MakeMyTrip Reports Strong Q3 FY26 Operational Growth, IFRS Net Profit Significantly Declines

summarizeSummary

MakeMyTrip Ltd. announced Q3 FY26 results with robust growth in gross bookings, revenue, and adjusted profits, but reported a substantial year-over-year decline in IFRS profit for the period.

check_boxKey Events

• Gross Bookings and Revenue Growth

  Gross Bookings increased by 11.8% year-over-year (constant currency) to $2,784.5 million, while IFRS Revenue grew by 15.4% year-over-year (constant currency) to $295.7 million.

• Adjusted Profitability Increases

  Adjusted Operating Profit (Adjusted EBIT) rose to $50.7 million, and Adjusted Net Profit increased to $51.4 million for Q3 FY26, up from $46.0 million and $44.9 million respectively in Q3 FY25.

• Significant IFRS Net Profit Decline

  Profit for the period (IFRS Net Profit) decreased substantially to $7.3 million in Q3 FY26, down from $27.1 million in the prior year's comparable quarter.

• Strong Segment Performance

  The company reported strong double-digit growth in Adjusted Margin across all segments, with Hotels and Packages volume growing 20.3% year-over-year based on hotel-room nights.

auto_awesomeAnalysis

MakeMyTrip Ltd. reported a mixed set of results for its fiscal third quarter ended December 31, 2025. The company demonstrated strong operational performance with double-digit growth in gross bookings, revenue, and adjusted margins across all segments, including a 20.3% year-over-year volume increase in its Hotels and Packages business. Adjusted Net Profit also saw a healthy increase. However, the IFRS Profit for the period experienced a substantial decline from $27.1 million in Q3 FY25 to $7.3 million in Q3 FY26. This divergence between adjusted and IFRS profitability is a key point for investors to consider, despite management's positive commentary on diversified product portfolio and ancillary services mitigating slower domestic air travel growth.