MakeMyTrip Reports Q1 FY27 Results: Strong Operational Growth Masked by IFRS Profit Decline

summarizeSummary

MakeMyTrip announced Q1 FY27 results with strong constant currency revenue and gross bookings growth, but IFRS net profit significantly declined due to higher finance costs.

check_boxKey Events · Earnings and Guidance · MMYT

• Q1 FY27 Revenue Growth

  Reported revenue increased 6.2% to $285.6 million, or 16.1% in constant currency, driven by hotels, packages, and bus ticketing.

• IFRS Profit Decline

  Profit for the period decreased 64.7% to $9.1 million, and diluted EPS fell to $0.09 from $0.22, largely due to a significant increase in net finance costs related to convertible senior notes.

• Strong Gross Bookings

  Gross Bookings grew 9.4% to $2.85 billion, or 19.9% in constant currency, indicating robust underlying demand.

• Adjusted Profitability Improves

  Adjusted Operating Profit rose 8.6% to $51.4 million, and Adjusted EBITDA increased 7.5% to $55.5 million, reflecting healthy operational performance.

auto_awesomeAnalysis · MMYT · Energy & Transportation

MakeMyTrip reported a significant drop in IFRS net profit and diluted EPS for Q1 FY27, primarily due to a substantial increase in net finance costs related to its convertible senior notes. However, the company demonstrated robust underlying operational performance with strong constant currency growth in revenue and gross bookings across its key segments. Adjusted profitability metrics also showed improvement. This mixed report highlights the impact of non-operational factors on headline IFRS figures while the core business continues to expand. This report follows the recent confidential IPO filing for its Indian subsidiary, MMT India, making the underlying business health particularly relevant.