Results · Commerce & Consumer Brands

MakeMyTrip Q1 profit drops 65% despite revenue growth

By Startup Enthusiast · 3 August 2026

What they do

MakeMyTrip reported a 65% drop in net profit to $9.1 million in Q1 FY27, despite a 6% increase in revenue to $285.6 million

The decline was due to higher interest expenses from convertible senior notes and a weaker Indian rupee, which affected reported revenue

Domestic travel demand and seasonal factors helped offset some of the impact from weaker international travel

MakeMyTrip reported a 65% drop in net profit to $9.1 million for Q1 FY27, down from $25.8 million in the same period last year.
The company's revenue increased by 6% year-on-year to $285.6 million, but this was offset by higher interest expenses and a weaker Indian rupee.
The Indian rupee depreciated by more than 10% against the US dollar, which affected reported revenue and growth rates.
International outbound travel from India remained subdued due to the conflict in West Asia, but strong seasonal demand and improved domestic travel activity helped offset some of the impact.
Hotels and packages remained the company’s largest revenue contributor, increasing 6.7% to $151.2 million.
Bus ticketing revenue rose 15.9% to $44.9 million, while revenue from the Others segment increased 19.6% to $33.9 million.
Air ticketing revenue fell 7.5% to $55.6 million amid weaker international travel demand, although it increased 1.1% in constant-currency terms.
Gross bookings rose 19.9% to $2.85 billion in constant currency, supported by growth in hotels and packages, bus ticketing, and others.

The depreciation of the Indian rupee against the US dollar significantly affected MakeMyTrip's reported revenue and growth rates.
Higher interest expenses linked to the company's convertible senior notes due in 2030 contributed to the decline in net profit.
Despite the challenges, strong seasonal demand and improved domestic travel activity helped offset some of the impact from weaker international travel.

MakeMyTrip is an online travel platform that enables transactions across a range of travel needs, empowering customers with seamless and integrated experiences.
The company offers a comprehensive suite of travel products and services, including air tickets, hotels and alternative accommodations, holiday packages, bus tickets, rail tickets, car hire, tours and attractions, and ancillary services.
It serves a broad and diverse customer base ranging from individuals to enterprises and small and medium-sized businesses.
MakeMyTrip operates an asset-light marketplace model, connecting travelers with a broad network of suppliers, including airlines, hotels, accommodation providers, and ground transport operators.
The company has a growing presence in the United Arab Emirates, where it offers localized travel products and services such as air ticketing and hotels.

MakeMyTrip has announced plans for an initial public offering in India, which is expected to involve the sale of shares in MakeMyTrip India by its parent and ibibo Group Holdings.