MakeMyTrip Profit Down 65% in First Quarter

Travel tech company MakeMyTrip announced its first-quarter financial results for the period ending June 30, 2026. The company's consolidated net profit fell 65% to $9.1 million, down from $25.8 million in the same quarter last year.

Despite the profit drop, revenue saw a 6% increase year-over-year, reaching $285.6 million. MakeMyTrip cited macroeconomic headwinds as key factors impacting its performance. The depreciation of the Indian rupee against the US dollar by over 10% negatively affected reported revenue growth. Additionally, ongoing regional conflicts in West Asia dampened demand for international outbound travel from India.

On the cost side, service costs increased by 10.4% to $82.7 million, and marketing and sales expenses rose by 11.1% to $48.8 million. Personnel expenses saw a slight decrease of 3.4% to $38.8 million. Net finance costs surged significantly to $28.3 million, up from $4 million a year prior, largely due to increased interest on convertible notes.

Segment performance varied. Revenue from air ticketing declined 7.5% due to weaker international travel. The hotels and packages segment, the company's largest contributor, grew 6.7%. Bus ticketing revenue increased by 15.9%, and the 'others' segment saw a 19.6% rise in revenue.