Q3 2025 MakeMyTrip Ltd Earnings Call Transcript
Key Points
- MakeMyTrip Ltd (MMYT) reported a strong year-on-year growth rate of 26.8% in gross booking value in constant currency terms for the third quarter of fiscal 2025.
- The company achieved an all-time high quarterly adjusted operating profit of $46 million, marking a 38% year-on-year increase.
- International air ticketing revenue grew by over 32% year-on-year, significantly outpacing industry growth.
- The accommodation business, including hotels and homestays, recorded a 24.9% year-on-year growth in adjusted margin on a constant currency basis.
- MakeMyTrip Ltd (MMYT) continues to expand its reach with new product features and services, such as part payment options for international air tickets and value bundles for flights.
- The domestic air market faces near-term supply challenges, impacting growth despite MakeMyTrip Ltd (MMYT) maintaining its market share.
- There is a delay in resolving engine issues for airplane operators, affecting the supply side in the domestic market.
- The take rate for air ticketing has decreased from 6.8% to 6.1% due to seasonality and pricing changes.
- Finance income has decreased materially on a quarter-over-quarter basis, while finance costs have increased, influenced by forex fluctuations.
- Despite robust growth, the company acknowledges potential macroeconomic risks that could impact future growth rates.
Good evening, everyone. We'll just wait for one more minute for everyone to join and then we'll start.
Hello, everyone. I'm Vipul Garg, Vice President, Investor Relations at MakeMyTrip Limited and welcome to our fiscal 2025 third-quarter earnings webinar. Today's event will be hosted by the company's leadership team comprising Rajesh Magow, our Co-Founder and Group Chief Executive Officer; and Mohit Kabra, our Group Chief Financial Officer.
As a reminder, this live event is being recorded by the company and will be made available for replay on our IR website shortly after the conclusion of today's event. At the end of these prepared remarks, we will also be hosting a Q&A session.
Furthermore, certain statements made during today's event may be considered forward-looking statements within the meaning of the Safe Harbor provision of the US Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance are subject to inherent uncertainties and actual results may
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