MMT clocks highest ever gross bookings in Q1FY25
Rajesh Magow, group CEO of MakeMyTrip said its gross booking value for quarter one was more than $2.4 billion, with growth at 22% year on year in constant currency terms, and the adjusted operating profit was $39.1 million registering a growth of 30% year on year.
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«Our strategy of catering to various travel use cases and targeting different demand segments on multiple customer touchpoints is helping us deliver sustained growth. A wide spectrum of travel products is also helping us increase the wallet share of Indian travelers,» he said.
«A positive development in this quarter was international outbound travel. As reported earlier, international outbound travel recovered fully in financial year 2024. We witnessed robust growth of 25% year on year in international air segments during this quarter. It now contributes over 37% to our air ticketing revenue,» he added.
Magow said the company's accommodation business that includes hotels, homestays, and packages, continues to witness strong growth.
«We recorded over 27% year on year growth in the adjusted margin on a constant currency basis, contributing 44% to the overall revenue. As we improve our penetration, we continue to add more properties across the country and now offer properties in 2100+ cities in India,» he added.
He said the holiday packages business also delivered 'robust' performance as well achieving
