MakeMyTrip reported a 16.8% year-over-year drop in quarterly profit to $24.3 million for Q4 FY26, even as revenue inched up 1.9% to $250.1 million. The company experienced uneven growth across segments and cited external factors such as the Maha Kumbh Mela and West Asia conflict impacting its recent quarter’s performance.
- Q4 profit fell 16.8% to $24.3 million
- Revenue grew 1.9% to $250.1 million
- Air ticketing and hotels revenue declined
What happened
MakeMyTrip’s Q4 fiscal year 2026 results showed a 16.8% decrease in profit from $29.2 million to $24.3 million year-over-year. Though revenue increased slightly by 1.9% to $250.1 million, growth was uneven across its business lines. The company attributed slower momentum in February and March to last year’s Maha Kumbh Mela and ongoing geopolitical tension in West Asia disrupting travel demand.
Segment analysis revealed air ticketing revenue declined by 4.7% to $58.7 million and hotels and packages revenue dropped 1.2% to $121.8 million. Conversely, bus ticketing revenue increased by 7.3% to $35.9 million while the 'other' category surged 24.5% to $33.7 million. Despite these fluctuations, gross bookings remained steady at $2.6 billion during the quarter.
Why it matters
The results underscore how external events, such as major public gatherings and geopolitical conflicts, can heavily influence travel demand in India, impacting key industry players like MakeMyTrip. Despite the headwinds, the company managed to improve adjusted margins across segments, signaling operational efficiency and pricing discipline.
This mixed performance highlights the fragile recovery environment for online travel platforms in India. With travel patterns still disrupted and competition intensifying, companies like MakeMyTrip must carefully balance growth efforts against cost controls to sustain profitability in a volatile market.
What to watch next
Investors and industry watchers should monitor MakeMyTrip’s upcoming quarters for signs of revenue stabilization and profit recovery as the impact of last year’s Maha Kumbh fades and geopolitical tensions potentially ease. How the company leverages growth in bus ticketing and other expanding segments will be key to offsetting challenges in core air and hotel bookings.
Additionally, tracking gross bookings alongside margin trends will provide insight into demand health and pricing power. Continued innovation in offerings and expansion into new travel-related verticals could further shape MakeMyTrip’s trajectory as the Indian travel ecosystem evolves post-pandemic.