased by 14.6% year-over-year in constant currency to $133.2 million.
Adjusted Operating Profit improved to $50.7 million in 3Q26 versus $46.0 million in 3Q25, reflecting an improvement of $4.7 million YoY.
Revenue by Segment
Forward Guidance
The company expects continued growth by expanding its wallet share with Indian travelers through comprehensive and differentiated offerings, and by improving customer experience and organizational efficiency through AI.
Positive Outlook
- Diversified product portfolio mitigating slower growth in domestic air travel.
- Strong overall growth delivered in the seasonal quarter.
- Focus on expanding wallet share with Indian travelers.
- Comprehensive and differentiated offerings for new and existing customers.
- Progressing well on AI journey to improve customer experience and organizational efficiency.
Challenges Ahead
- Marginal decrease in revenue from air ticketing business due to depreciation of the Indian rupee against the U.S. Dollar.
- Muted growth in air ticketing revenue due to exceptional supply side constraints from Indian airline carriers in the domestic market.
- Adjusted Margin % for Hotels and Packages decreased marginally to 17.7% compared to 17.9% in the prior year.
Historical Earnings Impact
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