MakeMyTrip records highest Bookings ever & profit crosses $171.9 million in Q4
Online travel specialist company MakeMyTrip revealed a net profit of $171.9 million in the final quarter finished March 31, 2024. The organization had posted a profit of $5.4 million in a similar quarter in the past financial year.
The profit remembers a one-time credit of $126.1 million for acknowledgment of conceded charge resources and a one-time gain of $30.6 million because of the adjustment of the conveying worth of its convertible notes. Gross trip bookings rate in the quarter remained at $2,039 million contrasted with $1,673.9 million in the year-prior period, the company added. In FY24, profit was at $216.7 million.
The organization had posted a loss of $11.2 million in FY23. Net bookings of MakeMyTrip for FY24 remained at $7,954.4 million against $6,566.2 million in FY23, the organization said.
Speaking to this, MakeMyTrip Group Chief Executive Officer Rajesh Magow says, “Our strategy to serve millions of our customers and first-time travellers through a comprehensive portfolio of travel and ancillary products with personalised experiences is yielding results.”
“We are pleased that we have bounced back stronger from the COVID-19 pandemic by posting our best-ever financial performance during fiscal year 2024 in terms of both gross bookings and profit,” he added.
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