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MakeMyTrip

MakeMyTrip's Q4 profit jumps multifold to $172 mn on tax credit gains

Nasdaq-listed MakeMyTrip Ltd on Wednesday reported a multi-fold jump in profit at USD 171.9 million in the March 2024 quarter, aided by gains on tax credit and convertible notes value. The company had posted a profit of USD 5.4 million in the same quarter previous fiscal, MakeMyTrip said in a statement. Profit for the fourth quarter included a one-time credit of USD 126.1 million on recognition of deferred tax assets and a one-time gain of USD 30.6 million due to the change in carrying value of the company's convertible notes due 2028 measured at amortised cost, it added. Gross bookings in the quarter stood at USD 2,039 million as compared to USD 1,673.9 million in the year-ago period, it added. In FY24, profit was at USD 216.7 million. The company had posted a loss of USD 11.2 million in FY23. Gross bookings for FY24 stood at USD 7,954.4 million as against USD 6,566.2 million in FY23, the company said. "Our strategy to serve millions of our customers and first-time travellers th

MakeMyTrip's Q4 profit jumps multifold to $172 mn on tax credit gains
Updated On : 15 May 2024 | 5:25 PM IST

MakeMyTrip releases most searched foreign locations by Indians this summer

MakeMyTrip releases most searched foreign locations by Indians this summer

MakeMyTrip releases most searched foreign locations by Indians this summer
Updated On : 09 May 2024 | 5:53 PM IST

Goa top summer holiday destination, search for Srinagar rises: MMT report

Puri and Varanasi have emerged as the most sought-after pilgrimage destinations, with a noticeable surge in interest noted for Ayodhya, according to MakeMyTrip's report

Goa top summer holiday destination, search for Srinagar rises: MMT report
Updated On : 08 May 2024 | 4:33 PM IST

Ayodhya to Ujjain: Indians prefer spiritual trips over family, solo travel

There is a notable interest in spiritual journeys within tier-2 and tier-3 cities, with searches for destinations with or around religious spots growing 97% in the last two years

Ayodhya to Ujjain: Indians prefer spiritual trips over family, solo travel
Updated On : 29 Apr 2024 | 12:55 PM IST
Updated On : 29 Apr 2024 | 11:43 AM IST

Women pre-book window seats, men prefer aisle in domestic flights: MMT

MakeMyTrip's 'India Travel Trends Report' showed that 50% of all domestic flyers pick flights between 9 am and 6 pm, irrespective of the destination or the origin

Women pre-book window seats, men prefer aisle in domestic flights: MMT
Updated On : 22 Apr 2024 | 3:07 PM IST

MakeMyTrip expands global reach, now available in over 150 countries

India's online travel firm has expanded its reach to major travel markets like the UK, Germany, Japan, Italy, France, and others

MakeMyTrip expands global reach, now available in over 150 countries
Updated On : 08 Apr 2024 | 12:28 PM IST

MakeMyTrip, STB partner to promote Singapore to Indian travellers

Online travel service provider, MakeMyTrip Ltd on Tuesday said it has entered into a partnership with Singapore Tourism Board for promoting Singapore as a key destination to Indian travellers. The two partners have signed a Memorandum of Understanding (MoU) for a year-long strategic partnership to boost travel to Singapore, MakeMyTrip said in a statement. Under the MoU, Singapore Tourism Board (STB) and MakeMyTrip will embark on joint activations and campaigns to boost inbound travel to Singapore in 2024, it added. "Through this partnership, we want to deepen Indian consumers' brand affinity for Singapore and reinforce the city's appeal and enhanced offerings for various segments of Indian visitors," STB Chief Executive Melissa Ow said. STB will also tap into MakeMyTrip's market understanding and insights to curate unique travel holiday packages targeting consumers in India, the statement said. MakeMyTrip Co-Founder and Group CEO, Rajesh Magow said Singapore was one of the top th

MakeMyTrip, STB partner to promote Singapore to Indian travellers
Updated On : 02 Apr 2024 | 7:34 PM IST

The bigger the pain, the sooner you will get the money: Rajesh Magow

Rajesh Magow of MakeMyTrip reveals the secret for startups to negotiate this funding winter

The bigger the pain, the sooner you will get the money: Rajesh Magow
Updated On : 28 Mar 2024 | 11:43 PM IST

MeraDoc partners with MakeMyTrip to offer real-time medical services

HealthTech startup and India's fastest-growing online medical services company Meradoc has entered into a strategic partnership with travel booking MakeMyTrip to offer a bouquet of healthcare services on the go for the latter's subscribers across the country. With this alliance, Meradoc's digital-health platform and its services will now become available 24x7 on a real-time basis to MakeMyTrip customers across India, the company said in a statement. "The ground-breaking partnership will provide MakeMyTrip customers round-the-clock instant access to Meradoc's panel of qualified doctors through video and audio consultations," it said. Additionally, pathology services, personalised follow-ups and updates, as also delivery of medicines prescribed by the doctors, will be available to MakeMyTrip customers at their doorstep within two hours, whether they are at home or travelling anywhere in the country on business or for personal reasons. Set up in 2021 by Sudhir Mathur, ex-CEO of Cairn

