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Nasdaq-listed online travel aggregator (OTA) MakeMyTrip (MMT) reported a 73% decline in its net profit to $7.3 Mn for the quarter ended December 31, 2025 (Q3 FY26) from $27.1 Mn in the year-ago period, largely due to rise in finance costs.
On a sequential basis, the company recovered after posting a loss of $5.7 Mn.
Meanwhile, operating revenue increased 11% YoY and 29% QoQ to $295.7 Mn in Q3 FY26.
MakeMyTrip’s net finance cost in the quarter surged to $27.7 Mn from $4.8 Mn in the quarter ended December 31, 2024. This increase came primarily due to an increase of $24.2 Mn in interest expense on financial liabilities measured at amortised cost related to convertible senior notes due 2030.
The rise was due to the accounting effects resulting from its $3.1 Bn capital raise, comprising a mix of ordinary shares and zero-coupon convertible notes maturing in 2030. Excluding these costs, the company claimed that its adjusted net profit for the period improved 15% YoY to $51.4 Mn.
“Our diversified product portfolio of transport and accommodation options helped us mitigate the impact of slower growth in the domestic air travel market and deliver strong overall growth in this seasonal quarter. We remain focused on expanding our wallet share with Indian travelers each quarter, with comprehensive and differentiated offerings for new and existing customers. We are also progressing well on our AI journey to continuously improve customer experience and to make our organisation more efficient and agile,” group CEO Rajesh Magow said.
(The story will be updated soon)
The post MakeMyTrip Q3: Profit Falls 73% YoY To $7.3 Mn On Higher Finance Costs appeared first on Inc42 Media.
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