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MakeMyTrip, India’s premier travel service provider has announced its unaudited financial and operating results for the fiscal fourth quarter and full year ending March 31, 2024.
The financial performance of the company in the fiscal year 2024 has shown significant growth across various key metrics. In terms of Gross Bookings, there was a notable increase, with USD 2,039.0 million in Q4 FY24 and USD 7,954.4 million for the entire FY24, marking a 23.0 per cent and 24.9 per cent YoY growth respectively.
Revenue, as per IFRS, also exhibited a positive trend, with USD 202.9 million in Q4 FY24 and USD 782.5 million for FY24, reflecting a 38.1 per cent and 35.7 per cent YoY growth respectively. The Adjusted Margin in different segments like Air Ticketing, Hotels and Packages, Bus Ticketing, and Others displayed healthy improvements in Q4 FY24.
Furthermore, the Adjusted Operating Profit (EBIT) surged to USD 32.4 million in Q4 FY24 and USD 124.2 million for FY24, up from USD 70.3 million in FY23. The Profit for the Period in Q4 FY24 stood at USD 171.9 million, benefiting from a one-time credit of USD 126.1 million and a one-time gain of USD 30.6 million. Overall, the financial results indicate a strong performance and growth trajectory for the company in FY24.
According to MakeMyTrip’s data, the top searched domestic destinations include Ayodhya, Lakshadweep, Nandi Hills, Chalakudy, Chevella, and others, contributing significantly to the overall search volume. Goa retains its position as the most searched domestic destination, while Srinagar and Udaipur have witnessed remarkable growth in search interest. Internationally, destinations like Baku, Phuket, Abu Dhabi, Bangkok, and Kuala Lumpur are capturing the attention of Indian travelers, with Baku, Almaty, and Nagoya experiencing substantial growth in search queries.
Sharing his thoughts, Rajesh Magow, Group Chief Executive Officer of MakeMyTrip, commented, “Indians are embracing the call to travel with newfound enthusiasm, with both leisure and business-related travel demand in India surpassing pre-pandemic levels. Our strategy to serve millions of customers, including first-time travelers, through a comprehensive portfolio of travel and ancillary products with personalised experiences, is yielding significant results. It has helped us deliver strong growth in a quarter typically slower for leisure travel. We are thrilled to have bounced back stronger from the Covid-19 pandemic, posting our best-ever financial performance in FY2024 in terms of both Gross Bookings and Profit.”Despite Q4 being a seasonally slower period for leisure travel, MakeMyTrip saw robust growth across Gross Bookings, Revenue, and Profit. The company achieved record financial results, highlighting the strong recovery and increased travel demand post-pandemic.
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