MakeMyTrip, the Nasdaq-listed travel booking platform, logged a nearly twofold rise in its net profit sans exceptional gains in the quarter ended March 2025.
The platform posted a bottom line of $29.2 million during the fourth quarter. In comparison, the net profit excluding exceptional items stood at $15.2 million in the year-ago quarter.
However, the exceptional gains in the March 2024 quarter had pushed the overall net profit during that period to $171.9 million. This included a one-time net credit of $126.1 million from deferred tax asset recognition and a $30.6 million gain due to changes in the carrying value of its convertible notes due in 2028.
Meanwhile, in the January-March period of fiscal 2025, MakeMyTrip’s gross bookings grew 30.4% year-on-year in constant currency, reaching $2,553.1 million from $2,039.0 million.
Revenue under IFRS, or International Financial Reporting Standards, increased 25.6% in constant currency terms, rising to $245.5 million from $202.9 million.
