"Despite the exceptional macro headwinds during the reported quarter, I’m pleased to report that we delivered very good top line growth on our hotels and packages..." – Rajesh Magow, CEO
— Rajesh Magow
03Detailed Report
MMYT
MakeMyTrip Limited
Period
Q1 2026
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 21, 2026
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Executive Summary
MakeMyTrip Limited (MMYT) reported its Q1 2026 financial results, showcasing resilience in the face of macroeconomic challenges and demand shifts within the travel sector. The company achieved a revenue of $268.8 million, a 7.8% increase year-over-year in constant currency, driven particularly by international travel growth. Despite experiencing significant headwinds in domestic leisure travel due to geopolitical tensions and recent incidents affecting consumer sentiment, MakeMyTrip continued to enhance its market position in air ticketing by increasing market share and expanding its international offerings. Management remains optimistic about the sector's long-term recovery and growth, attributing potential enhancements in shareholder value through targeted investments in product offerings and customer experience improvements.
Key Performance Indicators
Revenue
Increasing
268.85M
QoQ: 0.56% | YoY: 32.51%
Gross Profit
Increasing
146.57M
54.52% margin
QoQ: -22.85% | YoY: 46.87%
Operating Income
Increasing
38.84M
QoQ: 11.96% | YoY: 134.80%
Net Income
Decreasing
25.92M
QoQ: -4.06% | YoY: -84.93%
EPS
Decreasing
0.23
QoQ: -4.17% | YoY: -85.06%
Revenue Trend
Margin Analysis
Financial Highlights
### Key Financial Metrics
- Revenue: $268.8 million, up 7.8% YoY
- Net Income: $25.9 million, a growth of 22.6% from $21 million in Q1 2025
- Adjusted Operating Profit: $47.3 million, reflecting a 21% increase YoY
- Gross Profit Margin: 54.5%, with a gross profit of $146.6 million
- Operating Income Margin: 14.4%, demonstrating effective cost management
- Operating Cash Flow: Significant cash position with $804 million at quarter-end, yielding operational flexibility.
Performance was led by international segments, where air ticketing revenue rose 27% YoY, while the domestic market faced challenges.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
268.85M
32.51%
0.56%
Gross Profit
146.57M
46.87%
-22.85%
Operating Income
38.84M
134.80%
11.96%
Net Income
25.92M
-84.93%
-4.06%
EPS
0.23
-85.06%
-4.17%
Key Financial Ratios
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