MakeMyTrip Reports $5.7 Million Loss in September Quarter Amidst Revenue Growth

MakeMyTrip, the NASDAQ-listed travel booking platform, announced a $5.7 million net loss for the quarter ending September 30, 2025, contrasting with a $17.9 million profit in the prior year's same period. Revenue for the quarter grew by 8.7% to $229.3 million, boosted by robust travel demand in India.

According to Group Chief Operating Officer Mohit Kabra, the loss was mainly attributed to accounting adjustments from its recent $3.1 billion capital raise, which includes future interest costs, and a $14.3 million foreign exchange loss due to the rupee's depreciation. These are primarily non-cash items.

Crucially, MakeMyTrip's adjusted operating profit saw a significant 17.9% year-on-year increase to $44.2 million, indicating strong underlying business performance. Group Chief Executive Officer Rajesh Magow noted improved travel sentiment, though domestic air travel recovery faces supply constraints.

Impact: This news indicates a temporary, accounting-driven loss, while core business metrics like revenue and adjusted operating profit show strength. This suggests underlying resilience, but the reported loss may cause short-term stock price volatility. Rating: 6/10

Difficult Terms Explained: P&L: Stands for Profit and Loss, a financial statement summarizing revenues, costs, and expenses over a period to determine profitability. Constant currency: A financial reporting method that removes the effects of exchange rate fluctuations to allow for clearer comparison of performance across different periods. Zero-coupon notes: A type of bond that pays no periodic interest but is sold at a discount to its face value, with the full face value paid at maturity. Foreign exchange loss: A financial loss incurred when the value of a currency in which assets are held or liabilities are denominated depreciates relative to another currency. Adjusted operating profit: A measure of profitability that excludes specific expenses (like interest, taxes, depreciation, amortization) to provide a clearer view of a company's core operational performance.