MakeMyTrip posts double-digit growth in Q3 as hotels, packages drive demand

MakeMyTrip Limited reported strong operational performance in the fiscal third quarter ended December 31, 2025, with double-digit growth across key financial and operating metrics, supported by robust demand in hotels, packages and ancillary services .

The NASDAQ-listed travel services provider recorded gross bookings of $2,784.5 million in Q3 FY26, an increase of 11.8% year-on-year in constant currency compared with $2,612.4 million in the year-ago period. Revenue as per IFRS rose 15.4% year-on-year to $295.7 million from $267.4 million .

Adjusted margin growth remained strong across all segments. Air ticketing reported adjusted margin of $107.9 million, up 20.4% year-on-year, while hotels and packages posted adjusted margin of $133.2 million, reflecting a 14.6% increase. Bus ticketing and other segments saw sharper growth of 26.1% and 45.5%, respectively.

The company said its hotels and packages business delivered strong volume growth, with hotel-room nights rising 20.3% year-on-year during the quarter. Results from operating activities increased 17.9% year-on-year to $40.9 million, while adjusted operating profit rose to $50.7 million from $46.0 million in Q3 FY25. Profit for the period stood at $7.3 million, compared with $27.1 million a year earlier, while adjusted net profit increased to $51.4 million from $44.9 million.

Commenting on the performance, Group Chief Executive Officer Rajesh Magow said the company’s diversified portfolio of transport and accommodation options helped mitigate the impact of slower growth in domestic air travel and supported strong overall growth in a seasonal quarter.

Group Chief Operating Officer Mohit Kabra said the company’s ability to cater to a wide range of travel demands and the rapid expansion of ancillary services enabled another quarter of strong performance. He added that the launch of the ‘Travel Ka Muhurat’ sale helped tap into seasonal travel demand during the period.

In comparison, MakeMyTrip had slipped into a loss in the September quarter, reporting a net loss of $5.7 million in Q2 FY26 despite an 8.7% year-on-year increase in revenue to $229.3 million. The company had posted a profit of $17.9 million in the year-ago period. Kabra attributed the Q2 loss primarily to non-cash finance costs, including $24.3 million in interest expense on zero-coupon notes and a foreign exchange loss of $14.3 million following sharp rupee depreciation.

Also read: MakeMyTrip swings to $5.7 million loss in Q2 despite 8.7% revenue growth

MakeMyTrip shares closed 0.93% higher at $74.59 on the NASDAQ, gaining $0.69 in today’s trade.