MakeMyTrip back in black, swings into USD 1.8 mn profit in Q2

New Delhi, Oct 26 (PTI) Nasdaq-listed travel services provider MakeMyTrip on Monday reported a net profit of USD 1.8 million for the second quarter ended September, driven by revenue growth.

The Gurugram-headquartered firm posted a net loss of USD 5.7 million in the year-ago period.

During the July-September quarter, its adjusted net profit before tax rose 26.9 per cent to USD 46.2 million in constant currency from USD 36.4 million a year ago, it said in a statement.

Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said, “We delivered strong growth despite a challenging travel environment, with Gross Bookings increasing 20.9 per cent year on year in constant currency to USD 2.7 billion. Growth in hotels and ground transport underscored

the resilience of our diversified portfolio and our ability to serve evolving customer needs”.

“We are using AI to simplify travel planning and booking, supported by our extensive supply network, integrated distribution platform and trusted service. We continue to invest with discipline to capture India’s long-term travel opportunity and deliver sustainable, profitable growth.”

During the July-September quarter, MakeMyTrip’s gross bookings grew 20.9 per cent to USD 2,724.7 million from USD 2,447.3 million a year ago.

Revenue as per IFRS (International Financial Reporting Standards) grew 11.2 per cent year-on-year to USD 235.2 million from USD 229.3 million, MakeMyTrip said. PTI RSN RSN BAL

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