MakeMyTrip's Q1 2026 Earnings: Resilient Performance with 5.6% Revenue Growth

MakeMyTrip reported Q1 2026 revenue of $268.8mln, a 5.6% increase YoY, with significant growth in bus ticketing and other travel services. Gross bookings rose 12.4% YoY to $2.6bln, and adjusted operating profit and net profit improved. Despite mixed results, the company's adjusted margins improved across all segments. Looking ahead, MakeMyTrip remains optimistic about the long-term growth prospects of the travel sector in India.

MakeMyTrip Ltd (MMYT) reported its Q1 2026 earnings on July 22, 2025, with a revenue of $268.8 million, marking a 5.6% year-over-year (YoY) increase. The company's gross bookings rose 12.4% YoY to $2.6 billion, while adjusted operating profit and net profit improved [1]. Despite mixed results, the company's adjusted margins improved across all segments.

Significant growth was observed in bus ticketing and other travel services, with bus ticketing adjusted margin increasing by 34.1% YoY to $42.6 million. The international air ticketing revenue grew by over 27% YoY, and international hotels revenue increased by over 45% YoY. The company expanded its international hotel supply by adding over 2,000 directly contracted hotels across 50 cities in 20 countries [2].

However, domestic leisure travel demand was negatively impacted by geopolitical tensions and a tragic airplane crash, affecting overall growth. The holiday Packages business was largely flat year on year due to the impact on domestic leisure travel. The company faced operational disruptions in the domestic Air Ticketing market, affecting growth in this segment. Despite strong growth in international segments, the overall revenue growth was limited to 7.8% YoY due to external events [3].

Looking ahead, MakeMyTrip remains optimistic about the long-term growth prospects of the travel sector in India. The company expects growth to improve in the next three quarters as the impact of May and June events subsides. The adjusted margin growth was close to 18.8%, indicating comfort in achieving high teens to 20% growth for the year [3].

References:
[1] https://www.ainvest.com/news/makemytrip-q1-2026-earnings-preview-revenue-expected-reach-0-30-billion-earnings-0-29-share-2507/
[2] https://seekingalpha.com/news/4469814-makemytrip-non-gaap-eps-of-042-in-line-revenue-of-26885m-misses-by-164m
[3] https://finance.yahoo.com/news/makemytrip-ltd-mmyt-q1-2026-070425658.html