MakeMyTrip Swings to $1.8M Q2 Profit as Gross Bookings Rise 20.9% in Constant Currency
MMYT sits 29% above its 52-week low of $32.67.
Summary
MakeMyTrip posted Q2 FY27 revenue of $235.2 million (+11.2% constant currency) and a $1.8 million IFRS profit versus a year-ago loss, with gross bookings up 20.9% in constant currency despite a roughly 10% rupee depreciation weighing on reported figures.
Key Events · Earnings and Guidance · MMYT
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Q2 FY27 Results: Profit Returns
Revenue of $235.2 million (+2.5% reported, +11.2% constant currency) and an IFRS profit of $1.8 million versus a $5.7 million loss in the prior-year quarter; diluted EPS $0.02 vs -$0.06.
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Gross Bookings Up 20.9% in Constant Currency
Gross bookings reached $2,724.7 million, up 11.3% as reported and 20.9% in constant currency, led by bus ticketing (+29.4% cc) and hotels and packages (+19.7% cc).
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Rupee Depreciation Distorts Reported Growth
The INR depreciated roughly 10% year-on-year against the USD, cutting reported revenue growth to 2.5% from 11.2% in constant currency and contributing to a 7.2% reported decline in air ticketing revenue.
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Adjusted Profit Metrics Improve
Adjusted Net Profit Before Tax rose 27.0% to $46.2 million and Adjusted EBITDA rose 6.4% to $51.5 million; Adjusted Diluted EPS was $0.47 versus $0.37.
Analysis · MMYT · Energy & Transportation
The swing back to an IFRS profit of $1.8 million, from a $5.7 million loss a year ago, is the headline — but the operating engine is growing faster than reported figures suggest. Gross bookings rose 20.9% and revenue 11.2% in constant currency, versus just 2.5% as reported. Almost all of that gap is the rupee, which fell roughly 10% against the dollar year-on-year; dollar-reported numbers therefore understate the business, while also making international trips more expensive for Indian customers — air ticketing revenue actually fell 7.2% as reported. The cleanest read on profitability is Adjusted Net Profit Before Tax of $46.2 million, up 27%, and the company still bought back 345,158 shares for $17.2 million, with $78.6 million of authority left. Why the reported profit matters: the prior-year loss came largely from foreign-exchange and finance costs, not operations.
How filings like this one have moved
In the 30 days to Oct 26, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, MMYT was trading at $42.15 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $4B. The 52-week trading range was $32.67 to $92.09. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.