MakeMyTrip Reports Fourth Quarter Revenue Growth

MakeMyTrip showcased a growth in revenue for the fourth quarter of FY26, even as its profit experienced a decline due to increased finance costs. The Nasdaq-listed travel platform noted a year-on-year revenue increase of 1.9%, reaching $250.1 million in Q4 FY26, up from $245.5 million during the same period last year. Adjusted for constant currency, the revenue witnessed a growth of 6.7%.

Decline in Profit

MakeMyTrip’s profit saw a drop of 16.8%, falling to $24.3 million in Q4 FY26 from $29.2 million in Q4 FY25. The company’s finance costs surged more than double, amounting to $16.6 million compared to $7.5 million in the previous year.

Performance by Vertical

In terms of business segments, air ticketing revenue experienced a decline of 4.7% year-on-year, dropping to $58.7 million in Q4 FY26 from $61.6 million in the same quarter last year. Nevertheless, the adjusted margin from this segment saw an increase of 5.4%, reaching $99.3 million.

The hotels and packages division, which is the largest revenue source for the company, also observed a minor dip of 1.2%, with revenue standing at $121.8 million during the quarter. Conversely, the bus ticketing sector continued to excel, posting a revenue growth of 7.3% to $35.9 million, while its adjusted margin rose by 12.7% to $41.1 million.

Expense Overview

On the expense side, other operating costs increased by 5.4% year-on-year, totalling $63.6 million in Q4 FY26. Marketing and sales promotion costs remained largely unchanged at $42.1 million. Personnel expenses dropped by 11%, amounting to $38 million during the period.

Full Fiscal Year Results

For the complete fiscal year concluding in March 2026, MakeMyTrip surpassed the $1 billion revenue mark, achieving a 6.7% increase to $1.04 billion, up from $978.3 million in FY25. However, its annual profit fell by 45.8%, landing at $51.7 million.

Shares of MakeMyTrip closed at $44.93 on Nasdaq on Monday, giving the company a market capitalisation of approximately $4.8 billion.