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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 saw a rebound in travel demand across most segments, with strong growth in non-air and international travel, despite domestic air supply constraints and seasonally slow trends.
Diversified product portfolio and robust performance in non-air segments drove overall growth, with international business now contributing 28% of revenue.
Advanced technology, including AI-powered chatbots and scalable platforms, enhanced customer engagement and operational efficiency.
Gross bookings increased 13.1% year-over-year to $2,447.3 million for the quarter, and $9,803 million for FY25, up 22% year-over-year.
Experienced management team and strong brand recognition support continued expansion and market leadership.
Financial highlights
Adjusted Operating Profit reached $44.2 million for the quarter, up 18% year-over-year; FY25 Adjusted Operating Profit was $167.3 million, a threefold increase.
Revenue for the quarter was $229.3 million, up 8.7% year-over-year (12.6% in constant currency).
Reported a net loss of $5.7 million for the quarter, mainly due to non-cash interest and forex costs.
Cash and cash equivalents totaled $835.4 million as of September 30, 2025, up $51 million over the previous quarter.
Segment margins: Air ticketing adjusted margin up 10.6%, hotels and packages up 21.6%, bus ticketing up 44.1%, and others up 29.7% year-over-year.
Outlook and guidance
Management expects continued growth in the twenties percentage range for the full fiscal year, supported by government tax concessions and GST benefits.
Online travel market projected to grow 5x from $12 billion in 2022 to $60 billion by 2030.
Domestic air supply is expected to recover in H2, with long-term aviation and hospitality outlooks remaining robust.
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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