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MakeMyTrip (MMYT) investor relations material
MakeMyTrip Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Oct, 2025
Executive summary
Q2 FY26 saw a rebound in travel demand across most segments, with revenue up 8.7% year-over-year to $229.3 million and gross bookings up 13.1% to $2,447.3 million, despite domestic air supply constraints.
Adjusted operating profit reached $44.2 million, up 17.9% year-on-year, with international air ticketing, hotels, and bus segments showing robust growth.
AI initiatives, including conversational assistants and GenAI-powered chatbots, are enhancing customer engagement and operational efficiency.
Leadership changes include the elevation of Mohit Kabra to Group COO and the appointment of Deepak Bora as Group CFO.
The company leverages a secure, scalable technology platform and an experienced management team to support growth.
Financial highlights
Adjusted operating profit was $44.2 million, up from $37.5 million year-on-year.
Revenue reached $229.3 million, up 8.7% year-on-year; gross bookings were $2,447.3 million, up 13.1%.
Net loss of $5.7 million due to $28.3 million in notional interest costs and $14.3 million in forex losses.
Cash and cash equivalents stood at $835.4 million as of September 30, 2025.
Adjusted operating margin improved to 1.8% of gross booking value from 1.66% last year.
Outlook and guidance
Management expects government tax concessions and GST benefits to boost discretionary spending and drive growth in the second half of the fiscal year.
Guidance for adjusted margin growth remains in the 20% range for the full fiscal year.
Focus remains on driving growth ahead of industry, leveraging omni-channel strategy and expanding supply.
India is expected to remain the fastest-growing large economy, with GDP growth of 7.8% in Q1 FY26.
Continued expansion into international markets, including UAE, LATAM, and Southeast Asia.
What drove the Q2 net loss despite operating profit?
Elaborate on domestic air supply constraints
Update on share repurchase program execution?
Quantify AI's impact on conversion or costs?
How to manage investor perception of net loss?
Sustain market share leadership across segments?
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Next MakeMyTrip earnings date
Q3 202622 Jan, 2026
Next MakeMyTrip earnings date
Q3 202622 Jan, 2026
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Frequently asked questions
MakeMyTrip Limited, commonly known as MakeMyTrip (MMYT), operates as an online travel company. It primarily focuses on providing travel services for customers, including flight tickets, domestic and international holiday packages, hotel reservations, and rail and bus tickets. The platform caters to the travel needs of individuals and businesses, aiming to simplify the process of planning and booking travel. In addition to its core offerings, MakeMyTrip also provides travel insurance, visa processing, and other travel-related assistance to ensure a comprehensive travel planning experience. The company has significantly contributed to the digitization of travel booking in India and has expanded its services to cater to a global customer base through its website, mobile applications, and other platforms. The company is headquartered in Gurugram, Haryana, India, and its shares are listed on the NASDAQ.
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