MakeMyTrip swings to $1.8M profit in Q2 FY27

MakeMyTrip Ltd. reported Q2 FY27 gross bookings of $2,724.7 million, up 20.9% year over year in constant currency, while IFRS revenue was $235.2 million, up 11.2% in constant currency.

Rhea-AI Filing Summary

MakeMyTrip Ltd. reported Q2 FY27 gross bookings of $2,724.7 million, up 20.9% year over year in constant currency, while IFRS revenue was $235.2 million, up 11.2% in constant currency. Adjusted margin was $108.6 million in Air Ticketing (+14.3%), $116.8 million in Hotels and Packages (+20.2%), $45.1 million in Bus Ticketing (+29.0%) and $24.4 million in Others (+29.8%); segment growth rates are in constant currency. Adjusted Operating Profit was $46.2 million versus $44.2 million, and adjusted net profit before tax was $46.2 million versus $36.4 million. Profit for the period was $1.8 million, compared with a $5.7 million loss in Q2 FY26.

During the quarter, Myra engaged in over 90,000 daily conversations, with more than 55% originating from Tier II and Tier III cities in India. It resolved over 53% of post-booking queries related to flights and hotels and assisted an average of more than 3,000 completed bookings per day.

4 points · 0 major

PositiveiHow this balance works

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

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How the balance works

Positive

• Moderate pointGross Bookings grew 20.9% year over year in constant currency.
• Moderate pointIFRS revenue grew 11.2% year over year in constant currency.
• Moderate pointNon-air segment adjusted margins grew 20.2% to 29.8% year over year in constant currency.
• Minor pointPeriod profit was $1.8 million, versus a $5.7 million loss in Q2 FY26.

Negative

• None.

Filing Explained

In Q2 FY27, customers engaging with Myra completed approximately 1.7 times more bookings than non-Myra users; among Tier II and Tier III city customers, the reported comparison was approximately 2.1 times more.

Key Figures

Gross Bookings: $2,724.7 million; Q2 FY26: $2,447.3 million; 20.9% YoY in constant currency IFRS revenue: $235.2 million; Q2 FY26: $229.3 million; 11.2% YoY in constant currency Air Ticketing adjusted margin: $108.6 million; Q2 FY26: $102.8 million; 14.3% YoY in constant currency +5 more

8 metrics

Gross Bookings $2,724.7 million; Q2 FY26: $2,447.3 million; 20.9% YoY in constant currency Q2 FY27

IFRS revenue $235.2 million; Q2 FY26: $229.3 million; 11.2% YoY in constant currency Q2 FY27

Air Ticketing adjusted margin $108.6 million; Q2 FY26: $102.8 million; 14.3% YoY in constant currency Q2 FY27

Hotels and Packages adjusted margin $116.8 million; Q2 FY26: $105.8 million; 20.2% YoY in constant currency Q2 FY27

Bus Ticketing adjusted margin $45.1 million; Q2 FY26: $37.7 million; 29.0% YoY in constant currency Q2 FY27

Others adjusted margin $24.4 million; Q2 FY26: $20.5 million; 29.8% YoY in constant currency Q2 FY27

Profit (Loss) for the Period $1.8 million; Q2 FY26: loss of $5.7 million Q2 FY27

Adjusted Operating Profit $46.2 million; Q2 FY26: $44.2 million Q2 FY27; also referred to as Adjusted EBIT

Key Terms

Gross Bookings, Adjusted Margin, constant currency, Adjusted EBIT, +1 more

5 terms

Gross Bookings financial

"Gross Bookings"

Gross bookings is the total dollar value of transactions a company records from sales, reservations, or orders before subtracting cancellations, refunds, taxes, or fees. Think of it as the full amount put into a shopping cart at checkout rather than the final receipt; it shows raw customer demand and sales momentum but does not equal actual revenue or profit, so investors use it to gauge growth and market interest while also watching conversion to net revenue.

Adjusted Margin financial

"Adjusted Margin"

Adjusted margin measures a company’s profitability after removing or altering certain charges or gains that management believes obscure its regular results, such as one‑time costs, unusual gains, or accounting items. Investors care because it aims to show the business’s recurring profit rate — like looking at a household budget but ignoring a single big, unexpected expense — which helps compare performance across periods and between companies more fairly.

constant currency financial

"constant currency refers to our financial results"

Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.

Adjusted EBIT financial

"also referred to as Adjusted EBIT"

Adjusted EBIT is a company’s operating profit before interest and taxes, but cleaned up by removing one-time or unusual items that can obscure ongoing performance. Investors use it like a tidied-up report card — it aims to show the underlying profitability of the business by excluding irregular gains, losses, or costs so comparisons across periods or companies are clearer and more meaningful for valuing operational strength.

IFRS financial

"Revenue as per IFRS"

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were MMYT's gross bookings and revenue in Q2 FY27?

MakeMyTrip reported $2,724.7 million in gross bookings and $235.2 million in IFRS revenue for Q2 FY27. Their year-over-year changes in constant currency were 20.9% and 11.2%, respectively.

