MakeMyTrip Q1 FY27: Gross Bookings Surge 20% Despite Macro Headwinds
MMYT sits 82% above its 52-week low of $32.67.
Summary
MakeMyTrip reported Q1 FY27 results with 19.9% constant-currency gross bookings growth and double-digit adjusted margin gains across all segments, demonstrating resilience amid external disruptions.
Key Events · Earnings and Guidance · MMYT
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Gross Bookings Up 19.9% YoY
Gross bookings reached ~$2.9 billion in Q1 FY27, driven by strong demand across air, hotels, and bus segments despite international travel headwinds.
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Revenue Growth of 16.1%
IFRS revenue rose to $285.6 million, with constant-currency growth of 16.1% YoY, reflecting broad-based strength.
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Adjusted Margin Expansion Across Segments
Air Ticketing adjusted margin grew 10.8%, Hotels and Packages 21.3%, Bus Ticketing 32.4%, and Others 27.2% YoY in constant currency.
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Operating Profit Up 8.3%
Results from operating activities reached $43.7 million, while adjusted operating profit (EBIT) rose to $51.4 million from $47.3 million a year ago.
Analysis · MMYT · Energy & Transportation
MakeMyTrip delivered strong Q1 FY27 results with constant-currency gross bookings growth of 19.9% to $2.9 billion and revenue up 16.1%. Adjusted margins expanded across all key segments, led by Bus Ticketing (+32.4%) and Hotels and Packages (+21.3%). The company navigated a tough environment marked by international travel disruptions and oil price volatility, yet operating profit grew 8.3%. The launch of Myra 2.0, an AI-powered conversational booking platform handling over 85,000 daily conversations, signals deepening tech moat and rural reach. These results reinforce the long-term travel demand story in India, though near-term macro risks persist.
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At the time of this filing, MMYT was trading at $59.50 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $32.67 to $104.43. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.