MakeMyTrip, a Nasdaq-listed online travel aggregator, reported a net profit of US$27.1 million for the quarter ending Dec. 31, 2024.

This represents an 11.8% year-on-year (YoY) increase from US$24.2 million in the same period last year.

The company’s revenue grew by 24.8% to US$267.4 million, driven by strong performance across segments.

The hotels and packages segment contributed the most, generating US$121.9 million, with hotel bookings rising 21.9%. Bus ticketing revenue saw the highest growth at 31.3% YoY to US$35 million.

Revenue from other businesses, including travel services and marketing alliances, increased by 110.7% to US$27.1 million.

MakeMyTrip linked its overall revenue growth to increased travel demand in India during the quarter.

However, expenses also rose 21.4% YoY to US$232.7 million, driven by higher service, employee and marketing costs.

MakeMyTrip plans to acquire expense management platform Happay from CRED for US$11.7 million to enhance its corporate travel and expense management services.

Recent MakeMyTrip developments