MakeMyTrip delivered a net profit of $1.8 million in quarter two of fiscal year 2027, marking a significant turnaround from a net loss of $5.7 million in the corresponding period of the previous fiscal year. According to reports from Business Standard, the company reported revenues of $235.2 million for quarter two, representing an 11.2% increase in constant currency terms compared to the same period last year. Group CEO Rajesh Magow highlighted that the company delivered strong growth despite a challenging travel environment, with the diversified portfolio segments including hotels and ground transport showcasing resilience. The company's adjusted net profit before tax stood at $46.2 million compared with $36.4 million during the same period last year, demonstrating improved operational efficiency.
The company demonstrated robust operational performance with gross bookings increasing 20.9% year-on-year in constant currency terms to $2.7 billion in quarter two, as reported by Business Standard. According to the latest quarterly results, gross bookings stood at $2,724.7 million, up 20.9% on a constant currency basis compared with $2,447.3 million in the corresponding period last year. Magow emphasized that this growth was achieved despite a challenging travel environment, with diversified portfolio segments including hotels and ground transport underscoring the resilience of the company's diversified portfolio and ability to serve evolving customer needs.
The air ticketing business faced significant headwinds during the quarter, with market supply constrained and domestic departures witnessing a degrowth of 4% year-on-year, as revealed by Group Chief Operating Officer Mohit Kabra during the earnings call. According to Business Standard, both high fares and constrained capacity impacted demand, leading to an overall decline in flown passengers. Despite these challenges, the segment reported air ticketing growing 14.3% year-on-year in constant currency terms, demonstrating the company's ability to navigate difficult market conditions. The company noted that the annual growth in adjusted margin across all business segments demonstrated consistent performance improvement.
MakeMyTrip reported strong growth across multiple segments with hotels and packages growing 20.2%, bus ticketing growing 29.0%, and others growing 29.8% year-on-year in constant currency terms. According to the company statement, the company noted that adjusted operated profit reached $46.2 million in quarter two compared to $44.2 million in the corresponding period of the previous fiscal year. The company continued to invest in hotel supply, with Kabra stating that while geopolitical headwinds weighed on near-term international demand, they continue to see outbound travel as a significant long-term growth opportunity.
On the proposed IPO of wholly-owned subsidiary MakeMyTrip India Limited, Group Chief Financial Officer Dipak Bohra confirmed that the company has made a confidential filing and continues to work with capital market regulators and stock exchanges to obtain due approvals. As reported by Business Standard, Bohra noted that the timing of the IPO is subject to regulatory approvals and market conditions. The company plans to continue investing in international hotel supply despite near-term challenges, viewing outbound travel as a significant long-term growth opportunity. Magow emphasized the company's strategic approach to AI integration, stating they are using AI to simplify travel planning and booking, supported by their extensive supply network and integrated distribution platform.