Did MMYT report a profit in Q2 FY27?

Yes. MakeMyTrip reported $1.8 million in profit for the period, compared with a $5.7 million loss in Q2 FY26.

How did MMYT customers using Myra compare with non-Myra users?

For the quarter ended September 30, 2026, customers engaging with Myra completed approximately 1.7 times more bookings than non-Myra users. For customers in Tier II and Tier III cities in India, the comparison was approximately 2.1 times.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Available on EDGAR 10/26/2026 - 06:35 AM EDT Accepted by SEC EDGAR 10/26/2026 - 06:35 AM EDT Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of October 2026

Commission File Number 001-34837

MAKEMYTRIP LIMITED

(Translation of registrant’s name into English)

19th Floor, Building No. 5

DLF Cyber City

Gurugram, India, 122002

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Other Events

Unaudited Business and Financial Highlights for the quarter ended September 30, 2026

On October 26, 2026, MakeMyTrip Limited (“MakeMyTrip”) issued a press release announcing its unaudited business and financial highlights for the second quarter of fiscal 2027 (i.e. quarter ended September 30, 2026). A copy of the press release dated October 26, 2026 is attached hereto as Exhibit 99.1.

Exhibit

99.1 Press release by MakeMyTrip Limited dated October 26, 2026.

EXHIBIT INDEX

99.1 Press release by MakeMyTrip Limited dated October 26, 2026.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: October 26, 2026

MAKEMYTRIP LIMITED
By:		/s/ Rajesh Magow
Name:		Rajesh Magow
Title:		Group Chief Executive Officer

Exhibit 99.1

EARNINGS PRESS RELEASE

MakeMyTrip delivers strong Q2 performance despite challenging macro environment

Gross Bookings grew by 20.9%2 YoY | Adjusted Margin for each Non-Air Business segment grew between 20.2% to 29.8% YoY2

National, October 26, 2026 (NASDAQ: MMYT) — MakeMyTrip Limited today announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2026, as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.

Business & Financial Highlights | Q2 FY27

	Q2 FY27 ($ Million)	Q2 FY26 ($ Million)	YoY Change (Constant Currency)2
Gross Bookings	2,724.7	2,447.3	20.9%
Revenue as per IFRS	235.2	229.3	11.2%
Adjusted Margin1
Air Ticketing	108.6	102.8	14.3%
Hotels and Packages	116.8	105.8	20.2%
Bus Ticketing	45.1	37.7	29.0%
Others	24.4	20.5	29.8%
Results from Operating Activities	36.7	34.4
Adjusted Operating Profit (also referred to as Adjusted EBIT)3	46.2	44.2
Profit (Loss) for the Period	1.8	(5.7)
Adjusted Net Profit Before Tax	46.2	36.4

1.Strong growth in Adjusted Margin across segments with Air Ticketing growing 14.3%, Hotels and Packages growing 20.2%, Bus Ticketing growing 29.0% and Others growing 29.8% YoY in constant currency.

2.We continue to build on our AI initiatives:

a.Expanding adoption: Myra engaged in over 90,000 daily conversations across multiple Indian languages and English, of which more than 55% originated from Tier II and Tier III cities in India, during the quarter ended September 30, 2026. Further, in the quarter ended September 30, 2026, Myra resolved over 53% of post-booking queries in relation to flights and hotels. Myra has capabilities spanning end-to-end trip planning, voice interactions and in-chat payments and assisted on an average of more than 3,000 completed bookings per day during the quarter ended September 30, 2026.

b.Higher conversion: Customers engaging with Myra completed approximately 1.7 times more bookings compared with non-Myra users for the quarter ended September 30, 2026. In addition, customers from Tier II and Tier III cities in India engaging with Myra completed approximately 2.1 times more bookings compared with non-Myra users for the quarter ended September 30, 2026.

Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said,

“We delivered strong growth despite a challenging travel environment, with Gross Bookings increasing 20.9% year on year in constant currency to $2.7 billion. Growth in hotels and ground transport underscored the resilience of our diversified portfolio and our ability to serve evolving customer needs. We are using AI to simplify travel planning and booking, supported by our extensive supply network, integrated distribution platform and trusted service. We continue to invest with discipline to capture India’s long-term travel opportunity and deliver sustainable, profitable growth.”

Notes:

(1)This is a non-IFRS measure. Reconciliations of IFRS measures to non-IFRS financial measures and operating results are included at the end of our earnings release. For more information, see “About Key Performance Indicators and Non-IFRS Measures” in our earnings release.

(2)Constant currency refers to our financial results, assuming constant foreign exchange rates for the current fiscal period based on the rates in effect during the comparable period in the prior fiscal year. This is a non-IFRS measure. Reconciliations of IFRS measures to non-IFRS financial measures and operating results are included at the end of our earnings release. For more information, see “About Key Performance Indicators and Non-IFRS Measures” in our earnings release.

(3)Adjusted Operating Profit (AOP) is commonly referred to among investors and analysts in India as Adjusted EBIT.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 45.5 KB