MeraDoc partners with MakeMyTrip to offer real-time medical services
Updated On : 20 Mar 2024 | 6:33 PM IST

SC dismisses MakeMyTrip's appeal against Google in trademark case

MakeMyTrip (MMT) claimed that its trademarks, "Makemytrip" and "MMT", were being used as keywords in Google Ads to display ads and links of its rival Booking.com

SC dismisses MakeMyTrip's appeal against Google in trademark case
Updated On : 07 Mar 2024 | 8:59 PM IST

Goa, MakeMyTrip ink pact to promote state's culture, sustainable tourism

The Goa government and online travel firm MakeMyTrip on Thursday signed an agreement to promote the state's cultural heritage and culinary traditions to make it into a year-round destination, moving beyond the sun, sand and beaches, according to a statement. As per the Memorandum of Understanding (MoU), a public-private partnership, MakeMyTrip will highlight the state's inland cultural richness and culinary traditions, which usually take a back seat to popular coastal attractions by curating a cultural map of Goa, pushing various initiatives to promote the multi-faceted state, the Department of Tourism, Government of Goa, and MakeMyTrip said in a joint statement. "Our collective vision of 'Goa Beyond Beaches' is to bring the hidden splendours of the state to the forefront, celebrate its rich cultural heritage, take tourism to the hinterlands of Goa and ensure sustainable and regenerative tourism practices that preserve our natural resources for generations to come. Our partnership ..

Goa, MakeMyTrip ink pact to promote state's culture, sustainable tourism
Updated On : 22 Feb 2024 | 1:23 PM IST

Homestays showing lot of promise with compounding growth: MakeMyTrip CEO

Magow talks about the travel boom in the country and the company's new avenues to drive growth

Homestays showing lot of promise with compounding growth: MakeMyTrip CEO
Updated On : 21 Feb 2024 | 9:10 PM IST

MakeMyTrip, PolicyBazaar warn RBI of fintech hit after Paytm crackdown

There are concerns about the broader impact on India's fin-tech sector which the government says raised $5.6 billion in 2022, as digital payments and the use of smartphones and the internet boomed

MakeMyTrip, PolicyBazaar warn RBI of fintech hit after Paytm crackdown
Updated On : 06 Feb 2024 | 7:35 PM IST

MakeMyTrip logs highest-ever quarterly gross bookings at $2.08 billion

The online travel services platform delivered its highest-ever quarterly gross bookings during Q3 FY24

MakeMyTrip logs highest-ever quarterly gross bookings at $2.08 billion
Updated On : 23 Jan 2024 | 11:14 PM IST

MakeMyTrip launches 'Beaches of India' campaign after India-Maldives row

The online travel platform reported a 3,400 per cent increase in searches for Lakshadweep after PM Modi's visit last week

MakeMyTrip launches 'Beaches of India' campaign after India-Maldives row
Updated On : 08 Jan 2024 | 2:13 PM IST

MakeMyTrip CEO, Genpact CHRO each buy Rs 33 cr apartment in Gurgaon

Rajesh Magow and Piyush Mehta each secured 6,500 sq ft apartments at The Magnolias by DLF on Golf Course Road, showing the growing demand for luxury real estate

MakeMyTrip CEO, Genpact CHRO each buy Rs 33 cr apartment in Gurgaon
Updated On : 22 Dec 2023 | 11:10 AM IST

MakeMyTrip to collaborate with WEP for women entrepreneurs in North-East

WEP, incubated under Niti Aayog, has transitioned into a public-private partnership as a one-stop solution for information and services relevant to women entrepreneurs

MakeMyTrip to collaborate with WEP for women entrepreneurs in North-East
Updated On : 24 Nov 2023 | 6:50 PM IST

MakeMyTrip posts $2 million profit in Sep quarter on elevated travel demand

Travel services provider MakeMyTrip on Tuesday reported a profit of USD 2 million for the September quarter, on the back of sustained elevated travel demand in India. The company, listed on Nasdaq, had reported a loss of USD 6.8 million in the year-ago period, it said in a regulatory filing. It also reported an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of USD 13.5 million for the quarter under review, as against USD 10.7 million in the second quarter of FY23. "We witnessed strong growth both in terms of Gross Bookings and profitability despite the second quarter of fiscal year being a seasonally weaker quarter for leisure travel. For Q2 FY24, Gross Bookings grew by 23.8 per cent YoY (Year-on-Year) in constant currency to USD 1.8 billion from USD 1.5 billion in Q2 FY23," the company stated. Adjusted Operating Profit was USD 28.2 million in Q2 FY24 as compared to USD 15.1 million in Q2 FY23, registering a growth of 86.8 per cent YoY, it added. The comp

MakeMyTrip posts $2 million profit in Sep quarter on elevated travel demand
Updated On : 31 Oct 2023 | 8:50 PM IST

DGCA approves wet lease for domestic carriers to meet festive season demand

IndiGo and SpiceJet are likely to wet-lease 20 aircraft. While IndiGo will source 11 Airbus A320 aircraft from SmartLynx Airline, SpiceJet will induct nine Boeing 737Max aircraft from Corendon Airline

DGCA approves wet lease for domestic carriers to meet festive season demand
Updated On : 26 Sep 2023 | 10:47 AM IST