Results · Professional & Local Services

MakeMyTrip profit falls 73% on finance costs

By Startup Enthusiast · 21 January 2026

What they do

Q3 FY26 net profit dropped 73% to $7.3 million due to $24.2 million interest on convertible senior notes due 2030

Adjusted profit rose 15% to $51.4 million, and gross bookings grew 12% to $2.78 billion

The company raised $3.1 billion in capital and is merging redBus into its India unit

MakeMyTrip reported a 73% year-on-year drop in net profit to $7.3 million for Q3 FY26.
The profit fall was driven by a $24.2 million interest expense on convertible senior notes due 2030.
Operating revenue rose 11% year-on-year to $295.7 million.
Gross bookings increased 12% to $2.78 billion.
The company raised $3.1 billion through a mix of ordinary shares and zero-coupon convertible notes.
Adjusted net profit, excluding finance costs, grew 15% to $51.4 million.
Hotels and packages revenue rose 10% to $161.4 million, while bus ticketing grew 37% to $37.1 million.
Air ticketing revenue fell 2% to $60 million.

Adjusted profit and revenue growth show the core travel business remains healthy.
The redBus merger with the India subsidiary is part of a restructuring to simplify operations.
The capital raise strengthens the balance sheet for future growth or acquisitions.

MakeMyTrip operates an online travel platform for flight, hotel, and bus bookings.
It generates revenue from service fees, commissions, and packaging of travel products.
Hotels and packages contribute the largest share of revenue at 54%.
Air ticketing accounts for 20% of revenue, and bus ticketing for about 13%.
The company operates in India and international markets, with headquarters in Gurugram.
It is listed on NASDAQ and serves both leisure and business travelers.

The redBus merger is expected to be effective during FY27 after filing with the Registrar of Companies.
The company may use the raised capital for growth initiatives or potential acquisitions.