MakeMyTrip, India’s leading travel service provider, reported record quarterly revenue and operating profit for Q3 FY25, ending December 31, 2024, driven by a surge in Indian travel demand. The company’s strong financial performance reflects the growth of both domestic and international travel within the Indian market, leading to increased bookings and profits across all segments. MakeMyTrip attributes its success to its customer-centric approach, strategic investments, and the overall resilience of the travel sector.
MakeMyTrip’s revenue for Q3 FY25 reached USD267.4 million, a 26.2 per cent year-over-year increase from USD214.2 million in Q3 FY24. Gross bookings also saw a significant jump, rising by 26.8 per cent to USD2.61 billion compared to USD2.09 billion in the same period last year. The company’s adjusted operating profit (EBIT) reached USD46.0 million, a 37.6 per cent increase from USD33.4 million in Q3 FY24. Profit for the period was USD27.1 million, compared to USD24.2 million in the previous fiscal year.
The growth was seen across all segments of MakeMyTrip’s business. Air Ticketing experienced a 20 per cent increase. Hotels and Packages saw a 24.9 per cent rise. Bus Ticketing grew by 31.3 per cent. Other services reported a substantial 53.9 per cent increase.
“The Indian travel and tourism sector is witnessing tremendous growth, driven by a strong consumer appetite for exploration. While domestic destinations remain popular, we are also seeing a growing interest in international travel as various countries actively court Indian tourists. Our performance this quarter reflects these macro trends, supported by our ongoing focus on execution and customer-centric initiatives.”
This statement was made by Rajesh Magow, Group CEO of MakeMyTrip, commenting on the company’s performance. He highlighted the growing demand for both domestic and international travel among Indian consumers. He also emphasized MakeMyTrip’s focus on execution and customer-centric strategies as contributing factors to their success.
The findings have highlighted MakeMyTrip Group as the largest online travel agency (OTA) by revenue in India for both fiscal years 2022 and 2023, followed by ixigo Group, which includes subsidiaries ConfirmTkt and Abhibus, as the second-largest OTA. EaseMyTrip, Yatra and Cleartrip take third, fourth and fifth spot. The report highlights the importance of cost of customer acquisition and customer lifetime value as critical metrics for OTAs, and notes that the ground category—rail and intercity bus—offers high booking volumes at lower acquisition costs.
Mohit Kabra, Group CFO of MakeMyTrip, addressed the company’s financial strategy. He emphasised their disciplined approach to cost management while continuing to invest in key areas. These areas include technology and customer experience enhancements.“Our solid financial performance across all lines of business highlights our effective strategy and the resilience of the travel sector. By continuing to invest in the right areas, we have been able to harness the growing demand and achieve profitable growth,” Kabra said.
Kabra pointed to the company’s strong financial results as evidence of their successful strategy. He highlighted the resilience of the travel sector and the company’s ability to leverage the increasing travel demand for profitable growth. He reiterated the importance of continued investment in technology and customer experience.
MakeMyTrip’s Q3 FY25 results were released on January 23, 2025, in New Delhi. The company is listed on NASDAQ under the ticker symbol MMYT. The company remains optimistic about the future, anticipating continued growth in the Indian travel market. This positive outlook positions MakeMyTrip for sustained success in the dynamic travel industry.
