NEW DELHI: India’s biggest online travel portal MakeMyTrip (MMT) has recorded its highest ever annual bookings last fiscal thanks to the strong post Covid rebound in travel. While bookings rose 122% from Rs 26,158 in FY 2022 to Rs 53,841 crore in FY 23, MMT’s loss declined to Rs 90.2 crore in FY 2023 from Rs 377 crore in the previous fiscal. (For calculation dollar taken at Rs 82)
MMT Group CEO Rajesh Magow said: “We witnessed robust recovery in travel demand with significant improvement in consumer sentiment during the fiscal year ended March 31, 2023. We capitalised on this trend to deliver strong results with over 120% YoY constant currency growth in gross bookings. Our profitability expansion has also been significant, as we delivered a YoY increase of over 200% in adjusted operating profit for the reported fiscal year 2023… We remain well positioned for the next fiscal year with a strong pipeline of product innovation to further enhance customer experience.”
“Travel demand continues to be robust despite macroeconomic headwinds and Q4 being a seasonally slower quarter. Gross Bookings for Q4 FY23 grew by 80.7% YoY in constant currency to $1.7 billion. FY23 Gross Bookings grew by 122% YoY in constant currency to $6.6 billion,” MMT said in a statement.
MMT Group CEO Rajesh Magow said: “We witnessed robust recovery in travel demand with significant improvement in consumer sentiment during the fiscal year ended March 31, 2023. We capitalised on this trend to deliver strong results with over 120% YoY constant currency growth in gross bookings. Our profitability expansion has also been significant, as we delivered a YoY increase of over 200% in adjusted operating profit for the reported fiscal year 2023… We remain well positioned for the next fiscal year with a strong pipeline of product innovation to further enhance customer experience.”
“Travel demand continues to be robust despite macroeconomic headwinds and Q4 being a seasonally slower quarter. Gross Bookings for Q4 FY23 grew by 80.7% YoY in constant currency to $1.7 billion. FY23 Gross Bookings grew by 122% YoY in constant currency to $6.6 billion,” MMT said in a statement.