MakeMyTrip revenue tops $1 billion for first time in FY26, Q4 profit falls
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Startup Spotlight India
- May 20, 2026
Online travel platform MakeMyTrip reported record annual gross bookings for FY26, navigating what it called a challenging year marked by multiple external disruptions in the travel sector.
The Nasdaq-listed company said gross bookings rose 10.4% year-on-year in constant currency to an all-time high of $10.4 billion. Revenue grew 10.7% to $1.04 billion, while operating profit surged 30.1% to $156 million.
Across segments, the company delivered strong adjusted margin expansion, led by bus ticketing (up 29.3%), followed by hotels and packages (15.7%), air ticketing (13.4%), and its “others” segment (37.1%).
In Q4 FY26, gross bookings remained largely flat at $2.55 billion compared to $2.553 billion a year ago, though they rose 4.8% in constant currency terms. Quarterly revenue increased to $250.1 million from $245.5 million, marking a 6.7% rise in constant currency.
Air ticketing adjusted margin grew 10.7% to $99.3 million during the quarter. Hotels and packages continued to be the largest contributor, with adjusted margins rising 11.5% year-on-year to $115.9 million. Bus ticketing also performed strongly, with margins up 17.1% to $41.1 million.
However, quarterly profit declined 16.8% to $24.3 million from $29.2 million in Q4 FY25, primarily due to finance costs more than doubling to $16.6 million. Segment-wise, air ticketing revenue fell 4.7% to $58.7 million, while hotels and packages revenue dipped 1.2% to $121.8 million.
For the full year, net profit dropped 45.8% to $51.7 million, even as revenue crossed the $1 billion milestone for the first time.
The company continued investing in artificial intelligence during the year. Its AI-powered travel assistant, Myra, now enables users to complete the entire journey—from search to booking—within a single conversational interface, including voice-based interactions.
According to the company, Myra handled over 54,000 daily conversations in Q4, with more than 45% of usage coming from Tier-2 and smaller cities. It also autonomously resolved around 55% of post-booking queries across flights and hotels.
Commenting on the performance, Rajesh Magow said the company surpassed the $10 billion annual gross bookings milestone while maintaining strong growth across verticals. He highlighted that bus ticketing led growth with over 29% expansion, followed by hotels and packages and air ticketing, while the “others” category delivered the fastest growth at 37%.
He added that the company’s focus on AI is beginning to reshape user experience, with Myra helping onboard first-time users from Tier-2 cities and resolving a significant share of post-booking queries.
