Global Finance News
26 Oct 2026, 18:52
MakeMyTrip Falls 3% as Currency Pressure and Weak International Travel Offset Strong Booking Growth
MakeMyTrip (NASDAQ: MMYT) shares fell about 3% after the company reported solid fiscal second-quarter 2027 booking growth but faced significant currency headwinds and weaker international travel demand.
Gross bookings increased 20.9% year over year in constant currency to $2.72 billion. Adjusted margins also improved across major businesses, rising 14.3% in air ticketing, 20.2% in hotels and packages, 29.0% in bus ticketing and 29.8% in other businesses.
Revenue reached $235.2 million, up only 2.5% on a reported basis, although growth was a much stronger 11.2% in constant currency. The gap largely reflected a roughly 10% year-over-year depreciation of the Indian rupee against the U.S. dollar.
International long-haul outbound travel from India also remained subdued as higher fuel prices pushed airfares higher and the weaker rupee increased the cost of overseas trips. Domestic travel demand remained strong and partially offset those pressures.
Adjusted operating profit increased modestly to $46.2 million from $44.2 million a year earlier, while adjusted net profit before tax rose to $46.2 million from $36.4 million.
The 3% decline appears to reflect investor focus on relatively weak reported revenue growth, foreign-exchange pressure and softer international travel conditions despite strong underlying booking growth and continued expansion across domestic travel businesses.
MakeMyTrip (NASDAQ: MMYT) shares fell about 3% after the company reported solid fiscal second-quarter 2027 booking growth but faced significant currency headwinds and weaker international travel demand.
Gross bookings increased 20.9% year over year in constant currency to $2.72 billion. Adjusted margins also improved across major businesses, rising 14.3% in air ticketing, 20.2% in hotels and packages, 29.0% in bus ticketing and 29.8% in other businesses.
Revenue reached $235.2 million, up only 2.5% on a reported basis, although growth was a much stronger 11.2% in constant currency. The gap largely reflected a roughly 10% year-over-year depreciation of the Indian rupee against the U.S. dollar.
International long-haul outbound travel from India also remained subdued as higher fuel prices pushed airfares higher and the weaker rupee increased the cost of overseas trips. Domestic travel demand remained strong and partially offset those pressures.
Adjusted operating profit increased modestly to $46.2 million from $44.2 million a year earlier, while adjusted net profit before tax rose to $46.2 million from $36.4 million.
The 3% decline appears to reflect investor focus on relatively weak reported revenue growth, foreign-exchange pressure and softer international travel conditions despite strong underlying booking growth and continued expansion across domestic travel businesses.
