NASDAQ$MMYT
Makemytrip · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
MakeMyTrip grew fiscal Q2 revenue 12.6% in constant currency to $229.3M but posted a $5.7M GAAP loss on convertible-note interest and FX.
MakeMyTrip reported fiscal second-quarter 2026 revenue of $229.3 million, up 8.7% year over year and 12.6% in constant currency, as gross bookings rose 13.1% to $2.45 billion. GAAP net loss was $5.7 million ($0.06 diluted loss per share) versus $17.9 million profit a year ago, primarily due to $35.9 million net finance costs including $24.3 million interest on 2030 convertible notes and $11.2 million FX losses. Adjusted operating profit improved 17.9% to $44.2 million and adjusted net profit was $36.4 million ($0.37 adjusted diluted EPS); hotels, bus, and international travel led segment growth.
- Revenue reached $229.3M (+12.6% constant currency); gross bookings grew 13.1% to $2.45B.
- GAAP net loss was $5.7M on $35.9M net finance costs tied to 2030 Notes accretion and rupee depreciation.
- Adjusted operating profit rose to $44.2M; adjusted net profit was $36.4M ($0.37 adjusted diluted EPS).
- Hotels & packages revenue grew 8.8% CC; bus ticketing surged 39.6% CC on 39.2% ticket volume growth.
- Cash and term deposits totaled $835.4M; share and convertible repurchase authorization increased to $200M through 2030.
Headline financials
Revenue & EPS history
Makemytrip · Revenue · Quarterly
$229M
Revenue by segment
Makemytrip · $229M total across 4 segments · Q2 2026
- Hotels and Packages$108M—47.2%
- Air Ticketing$61M—26.6%
- Bus Ticketing$33.5M—14.6%
- Others$26.6M—11.6%
Forward guidance
Management expects Indian tax and GST benefits to support discretionary spending and travel demand in the second half of fiscal 2026, with leisure sentiment improving after a muted Q1.
Tailwinds
- International travel and non-flight domestic segments showed robust growth
- Adjusted operating profit up $6.7M year over year to $44.2M
Headwinds
- Domestic air recovery remained slow due to short-term supply constraints
- Convertible note accounting drove elevated non-cash interest expense
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2026
-0.8%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+2.9%
Avg return
30 days after
49%
23 / 47 earnings
Positive
+23.8%
Q3 2020
Best reaction
-26.8%
Q3 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2027 | -3.8% | — | — | |
| Q2 2026 | -10.1% | -11.1% | -21.9% | |
| Q1 2026 | +2.8% | +5.2% | +3.2% | |
| Q4 2025 | -1.3% | -1.7% | -7.4% | |
| Q3 2025 | +6.1% | +3.7% | -5.1% | |
| Q2 2025 | +1.0% | -0.7% | +5.6% | |
| Q1 2025 | +1.4% | +2.9% | +9.1% | |
| Q4 2024 | +10.0% | +16.5% | -0.8% | |
| Q3 2024 | -4.3% | -1.0% | +17.0% | |
| Q2 2024 | +0.8% | +5.2% | +12.0% | |
| Q1 2024 | +14.4% | +17.2% | +37.9% | |
| Q4 2023 | -1.0% | -2.0% | +3.3% | |
| Q3 2023 | -1.1% | -4.7% | -10.7% | |
| Q2 2023 | -2.2% | -0.4% | +7.0% | |
| Q1 2023 | +13.0% | +8.2% | +20.1% | |
| Q4 2022 | +13.5% | +16.1% | +7.3% | |
| Q3 2022 | -9.8% | -2.2% | +0.2% | |
| Q2 2022 | +17.9% | +14.7% | +5.0% | |
| Q1 2022 | +0.3% | -0.6% | -10.7% | |
| Q4 2021 | +5.1% | +6.3% | +26.8% | |
| Q3 2021 | -3.2% | +4.7% | +13.8% | |
| Q2 2021 | -9.7% | -6.5% | +28.6% | |
| Q1 2021 | +3.5% | +12.7% | +22.8% | |
| Q4 2020 | -11.4% | -11.6% | -6.1% | |
| Q3 2020 | +23.8% | +17.2% | -37.4% | |
| Q2 2020 | +18.0% | +13.8% | +5.8% | |
| Q1 2020 | -8.6% | -12.7% | -18.8% | |
| Q4 2019 | -0.2% | +3.8% | +8.6% | |
| Q3 2019 | +14.0% | +3.1% | +14.6% | |
| Q2 2019 | +3.7% | +1.2% | -1.1% | |
| Q1 2019 | -4.5% | -9.2% | -14.4% | |
| Q4 2018 | +0.3% | +2.9% | +3.6% | |
| Q3 2018 | -6.1% | -6.9% | +8.2% | |
| Q2 2018 | +0.1% | +0.2% | +4.9% | |
| Q1 2018 | -16.3% | -9.7% | -2.2% | |
| Q4 2017 | -6.0% | -14.6% | -19.0% | |
| Q3 2017 | +11.8% | +5.5% | -2.0% | |
| Q2 2017 | +0.7% | +0.0% | -15.5% | |
| Q1 2017 | +3.1% | +11.9% | +16.2% | |
| Q4 2016 | -4.9% | — | — | |
| Q3 2016 | +0.8% | — | — | |
| Q2 2015 | -5.3% | — | — | |
| Q1 2015 | -24.5% | — | — | |
| Q4 2015 | -22.8% | — | — | |
| Q3 2014 | -7.6% | — | — | |
| Q1 2011 | -10.4% | — | — | |
| Q3 2010 | -26.8% | — | — | |
| Q4 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro