The strong top-line growth across all segments and the swing to profitability suggest continued momentum. Monitor the next quarter for sustained growth in adjusted margins and further adoption of AI tools, which could support margin expansion.
Price Chart
Executive Summary
MakeMyTrip reported Q2 FY27 results with Gross Bookings up 20.9% YoY to $2.7B and IFRS revenue up 11.2% to $235.2M. The company swung to a profit of $1.8M from a loss of $5.7M in the prior year, while Adjusted Net Profit Before Tax rose to $46.2M from $36.4M. All non-air segments showed strong adjusted margin growth, and the AI chatbot Myra drove higher conversion rates.
Key Facts
- Gross Bookings grew 20.9% YoY in constant currency to $2,724.7M
- IFRS revenue grew 11.2% YoY to $235.2M
- Profit for the period was $1.8M vs a loss of $5.7M in Q2 FY26
- Adjusted Net Profit Before Tax grew to $46.2M from $36.4M
- Hotels and Packages adjusted margin grew 20.2% YoY; Bus Ticketing 29.0%; Others 29.8%
- Air Ticketing adjusted margin grew 14.3% YoY
- AI chatbot Myra engaged in over 90,000 daily conversations and drove 1.7x more bookings vs non-Myra users
Financial Impact
Revenue grew 11.2% YoY to $235.2M; profit swung from -$5.7M to +$1.8M; Adjusted Net Profit Before Tax up 27% to $46.2M
Risk Factors
- Challenging macro environment cited by management could pressure future growth
- Constant currency adjustments may mask underlying FX headwinds
- Non-IFRS adjusted metrics may differ from reported IFRS results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-431006 |
| Document: mmyt-6k-pr-2026-oct.htm | 0001193125-26-431006 |
| Document: 0001193125-26-431006-index-headers.html | 0001193125-26-431006 |
| Document: 0001193125-26-431006-index.html | 0001193125-26-431006 |
| Document: 0001193125-26-431006.txt | 0001193125-26-431006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 6-K | $42.15 | awaiting T+20 | — | $41.79 (−0.84%) |
Oct 26, 2026 1d ago | 6-K | $42.15 | awaiting T+20 | — | $41.79 (−0.84%) |
Sep 28, 2026 29d ago | 6-K | $47.39 $41.20 | ▼ −13.06% | ▼ −13.03% | $41.79 (−11.81%) |
Aug 3, 2026 12w ago | 6-K | $61.78 $58.26 | ▼ −5.70% | ▼ −6.94% | $41.79 (−32.35%) |
Jul 17, 2026 14w ago | 6-K | $54.62 $60.42 | ▲ +10.62% | ▲ +6.17% | $41.79 (−23.48%) |
May 19, 2026 23w ago | 6-K | $41.46 $45.45 | ▲ +9.62% | ▲ +8.64% | $41.79 (+0.81%) |
US Market Status
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