MakeMyTrip (NASDAQ: MMYT) hits $10.4B FY26 bookings with profit growth

Rhea-AI Filing Summary

MakeMyTrip Limited reported a strong fiscal year 2026 with record gross bookings of $10.4 billion, up 10.4% year over year in constant currency. Revenue for the full year rose 10.7% in constant currency to $1,044.0 million, while results from operating activities reached $156.0 million, a 30.1% increase year over year.

Non-IFRS Adjusted Margin grew across all major segments in constant currency for FY26: Air Ticketing by 13.4% to $407.1 million, Hotels and Packages by 15.7% to $476.8 million, Bus Ticketing by 29.3% to $163.9 million, and Others by 37.1% to $94.9 million. Adjusted Operating Profit (Adjusted EBIT) increased to $188.8 million from $167.3 million.

The company also highlighted progress on its AI-powered travel assistant Myra, which can complete bookings via a conversational interface and handled over 54,000 daily conversations in Q4 FY26. More than 45% of Myra’s usage came from Tier-2 and smaller cities, and it autonomously resolved about 55% of post-booking flight and hotel queries in the quarter.

Positive

• Record FY26 scale and stronger profitability: Gross bookings reached $10.4 billion (up 10.4% in constant currency), revenue grew 10.7%, and results from operating activities increased 30.1% to $156.0 million, with Adjusted Operating Profit rising to $188.8 million.

Negative

• None.

Insights

Equity research analyst

Record bookings, double‑digit revenue and margin growth mark a robust FY26.

MakeMyTrip delivered gross bookings of $10.4 billion in FY26, up 10.4% in constant currency, despite a challenging travel environment. Revenue grew 10.7% in constant currency to $1,044.0 million, while results from operating activities rose 30.1% to $156.0 million, indicating solid operating leverage.

Non-IFRS Adjusted Margin expansion across all key verticals is notable: Bus Ticketing grew 29.3%, Others 37.1%, Hotels and Packages 15.7%, and Air Ticketing 13.4% in constant currency. Adjusted Operating Profit increased to $188.8 million from $167.3 million, reinforcing profitability momentum on higher scale.

Management also emphasized AI initiatives, particularly the Myra assistant, which handled over 54,000 daily conversations in Q4 FY26 and resolved about 55% of post-booking flight and hotel queries. Subsequent disclosures may clarify how these efficiency gains and increased Tier-2 city engagement translate into future growth and cost trends.

Key Figures

FY26 Gross Bookings: $10.4 billion FY26 Revenue: $1,044.0 million Results from Operating Activities: $156.0 million +5 more

8 metrics

FY26 Gross Bookings $10.4 billion Full year FY26, up 10.4% YoY in constant currency

FY26 Revenue $1,044.0 million Full year FY26, up 10.7% YoY in constant currency

Results from Operating Activities $156.0 million Full year FY26, 30.1% YoY growth

Adjusted Operating Profit $188.8 million FY26 Adjusted EBIT vs $167.3 million in FY25

Air Ticketing Adjusted Margin $407.1 million FY26, up 13.4% YoY in constant currency

Hotels and Packages Adjusted Margin $476.8 million FY26, up 15.7% YoY in constant currency

Bus Ticketing Adjusted Margin $163.9 million FY26, up 29.3% YoY in constant currency

Myra Daily Conversations 54,000+ per day Q4 FY26, AI assistant usage

Key Terms

Gross Bookings, Adjusted Margin, Results from Operating Activities, Adjusted Operating Profit, +2 more

6 terms

Gross Bookings financial

"Gross Bookings for full year FY26 grew by 10.4% YoY in constant currency"

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

"the company saw stronger growth in Adjusted Margin(1) across segments"

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.

Results from Operating Activities financial

"Results from Operating Activities for full Year FY26 was $156.0 million"

Adjusted Operating Profit financial

"Adjusted Operating Profit 1 (also referred to as Adjusted EBIT) 3"

Adjusted operating profit is a measure of a company’s routine profit from its core business activities after removing one‑time events, unusual costs or non‑cash items so the result reflects ongoing operations. Think of it like judging a car’s normal fuel efficiency after ignoring a single visit to the body shop; investors use it to compare underlying profitability across periods or peers and to judge whether the business is sustainably earning money, but the specific exclusions can be subjective.

constant currency financial

"Constant currency refers to our financial results assuming constant foreign exchange rates"

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.

non-IFRS measure financial

"This is a non-IFRS measure. Reconciliations of IFRS measures to non-IFRS financial measures"

A non-IFRS measure is a financial number a company reports that is calculated outside standard accounting rules; it adjusts or removes items such as one-time costs, taxes, or accounting entries to highlight what management sees as the business’s recurring performance. Investors use these figures like a tailored snapshot to understand underlying trends — similar to a chef sharing a simplified recipe — but because they are not standardized, they require careful comparison and scrutiny.

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

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 May 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 and year ended March 31, 2026

On May 19, 2026, MakeMyTrip Limited (“MakeMyTrip”) issued a press release announcing its unaudited business and financial highlights for the fourth quarter of fiscal 2026 (i.e. quarter ended March 31, 2026) and for the full fiscal year of 2026 (i.e. year ended March 31, 2026). A copy of the press release dated May 19, 2026 is attached hereto as Exhibit 99.1.

