MakeMyTrip Ltd

MakeMyTrip is a travel service provider that began operations in 2000, initially focusing on the non-resident Indian market in the United States by servicing demand for United States to India air tickets. The company launched its Indian MakeMyTrip website in September 2005. It primarily targets Indian leisure and corporate travelers who prefer to arrange their own travel through online and offline sales channels. MakeMyTrip operates through its primary websites, www.makemytrip.com, www.goibibo.com, and www.redbus.in, and mobile applications. These platforms allow travelers to research, plan, and book a variety of travel services and products both within India and internationally. The company's services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements such as facilitating access to third-party travel and other insurance products, foreign currency exchange services, and visa-related products and services. As of March 31, 2025, approximately 87,000 properties in India, including alternative accommodation properties, were available for booking. Additionally, customers could book over 1.2 million hotels and properties outside India, as well as tickets from Indian Railways and over 5,950 bus operators across India, Malaysia, Singapore, Indonesia, Cambodia, Vietnam, Peru, and Colombia. The company recorded net losses for each fiscal year except for fiscal years 2011, 2012, 2024, and 2025. In fiscal year 2023, MakeMyTrip recorded net losses of $(11.2) million. In fiscal year 2024, the company recorded a net profit of $216.7 million, which includes a credit of $126.1 million from deferred tax asset recognition and a gain of $30.6 million from a change in the carrying value of its 2028 Notes.