MakeMyTrip Limited Earnings Recaps
Q4 2026
May 20, 2026
Shares fell 7.7% following the earnings release as investors reacted negatively to the cautious outlook and visible deceleration in key international segment performance amid geopolitical headwinds, overshadowing resilient domestic demand.
Key takeaways
- International business growth slowed notably in March due to the Middle East conflict, tempering overall momentum.
- Domestic segment showed strength and continued steady year-on-year growth through January and February.
- The company highlighted ongoing structural market growth drivers but flagged near-term headwinds impacting international bookings.
- Management refrained from raising guidance, reflecting a cautious stance amid geopolitical uncertainty.
- Long-term growth narrative remains intact but short-term execution risks have emerged, weighing on investor sentiment.
Q3 2026
Jan 21, 2026
In Q3 of fiscal 2026, the company demonstrated resilience with robust demand recovery in leisure travel, even amidst temporary regulatory disruptions, supported by strong performance in international travel and innovative AI-driven solutions.
Key takeaways
- Air ticketing experienced a year-on-year domestic daily departures growth of 25% in October and November before a December decline due to new flight duty regulations.
- The accommodation segment recorded impressive 20.3% volume growth, driven by strong leisure demand and favorable tax changes, despite moderate gross booking value growth reflecting lower pricing.
- AI initiatives, including personalized trip planning through Myra and enhancements in customer service, have improved engagement and efficiency, particularly in tier two cities, contributing to a 50% increase in voice interactions in non-metro areas.
- The launch of tours and activities expanded the product portfolio, providing customers access to over 200,000 bookable activities across 130 countries, aiming to simplify the planning process for travelers.
- Strong year-end performance is further evidenced by record check-ins on December 25th, indicating a robust market response to the festive season and renewed travel demand.