MakeMyTrip’s FY25 business sees 31.4 per cent revenue growth amidst booming travel sector
MakeMyTrip has reported a 12.9 per cent year-on-year increase in net profit, reaching 21.0 million USD for the quarter ending 30 June. This compares to a net profit of 18.6 million USD during the same period last year Q1 FY24. The company’s revenue, based on IFRS, surged by 31.4 per cent year-on-year in constant currency, totalling 254.5 million USD in Q1 FY25, up from 196.7 million USD in Q1 FY24.
The adjusted operating profit also experienced a rise, growing by 29.9 per cent year-on-year to 39.1 million USD in Q1 FY25, compared to 30.1 million USD in Q1 FY24.
Rajesh Magow, Group Chief Executive Officer at MakeMyTrip stated, “We are pleased to see a robust start to this fiscal year. We believe that the long-term growth story of India’s travel and tourism sector is fuelled by multiple macroeconomic drivers like increasing government investments in travel infrastructure, rising disposable incomes of the middle class and increasing propensity to travel. These drivers indicate that India’s travel and tourism industry growth is expected to be higher than the country’s GDP growth rate. We aim to continue to drive our growth by capitalising on the shift from offline to online buying and expanding our customer base and wallet share.”
