MakeMyTrip Beats Earnings Estimates Despite Profit Drop

MakeMyTrip reported first-quarter FY27 financial results for the period ending June 30, 2026, showing a 6.2% revenue increase to $285.6 million. Gross bookings rose nearly 20% year-on-year to approximately $2.85 billion, and earnings per share of $0.53 exceeded Wall Street estimates of $0.43.

Reported profit fell over 64% to $9.1 million, down from $25.8 million in the prior year's first quarter. The company attributed the decline to a depreciating Indian Rupee and a subdued international outbound travel market resulting from conflict in West Asia. To modernize its services, the company launched Myra 2.0, an AI-powered conversational booking assistant.

Company stock rose following the financial report and news regarding a potential deal to end the war in Iran and reopen the Strait of Hormuz. Group CEO Rajesh Magow noted that travelers made alternative leisure choices despite macroeconomic disruptions and expressed a positive long-term outlook for the Indian travel market based on infrastructure development.