MakeMyTrip Q3 result: EBITDA more than doubles to USD 29.4 million

Travel services provider MakeMyTrip on Tuesday said its EBITDA grew 105.6 per cent to USD 29.4 million in the December quarter as compared to USD 14.3 million in the same period last fiscal.

The NASDAQ-listed firm said it delivered its highest-ever quarterly gross bookings, revenue and profit on the back of strong travel demand during this seasonally strong quarter.

Gross bookings grew 21.7 per cent in constant currency to USD 2,088.3 million in the October-December period from USD 1,738.2 million in the year-ago period.

The revenue as per International Financial Reporting Standards (IFRS) grew 26.9 per cent year-on-year in constant currency to USD 214.2 million in the third quarter of the ongoing fiscal from USD 170.5 million a year ago, the company stated.

Its adjusted operating profit registered 69.5 per cent growth to USD 33.4 million in the third quarter. EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is an alternative measure of a company's overall financial performance.

"During this seasonally strong quarter, we witnessed robust demand for leisure travel across all domestic and international destinations leading to the highest-ever quarterly gross bookings, revenue, and profit for the group," MakeMyTrip Group Chief Executive Officer Rajesh Magow said.

"We are excited about the opportunities that lie ahead of us, as the travel and tourism sector is a focus area for the Indian government and is expected to benefit from increased investments in travel infrastructure," he said.