MakeMyTrip Reports $2.7 Billion in Q2 Bookings, Sees Growth in Hotels and Packages Amid Weaker Air Travel.
✈ MakeMyTrip, India's largest online travel agency, reported $2.7 billion in gross bookings for Q2, up 21% year-over-year. Adjusted operating profit reached $46.2 million. Non-air businesses contributed 63.2% to bookings, up from 61.5%. Domestic air departures fell 7%, international 4%, while fares increased 25%-30%. MakeMyTrip holds over 30% of domestic air-ticketing. Hotels and packages constitute 40% of the business, with stand-alone hotel room nights up 18.6% and domestic room nights up over 20%.
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