Strong Travel Demand Drives MakeMyTrip’s Growth in Q4 2024
MakeMyTrip reported strong financial growth in the final quarter of 2024, driven by rising travel demand and increased gross bookings across flights, hotels, and packages.
For the three months ending December 31, 2024, gross bookings rose 27% year-over-year (YoY) to $2.6 billion, while net profit reached nearly $45 million, up from $39 million in the same period of 2023. Revenue grew 25% YoY to $267 million, up from $214 million.
Key revenue gains included:
- Air ticketing revenue up 19% to $61 million.
- Hotels and packages revenue up 17% to $147 million.
- Bus ticketing revenue up 33% to $32 million.
CEO Rajesh Magow credited the growth to robust domestic and outbound travel demand. “The Indian travel sector is witnessing strong momentum, with more travelers eager to explore both local and international destinations,” he said. Increased internet penetration and rising e-commerce adoption continue to fuel MakeMyTrip’s expansion.
Group CFO Mohit Kabra highlighted the company’s disciplined cost management and investment in technology as key drivers of profitability. “Our strategic execution and strong market demand have allowed us to maintain growth across all business lines,” he stated.
MakeMyTrip’s sales and marketing expenses rose 31% YoY to $47 million, reflecting higher spending to capture growing demand. The company remains optimistic about long-term growth potential in India’s expanding online travel market.
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