Travel Biju John | October 26, 2026

MakeMyTrip delivers strong Q2 performance despite challenging macro environment

MakeMyTrip Limited announced its unaudited financial and operating results for its fiscal second quarter ended September 30, 2026

Key Financial Highlights
- Gross Bookings: $2.72 billion, up 20.9% YoY (constant currency)
- Revenue (IFRS): $235.2 million, up 11.2% YoY
- Results from Operating Activities: $36.7 million (vs. $34.4 million last year)
- Adjusted Operating Profit (EBIT): $46.2 million (vs. $44.2 million)
- Adjusted Net Profit Before Tax: $46.2 million (vs. $36.4 million)
- Profit for the Period: $1.8 million, improving from a loss of $5.7 million in Q2 FY26

Segment Performance
All major business segments reported strong year-over-year growth in adjusted margin:
- Segment Q2 FY27 YoY GrowthAir Ticketing $108.6M +14.3%
- Hotels & Packages $116.8M +20.2%
- Bus Ticketing $45.1M +29.0%
- Others $24.4M +29.8%

AI Initiative Highlights (Myra)
MakeMyTrip emphasized growing adoption of its AI travel assistant, Myra:
- Handled 90,000+ daily conversations across multiple Indian languages and English.
- More than 55% of interactions came from Tier II and Tier III cities.
- Resolved over 53% of post-booking flight and hotel queries.
- Supported 3,000+ completed bookings per day on average.
- Users engaging with Myra completed approximately 1.7x more bookings than non-Myra users.
- Users from Tier II and Tier III cities engaging with Myra completed approximately 2.1x more bookings than comparable non-Myra users.

Management Commentary
Group CEO Rajesh Magow highlighted:
- Strong growth despite a challenging travel environment.
- Continued momentum in hotels and ground transport.
- Increasing use of AI to simplify travel planning and booking.
- Ongoing disciplined investment to capture India's long-term travel growth opportunity while maintaining profitability.

Key Takeaway
- For investors, the report suggests MakeMyTrip is successfully balancing growth, profitability, and AI-led customer engagement while benefiting from continued expansion of India's travel market.