India’s leading online travel agency, MakeMyTrip, has revealed a strong performance for the three months ending December 31, 2024, showcasing significant growth across its various business segments. This growth highlights the ongoing transformation in the Indian travel market, with increasing consumer demand for both domestic and international travel.
Record Gross Bookings and Profit Growth
MakeMyTrip reported an impressive 27% year-over-year increase in gross bookings, reaching a substantial $2.6 billion in the third fiscal quarter of 2025. The company’s adjusted operating profit surged to $46 million, up from $33 million compared to the previous year. This remarkable profit growth was accompanied by a net profit increase, which rose to nearly $45 million, up from approximately $39 million in 2024. Additionally, the company’s revenue reached $267 million, a notable increase from $214 million during the same period in the previous year.
The impressive performance was driven by several key factors, including an uptick in air ticket sales and a substantial increase in both hotel and package bookings. Air ticketing revenue rose by 19%, amounting to $61 million for the quarter, up from nearly $52 million in 2024. Similarly, revenue from hotels and packages saw a 17% boost, bringing in $147 million compared to $126 million year-over-year. Bus ticketing revenue also showed positive growth, increasing from $24 million in 2023 to $32 million in 2024.
Strong Demand for Domestic and International Travel
The strong performance was attributed to a surge in overall bookings, with flights benefiting particularly from a rise in packaged travel and hotels gaining from sustained demand for both domestic trips and international vacations. The Indian travel market continues to grow, fueled by a young demographic with an increasing appetite for both domestic and outbound travel.
Impact of E-Commerce and Internet Penetration
Rajesh Magow, the CEO of MakeMyTrip, attributed the growth to the country’s growing travel demand and a rapidly expanding online travel market. With internet penetration reaching over 900 million connected users, the e-commerce and travel sectors in India are seeing a sharp increase in growth potential. He also noted that while internet penetration is widespread, the gap between online travel bookings and the country’s full travel potential is still considerable, suggesting there is still substantial room for growth in this sector. This trend highlights the significant opportunity for online travel platforms to further capitalize on the expanding demand for travel experiences in India.
Indian Travel Preferences and Tourism Trends
India’s young, tech-savvy population is increasingly inclined to invest in experiences, driving demand in both domestic and outbound travel sectors. Countries around the world have made concerted efforts to attract Indian travelers, with international tourism destinations seeing increased interest from India. The growing trend among Indians to seek new and diverse travel experiences has further propelled the success of companies like MakeMyTrip, which have been able to leverage these macroeconomic trends in their strategies.
In terms of specific destinations, both domestic and international travel have experienced strong demand, with many travelers seeking affordable yet memorable experiences. As a result, platforms like MakeMyTrip have capitalized on this trend by offering tailored packages and enhanced customer experiences that meet the desires of a young and dynamic demographic.
Strategic Investments and Strong Financial Execution
The company’s success has also been driven by targeted investments in technology, customer experience, and cost management. The increase in sales and marketing expenses—up by 31% to $47 million from the previous year—reflects the company’s ongoing efforts to strengthen its brand and reach a broader customer base. MakeMyTrip has focused on leveraging digital marketing channels and enhancing its technological infrastructure to ensure a seamless travel booking experience.
The company’s disciplined approach to cost management and its ability to scale up its offerings have allowed it to capture a growing share of the Indian travel market. The company is positioned to continue expanding, especially as the trend toward digital travel booking accelerates. With growing demand for both domestic holidays and international getaways, MakeMyTrip is well-placed to thrive in the booming travel industry.
Global Impact on the Travel Industry
The rising interest in travel from India is having a global effect, as many destinations are increasingly targeting Indian tourists. This shift is also influencing the global travel industry, with businesses around the world re-evaluating their strategies to cater to this expanding market. The booming demand for travel experiences, particularly from younger generations, will continue to shape the future of the travel sector in the coming years.
Moreover, the digitalization of travel booking services and the increasing use of e-commerce platforms have created new opportunities for international travel agencies to tap into the Indian market. Indian travelers, who are increasingly savvy and connected, are embracing technology to make travel bookings easier and more efficient, which has led to a rise in online travel agency bookings.
Looking Ahead
MakeMyTrip’s strong financial results reflect its ability to capitalize on these global travel trends and the resilience of the Indian travel market. As more travelers turn to online platforms for their travel needs, companies like MakeMyTrip are positioned to benefit from the increasing demand for both domestic and international travel experiences.
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