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MakeMyTrip Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Oct, 2025
Executive summary
Q2 FY26 saw a rebound in travel demand across most segments, with strong growth in hotels, international air, and bus, despite supply constraints in domestic aviation.
Diversified product portfolio, omni-channel strategy, and advanced technology, including AI initiatives, drove user engagement and operational efficiency.
Gross bookings increased 13.1% year-over-year to $2,447.3 million for the quarter, with robust non-flight and international travel growth.
The company is a leading travel services provider in India, with a strong management team and expanding international presence.
Net loss of $5.7 million for the quarter, mainly due to $28.3 million in notional interest costs and $14.3 million in forex losses, despite strong operating performance.
Financial highlights
Adjusted operating profit reached $44.2 million, up 18% year-on-year.
Revenue for the quarter was $229.3 million, up 8.7% year-over-year.
Cash and cash equivalents increased to $835.4 million as of September 30, 2025.
Diluted loss per share was $0.06, compared to earnings per share of $0.16 last year.
Adjusted net profit was $36.4 million, down from $40.7 million year-on-year.
Outlook and guidance
Management expects government tax concessions and GST benefits to boost discretionary spending and drive growth in the second half of the fiscal year.
Guidance for adjusted margin growth in the 20% range for the full fiscal year, with potential upside if domestic air rebounds.
Continued expansion into international markets, including UAE, LATAM, and Southeast Asia.
What drove the Q2 net loss despite operating profit?
Elaborate on domestic air supply constraints
Update on share repurchase program execution?
Quantify AI's impact on conversion or costs?
How to manage investor perception of net loss?
Sustain market share leadership across segments?
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Next MakeMyTrip earnings date
Q3 202622 Jan, 2026
Next MakeMyTrip earnings date
Q3 202622 Jan, 2026
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Frequently asked questions
MakeMyTrip Limited, commonly known as MakeMyTrip (MMYT), operates as an online travel company. It primarily focuses on providing travel services for customers, including flight tickets, domestic and international holiday packages, hotel reservations, and rail and bus tickets. The platform caters to the travel needs of individuals and businesses, aiming to simplify the process of planning and booking travel. In addition to its core offerings, MakeMyTrip also provides travel insurance, visa processing, and other travel-related assistance to ensure a comprehensive travel planning experience. The company has significantly contributed to the digitization of travel booking in India and has expanded its services to cater to a global customer base through its website, mobile applications, and other platforms. The company is headquartered in Gurugram, Haryana, India, and its shares are listed on the NASDAQ.
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