Exhibit

99.1 Press release by MakeMyTrip Limited dated May 19, 2026.

EXHIBIT INDEX

99.1 Press release by MakeMyTrip Limited dated May 19, 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: May 19, 2026

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

Exhibit 99.1

EARNINGS PRESS RELEASE

MakeMyTrip Delivers Record $10.4 Billion Gross Bookings for FY26 Amidst Tough Macro-Environment

National, May 19, 2026 (NASDAQ: MMYT) — MakeMyTrip Limited, India’s leading travel service provider, today announced its unaudited financial and operating results for its fiscal fourth quarter and full year ended March 31, 2026 as attached herewith and available at www.sec.gov/ and on our website at http://investors.makemytrip.com.

Business & Financial Highlights | Q4 FY26 & Full Year FY26

•Gross Bookings for full year FY26 grew by 10.4% YoY in constant currency(2) and reached an all-time high of $10.4 billion in a year when travel sentiment was adversely impacted by multiple external events.

•While Revenue for the full year FY26 grew by 10.7% YoY in constant currency(2), the company saw stronger growth in Adjusted Margin(1) across segments with Air Ticketing growing 13.4%, Hotels and Packages growing 15.7%, Bus Ticketing growing 29.3% and Others growing 37.1% YoY in constant currency(2).

•Results from Operating Activities for full Year FY26 was $156.0 million registering a 30.1% growth YOY.

•Our focus on AI initiatives

oThe AI-powered travel assistant ‘Myra’ is now capable of taking a traveller from initial search to confirmed, paid booking, within a single conversational interface, and entirely by voice if desired.

oMyra engaged in over 54,000 daily conversations in Q4 FY26, with over 45% of usage now coming from Tier-2 and smaller cities.

oMyra is also driving meaningful efficiency gains post-booking, autonomously resolving approximately 55% of queries across Flights and Hotels in Q4 FY26.

	Q4 FY26 ($ Million)	Q4 FY25 ($ Million)	YoY Change (Constant Currency)2	FY26 ($ Million)	FY25 ($ Million)	YoY Change (Constant Currency)2
Gross Bookings	2,550.5	2,553.1	4.8%	10,390.8	9,803.1	10.4%
Revenue as per IFRS	250.1	245.5	6.7%	1,044.0	978.3	10.7%
Adjusted Margin1
Air Ticketing	99.3	94.2	10.7%	407.1	373.1	13.4%
Hotels and Packages	115.9	109.6	11.5%	476.8	429.5	15.7%
Bus Ticketing	41.1	36.5	17.1%	163.9	131.0	29.3%
Others	25.4	20.9	27.1%	94.9	72.0	37.1%
Results from Operating Activities	40.3	31.2		156.0	119.9
Adjusted Operating Profit1 (also referred to as Adjusted EBIT)3	46.5	44.7		188.8	167.3

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

We surpassed our annual Gross Bookings milestone of USD 10 billion and strengthened our position as the travel platform of choice. Despite a challenging market environment, it is encouraging to see double-digit, year-on-year growth in Adjusted Margins in constant currency across all our major verticals. This performance was led by Bus Ticketing at 29%+, followed by Hotels and Packages at 15%+, and Air Ticketing with 13%+. With the breadth of travel and ancillary services provided on our platform, the ‘Others’ category is making a tangible impact with an impressive 37% y-o-y growth.

Our focus on enhancing our AI capabilities is beginning to show results and shape how consumers experience the platform. Myra is unlocking first-time users from Tier-2 cities and beyond and resolving over 55% post-booking queries across Flights and Hotels in Q4 FY26.

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.

FAQ

How did MakeMyTrip (MMYT) perform financially in FY26?

MakeMyTrip reported record gross bookings of $10.4 billion, up 10.4% in constant currency. Full-year revenue reached $1,044.0 million, growing 10.7% in constant currency, while results from operating activities rose to $156.0 million, a 30.1% year-over-year increase.

What were MakeMyTrip’s Q4 FY26 revenue and gross bookings?

In Q4 FY26, MakeMyTrip generated $250.1 million in IFRS revenue, compared with $245.5 million in Q4 FY25. Quarterly gross bookings were $2,550.5 million versus $2,553.1 million a year earlier, with a 4.8% year-over-year increase in constant currency.

How did MakeMyTrip’s segment margins grow in FY26?

Adjusted Margin in constant currency grew across all segments in FY26. Air Ticketing increased 13.4% to $407.1 million, Hotels and Packages rose 15.7% to $476.8 million, Bus Ticketing grew 29.3% to $163.9 million, and Others advanced 37.1% to $94.9 million.

What was MakeMyTrip’s profitability in FY26?

Results from operating activities were $156.0 million in FY26, up from $119.9 million, reflecting 30.1% growth. Adjusted Operating Profit (Adjusted EBIT) increased to $188.8 million from $167.3 million, highlighting improved profitability alongside revenue and bookings growth.

How is MakeMyTrip using AI and its Myra assistant?

MakeMyTrip’s AI-powered assistant Myra can complete bookings through a conversational interface, including voice. In Q4 FY26, Myra handled over 54,000 daily conversations, with more than 45% from Tier-2 and smaller cities, and autonomously resolved about 55% post-booking queries.

What macro environment did MakeMyTrip face in FY26?

Management noted that FY26 travel sentiment was adversely impacted by multiple external events, describing a tough macro-environment. Despite this backdrop, the company achieved record gross bookings of $10.4 billion and double-digit constant-currency growth in revenue and segment Adjusted Margins.

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 EX-99.1 57.2 KB