MakeMyTrip logs highest-ever quarterly gross bookings at $1.98 billion, net profit at $18.6 million

The EBITDA margin was at 13.2 percent for the current quarter, an expansion of about 530 basis points as compared to the same quarter last year. EBITDA is earnings before interest, tax, depreciation, and amortisation.

In the first quarter of FY24, gross bookings grew by 23.3 percent year-on-year to $1.98 billion against $1.61 billion as travel demand for both leisure and business travel witnessed strong growth, leading to all-time high gross bookings.

During the first quarter, gross bookings grew by 31.4 percent year-on-year in constant currency to $2.0 billion. Adjusted operating profit was $30.1 million in the first quarter of FY24, as compared to $16.5 million in Q1 of FY23 registering a growth of 83.0 percent year-on-year.

Rajesh Magow, group chief executive officer of MakeMyTrip, said, "We have started the new financial year on a positive note, delivering our strongest ever quarter with all-time high gross bookings and profits. Travel demand across customer segments stayed robust in a seasonally strong quarter for leisure travel."