MakeMyTrip (MMYT) Fiscal Q2 2027 Earnings Call: Non-Air Growth Offsets Aviation Pressure
Source Tradingkey
Key Takeaways
- MakeMyTrip reported fiscal Q2 2027 gross bookings of $2.7 billion, up 20.9% year over year in constant currency, despite weaker air travel demand.
- Adjusted operating profit rose 13.8% in constant currency to $46.2 million. Adjusted operating margin was 1.7% of gross bookings, versus 1.8% a year earlier.
- Growth was led by hotels, buses and ancillary services. Non-air businesses represented 63.2% of the mix, up from 61.5% in the prior-year quarter.
- Hotels and Packages adjusted margin increased 20.2% in constant currency to $116.8 million, while Bus Ticketing adjusted margin rose 29.0% to $45.1 million.
- Myra handled more than 90,000 daily conversations and assisted over 3,000 bookings per day. Customers using Myra converted at approximately 1.7 times the rate of other customers.
- Management maintained its long-term view on India’s travel market but highlighted geopolitical uncertainty, elevated aviation turbine fuel prices, rupee depreciation and constrained airline capacity as near-term risks.
Key Financial Data
| Metric | Fiscal Q2 2027 result | Year-over-year change / context |
|---|---|---|
| Gross bookings | $2.7 billion | +20.9% in constant currency |
| Adjusted operating profit | $46.2 million | +13.8% in constant currency |
| Adjusted operating margin | 1.7% of gross bookings | 1.8% a year earlier |
| Adjusted net profit before tax | $46.2 million | +27% |
| Air Ticketing adjusted margin | $108.6 million | +14.3% in constant currency |
| Hotels and Packages adjusted margin | $116.8 million | +20.2% in constant currency |
| Bus Ticketing adjusted margin | $45.1 million | +29.0% in constant currency |
| Other segment adjusted margin | $24.4 million | +29.8% in constant currency |
| Marketing and sales promotion | 5.4% of gross bookings | 5.2% a year earlier |
| Cash and cash equivalents | $815 million | Quarter-end balance |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin falls below the $80,000 mark as the October FOMC decision approaches, threatening a further dip toward $75,000.On October 26, Bitcoin (BTC) again lost the key psychological mark o
Gold breaks $4,000 as oil becomes the inflation problem — $3,943 is the line that mattersSpot gold closed at $3,995.6 on October 23, down about 4.1% for the week and at its lowest since mid-July, and traded near $3,988 on October 26 even as Brent crude settled at $116.72 and Middle East supply risk stayed elevated. The war premium stopped working because oil is now the inflation trade: December Fed hike odds are 68.9% and the 10-year yield is 4.988%. Here are the three numbers, the transmission chain, and the July low at $3,943 that decides whether this is a bottom or a bigger correction.
Spot gold closed at $3,995.6 on October 23, down about 4.1% for the week and at its lowest since mid-July, and traded near $3,988 on October 26 even as Brent crude settled at $116.72 and Middle East supply risk stayed elevated. The war premium stopped working because oil is now the inflation trade: December Fed hike odds are 68.9% and the 10-year yield is 4.988%. Here are the three numbers, the transmission chain, and the July low at $3,943 that decides whether this is a bottom or a bigger correction.
Big Tech's $800 billion AI bill faces its first real test — free cash flow is the judgeAlphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.
Alphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 26, 2026. Read on for the details.
West Texas Intermediate (WTI) oil price declines after registering over 4% gains in the previous trading day, hovering around $101.10 during Asian hours on Monday.
