Q3 2026 MakeMyTrip Ltd Earnings Call Transcript
Key Points
- MakeMyTrip Ltd (MMYT) experienced strong demand recovery in Q3, driven by the festive season and long weekends, despite temporary disruptions in December.
- The company leveraged AI to enhance customer experience, with Myra scaling to over 50,000 daily conversations and improving customer interaction quality.
- The Accommodations business saw a 20.3% volume growth year-on-year, driven by leisure travel demand and GST reduction on hotel rooms.
- The Bus Ticketing business registered strong growth, with private inventory crossing 45,000 daily schedules, up from 40,000 the previous year.
- MakeMyTrip Ltd (MMYT) reported a significant increase in adjusted operating profits, reaching over $50 million for the first time in a quarter.
- New flight duty rules caused a disruption in December, leading to a decline in daily departures and impacting domestic air travel growth.
- The GST reduction on hotel rooms led to a divergence between volume growth and gross booking value growth, affecting revenue growth optics.
- The company faced challenges in the domestic air market, with industry growth at just 0.9% year-on-year, impacting overall segment growth.
- Marketing and sales promotion expenses increased to 5.6% of gross bookings, reflecting a higher cost of customer acquisition.
- The impact of rupee depreciation resulted in translation-related foreign currency losses of about $5.3 million for the quarter.
Hello, everyone. I'm Vipul Garg, Senior Vice President, Investor Relations at MakeMyTrip Limited. Welcome to our fiscal '26 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; Mohit Kabra, our Group Chief Operating Officer; and Dipak Bohra, 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 Safe Harbor provision of the US Private Securities Litigation Reform Act of 1995. These statements are not guarantees of the future performance; are subject to inherent uncertainties; and actual results may differ materially.
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