Hotel bookings propel MakeMyTrip to its highest ever quarterly revenue in Q3

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India’s largest online travel aggregator (OTA) MakeMyTrip Thursday reported its all-time high quarterly revenue as travel in the country is soaring. The Nasdaq-listed company’s profit this Q3 was USD 27.1 million, up from USD 24.2 million in the same period the previous fiscal. Its revenue grew 26.2 percent (YoY in constant currency) to USD 267.4 million in Q3 FY25 from USD 214.2 million in the same period last fiscal.

MakeMyTrip Group CEO Rajesh Magow said MMT has seen “strong performance across all business segments with an accelerated YOY growth rate of 26.8 percent in gross booking value (GBV) in constant currency during the reported quarter compared to a growth rate of 22.9 percent during the first half of the year.

“Our international outbound business continues to grow at a fast pace. For Q3FY25, our international air ticketing revenue grew by over 32 percent YoY far outpacing industry growth. Similarly, our international hotels revenue grew by over 63 percent YoY making this one of our fastest growing business segments.”

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“Our accommodation business continues to witness strong growth. While October was a little slow due to festivals, the season picked up significantly in November and December on the back of the holiday season and MICE and wedding-related demand. We also witnessed broad-based growth this quarter, there was an uptick in demand across all price points and consumer segments and use cases. As a result, we witnessed record check-ins in the last 10 days of December during the peak holiday season,” he added.

Spiritual tourism is emerging as one of the key growth drivers of tourism in India with new destinations.

“Our inbound bookings crossed the 1,000+ room per day milestone during the quarter. We believe that the combination of inbound and outbound bookings growth will lead to an increase in the proportion of our international hotel business in the coming years, which currently stands at around 19% compared to 14.8 percent during the same quarter last year. As a result of the improving mix of international hotels, on an overall basis, international business now contributes around 25 percent,” Magow said.

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“The Indian travel and tourism sector is witnessing robust growth, reflecting a strong desire among travellers to explore new horizons. While Indian destinations continue to shine, many countries have made significant efforts to attract Indian travellers. Our strong performance this quarter reflects these macro trends, along with our focused execution and commitment to customer centricity,” he said.

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