MakeMyTrip Posts Double-Digit Revenue Growth but Sharp Drop in Q3 FY26 Profit
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The latest announcement is out from Makemytrip ( (MMYT) ).
On January 21, 2026, MakeMyTrip reported its unaudited results for the fiscal third quarter ended December 31, 2025, showing revenue of $295.7 million, up 10.6% year-on-year (15.4% in constant currency), driven mainly by continued expansion in hotels and packages, bus ticketing and other services, while air ticketing revenue remained broadly flat. Gross bookings for the quarter rose 6.6% to $2.78 billion, and adjusted operating profit and adjusted net profit increased to $50.7 million and $51.4 million respectively, but reported profit for the period fell sharply to $7.3 million, down 73.1% year-on-year, highlighting a widening gap between IFRS and non-IFRS performance measures that investors will scrutinize as the company balances growth across travel verticals with profitability.
The most recent analyst rating on (MMYT) stock is a Hold with a $79.00 price target. To see the full list of analyst forecasts on Makemytrip stock, see the MMYT Stock Forecast page.
Spark’s Take on MMYT Stock
According to Spark, TipRanks’ AI Analyst, MMYT is a Neutral.
The score is primarily constrained by balance-sheet risk (negative TTM equity) and a demanding valuation (P/E 124.075). These are partly offset by strong operating trends and positive free cash flow, while technicals are mixed and the latest earnings call was generally positive but noted domestic demand and finance-cost headwinds.
To see Spark’s full report on MMYT stock, click here.
More about Makemytrip
MakeMyTrip Limited is India’s leading online travel services provider, operating across air ticketing, hotel and holiday packages, bus ticketing and other transport services, with a strong presence in both the domestic and international travel markets. Listed on Nasdaq, the company focuses on aggregating and distributing travel products digitally to retail consumers, leveraging its scale in air, hotels, and intercity surface transport to capture growth in India’s expanding travel and tourism sector.
Average Trading Volume: 1,154,999
Technical Sentiment Signal: Hold
Current Market Cap: $7.01B
See more data about MMYT stock on TipRanks’ Stock Analysis page.
