MakeMyTrip Reports Q3 Adjusted EBIT of $50.7M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Reports Q3 adjusted EBIT $50.7M vs $46M last year. Commenting on the results, Rajesh Magow, Group Chief Executive Officer, MakeMyTrip, said, "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."
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Analyst Views on MMYT
Wall Street analysts forecast MMYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MMYT is 118.00 USD with a low forecast of 113.00 USD and a high forecast of 123.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 62.060
Low
113.00
Averages
118.00
High
123.00
Current: 62.060
Low
113.00
Averages
118.00
High
123.00
About MMYT
MakeMyTrip Limited is an online travel provider. The Company's segments include Air Ticketing, Hotels and Packages, and Bus Ticketing. The Air ticketing segment provides the facility to book domestic and international air tickets through Internet-based platforms. The Hotels and packages segment provides holiday packages and hotel reservations through Internet-based platforms, call centers, and franchise stores. The Bus ticketing segment provides the facility to book domestic and international bus tickets through Internet-based platforms. Through its primary websites, such as www.makemytrip.com, www.goibibo.com, and www.redbus.in, and mobile platforms, travelers can research, plan and book a range of travel services and products in India, as well as overseas. The Company's services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements. It also provides an inter-city car rental service.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
MakeMyTrip Reports 73.1% Profit Decline in Q3
- Significant Profit Decline: MakeMyTrip's Q3 profit plummeted by 73.1% to $7.3 million, or $0.07 per share, primarily due to soaring net finance costs that surged to $27.7 million from $4.8 million last year, indicating substantial financial pressure on the company.
- Adjusted Net Profit Improvement: Despite the overall profit decline, adjusted net profit rose to $50.7 million, or $0.52 per share, up $4.7 million from $46.0 million, or $0.39 per share, last year, showcasing enhanced profitability in specific areas of the business.
- Revenue Growth: Q3 revenue increased by 10.6% to $295.7 million, driven by strong travel demand in India for both domestic and international outbound travel, indicating potential market recovery and the company's competitive position in the travel sector.
- Stock Price Volatility: Following the earnings announcement, MakeMyTrip's stock fell 5.65% to $62.60, but slightly rebounded to $62.66 in pre-market trading, reflecting market caution regarding the company's future performance.
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Citi Cuts MakeMyTrip Price Target to $96 Amid Revenue Miss
- Price Target Adjustment: Citi has cut MakeMyTrip's price target from $108 to $96 while maintaining a 'Buy' rating, indicating confidence in the company's future growth despite a cautious outlook on current performance.
- Revenue Miss: MakeMyTrip reported quarterly revenue of $295.7 million, falling short of analyst expectations of $310 million, suggesting weak market demand that could impact future investor confidence.
- Earnings Improvement: Despite the revenue miss, the company reported earnings per share of $0.07, exceeding the expected $0.01, indicating some success in cost control that may lay the groundwork for future profit growth.
- Market Reaction: MakeMyTrip's shares fell over 12% on Wednesday in response to the price target cuts, with a cumulative decline of over 34% in the past year, reflecting investor concerns about its long-term prospects.
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