MakeMyTrip has reported a 26.2% year-on-year growth in revenue for Q3 FY25, reaching $267.4 million, up from $214.2 million in Q3 FY24.
This growth was driven by a significant increase across various business segments, including an 18.6% rise in air ticketing revenue, a 17.2% increase in revenue from hotels and packages, a 31.7% rise in bus ticketing revenue, and a 110.7% surge in revenue from other businesses. The company attributed the strong revenue performance to heightened travel demand in India, particularly for both domestic and international outbound travel during the quarter ending December 31, 2024, compared to the same period the previous year.
Marketing and sales promotion expenses grew by 31.2% to $47.3 million, reflecting higher variable costs and increased spending on events and brand-building efforts, aligned with the strong travel demand. Additionally, customer inducement costs, recorded as a reduction of revenue, amounted to $80.5 million in Q3 FY25, up from $66.0 million in Q3 FY24.
The platforms' adjusted operating profit for Q3 FY25 increased by 37.6% year-on-year to $46.0 million, up from $33.4 million in Q3 FY24, while its profit for the quarter stood at $27.1 million, compared to $24.2 million in the same quarter last year.
Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, commenting on the results, said,
“The Indian travel and tourism sector is witnessing robust growth, reflecting a strong desire among travelers to explore new horizons. While Indian destinations continue to shine, many countries have made significant efforts to attract Indian travelers. Our strong performance this
quarter reflects these macro trends, along with our focused execution and commitment to customer centricity.”
Mohit Kabra, Group Chief Financial Officer, MakeMyTrip, commenting on the results, said,
“Our robust financial performance this quarter across all lines of business underscores our strong execution of strategic priorities and the resilience of the travel sector. Our disciplined approach to cost management, combined with targeted investments in technology and customer experience, has enabled us to capitalize on growing travel demand and drive profitable growth.”