Business Travel: MakeMyTrip reports highest quarterly ever gross bookings at $2 billion in Q1 FY24

NEW DELHI: India’s largest online travel agency MakeMyTrip on Tuesday reported its highest ever quarterly gross bookings and profits in the April-June, 2023, quarter. While gross bookings grew by 31.4% to $2 billion, over same period last fiscal, adjusted operating profit was $30.1 million, up 83% from $16.5 million in Q1 FY23.

The company says “travel demand for both leisure and business travel witnessed strong growth during the quarter leading to all-time high gross bookings in our company’s history.”
MakeMyTrip group CEO Rajesh Magow said: “We have started the new financial year on a positive note, delivering our strongest ever quarter with all- time high gross bookings and profits. Travel demand across customer segments stayed robust in a seasonally strong quarter for leisure travel. The depth of travel-related offerings and quality customer experience that we deliver, powered by robust technology and product innovations, along with our strong brand are helping us cater to the evolving consumer preferences and stay ahead of the market.”