MakeMyTrip’s Q2 Profit Zooms 800% To $17.9 Mn

Online travel aggregator MakeMyTrip’s net profit jumped to $17.9 Mn in Q2 FY25, rising 797% from $2 Mn in the year-ago quarter. On a quarter-on-quarter (QoQ) basis, profit declined 3.71% from $18.59 Mn.

The Nasdaq-listed company’s revenue jumped 25.1% to $211 Mn in the quarter ended September 2024 (Q2 2025) from $168.7 Mn in the year-ago period. Sequentially, it declined about 17% from $254 Mn in the previous quarter. The company said that Q2 is a seasonally slow quarter. 

“The increase in revenue was primarily due to the robust travel demand in India for both domestic and international outbound travel in the Q2 2025,” MakeMyTrip said. 

The company attributed the rise in revenue to growth in air ticketing, hotels and packages, and bus ticketing businesses. 

It recorded a 25.6% increase in its air ticketing revenue in Q2 to $96 Mn from $80.2 Mn in the year-ago quarter. Additionally, revenue from hotels and packages business rose 15.5% to $90.7 Mn from $75.6 Mn in the year-ago period.  

The bus ticketing business saw its revenue jump 25.4% to $27.1 Mn from $21.8 Mn in Q2 FY24. 

On the expenses front, service cost increased 23.6% to $49.8 Mn in Q2 FY25 from $40.3 Mn in Q2 FY24. Personnel expenses rose 12.5% to $39.4 Mn in Q2 FY25 from $35 Mn in the year-ago period. 

The company attributed the rise in personnel expenses to the increase in annual wages, which came into effect from Q1 FY25. 

The travel major’s marketing and sales promotion expenses rose 43% year-on-year to $35.8 Mn in Q2 FY25, primarily due to expenses on events and brand building initiatives.

“We are pleased to have achieved sustained growth in a seasonally slow quarter. Our unwavering focus on innovation, powered by advanced technology to deliver a differentiated customer experience, has been a key driver of this progress,” said Rajesh Magow, group chief executive officer of MakeMyTrip.