MakeMyTrip Surges Ahead with $5.4 Million Profit in Q4

MakeMyTrip achieved its highest-ever annual gross bookings in FY23, reaching USD 6.6 billion, a remarkable growth of 122% year-on-year in constant currency terms. This milestone underscores the company's strong recovery and highlights the favorable consumer sentiment that prevailed throughout the fiscal year. The robust travel demand witnessed during this period provided a solid foundation for MakeMyTrip's impressive performance.

Rajesh Magow, Group Chief Executive Officer of MakeMyTrip, expressed his satisfaction with the company's results and its strategy for future growth. He attributed their success to investing in the right areas and optimizing costs. Magow stated, "We remain well positioned for the next fiscal year with a strong pipeline of product innovation to further enhance customer experience." This positive outlook reflects MakeMyTrip's determination to capitalize on the recovering travel industry and solidify its market position.

In constant currency terms, the gross bookings for the fourth quarter grew by a remarkable 80.7% year-on-year, reaching USD 1.7 billion. MakeMyTrip also achieved its highest-ever adjusted profit of USD 19.0 million for the quarter, compared to USD 12.0 million in the same period last year. This positive trend in both gross bookings and adjusted profit showcases the company's ability to adapt to changing market dynamics and capitalize on growing travel demand.