Key Takeaways
MakeMyTrip (NASDAQ: MMYT) reported a full-year profit of $51.8 million for fiscal 2026, as a surge in domestic travel and bus ticketing offset headwinds from geopolitical conflict in West Asia.
"Travel has shifted from occasion to habit," Co-Founder and Group Chief Executive Officer Rajesh Magow said, noting that booking frequency per user is rising and three to six trips annually is becoming more common.
For the full year, the online travel company saw gross bookings hit a record $10.4 billion, compounding at roughly 34% over the last four years. The company posted full-year revenue of $1.04 billion, with adjusted operating profit rising 30.1% to $156 million.
While the West Asia conflict created uncertainty for international travel in the fourth quarter, the company saw strength in its domestic segments. Bus ticketing volumes rose 27.6% year-over-year for the quarter, while the accommodations business, including hotels and homestays, saw volumes increase by 15.2%.
Group Chief Operating Officer Mohit Kabra noted the company recorded its highest-ever domestic hotel check-ins on the Jan. 24 weekend, crossing 200,000 room nights in a single day for the first time.
MakeMyTrip is increasingly focused on artificial intelligence, with its Myra conversational AI interface assisting in over 200,000 bookings during the quarter. Magow said users interacting with Myra show 10% higher conversion rates. The company is also using AI to write 60% to 70% of new code and resolve 55% of customer queries via digital voice agents.
On capital allocation, the company has nearly completed its $100 million share buyback plan. CFO Deepak Bohra also said an internal restructuring that combined key India brands under a single entity enables the company to evaluate a potential listing of the India business "at the appropriate stage," though no timeline has been set.
The strong domestic performance and growing contribution from AI tools suggest a solid foundation for growth, even as the company navigates external pressures on international travel. Investors will watch for further details on the potential India listing and the sustained performance of its AI-driven booking platforms.
This article is for informational purposes only and does not constitute investment advice.
