Summary by Moomoo AI
MakeMyTrip Limited reported robust financial results for fiscal year 2024, with revenue increasing 32% year-over-year to $782.5 million. The company's adjusted operating profit more than doubled to $124.2 million, driven by strong growth across air ticketing, hotels and packages, and bus ticketing segments.Gross bookings rose 21.1% to $7.95 billion, reflecting sustained elevated travel demand in India for both domestic and international outbound travel. Air ticketing revenue grew 36.2% to $201.2 million, while hotels and packages revenue increased 29% to $435.5 million. The company reported a net profit of $216.7 million for the year.MakeMyTrip ended the fiscal year with a strong liquidity position of $607.8 million in cash and cash equivalents and term deposits. Management expressed confidence in the company's growth trajectory, citing ongoing investments in technology and expansion of service offerings to capitalize on India's growing online travel market.
