MakeMyTrip swings to $1.8M profit in Q2 FY27, revenue rises 2.5%
MakeMyTrip reported a net profit of $1.8 million for the second quarter of FY27, reversing a $5.7 million loss from the same period last year. Revenue grew 2.5% year-over-year to $235.2 million, though currency depreciation masked stronger underlying growth.
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Profitability returns after a year
MakeMyTrip reported a net profit of $1.8 million for the second quarter of FY27, a turnaround from a $5.7 million loss in the same quarter of FY26, according to Inc42. The company attributed the shift to higher operating profit and lower net finance costs.
Revenue growth offset by currency headwinds
Revenue for Q2 FY27 reached $235.2 million, a 2.5% year-over-year increase. However, on a constant currency basis, revenue grew 11.2%, reflecting a nearly 10% depreciation of the rupee against the dollar. MakeMyTrip’s major subsidiaries operate in rupees, which impacted reported revenue.
Gross bookings and segment performance
Gross bookings rose 11.3% to $2.72 billion during the quarter, or 20.9% on a constant currency basis. The bus ticketing segment saw strong growth, with revenue climbing 16.6% to $39.1 million, driven by a 24.7% increase in ticket volumes. However, hotels and packages revenue declined 1% to $107.1 million, reflecting subdued international long-haul travel due to higher airfares and a weaker rupee.
Domestic demand counters international pressures
Strong domestic travel demand partially offset challenges in international travel, where elevated fuel prices and a weaker rupee dampened outbound bookings from India. The company’s focus on domestic segments, particularly bus ticketing, helped sustain growth amid global uncertainty.
What this means
Lazyfounder analysis — our interpretation, not reported fact.
MakeMyTrip’s swing to profitability signals resilience in India’s travel market, particularly for domestic segments. The currency impact—revenue growth nearly five times higher on a constant currency basis—highlights how exchange rates can distort performance for companies with rupee-denominated operations. For founders and operators in travel or export-linked sectors, this underscores the importance of hedging strategies or diversifying revenue streams to mitigate currency risks.
The contrast between domestic strength and international weakness also reflects broader trends: Indian consumers continue to prioritize local travel, while global factors like fuel prices and exchange rates create headwinds for outbound tourism. Startups in adjacent sectors, such as hospitality or mobility, may find opportunities in catering to domestic demand, especially as MakeMyTrip’s potential acquisition of Quick Ride suggests a push into urban mobility (see our earlier reporting on the talks).
Segment performance offers a mixed lesson. While bus ticketing thrived, hotels and packages stagnated, revealing uneven recovery across verticals. Operators should assess whether their own segments face similar volatility and adjust supply or pricing strategies accordingly.
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Sources
- Inc42 · 2026-10-26
MakeMyTrip Swings To $1.8 Mn Profit In Q2 FY27, Revenue Up 2.5% YoY
This story is an original summary drafted with AI by Lazyfounder from the reporting listed above and checked by automated validation. Facts are attributed to their original publishers; sections marked as analysis are Lazyfounder's. Where a source is in another language, facts were machine-translated and quotations are reported, not reproduced. Read the original coverage via the links, and see our AI policy and corrections policy.
About the author
Editor, Lazyfounder
Tarun Mottlia edits LazyFounders, covering Indian startups, funding rounds, AI and product launches. Every story on the site is AI-assisted and checked against its cited sources before publication.
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