On Wednesday, MakeMyTrip Ltd had reported an 8.1 per cent rise in its net operating profit to USD 12 million in the last quarter of the financial year 2022. In the previous financial year, the net operating profit of USD 1.1 million.

According to the company’s statements, the gross booking of USD exceeded USD 1 billion and grew by 37 per cent on YOY in the inflationary pressure of the financial year 2022. The company has registered an adjusted operating loss of USD 18 million in 2021. Comparatively, the gross booking in the current financial year increased by 95.9 per cent to USD 3.2 billion, also added.

• Foreign Inflows Fail to Lift Rupee as RBI Builds Dollar Buffer
• Airbound Raises $37 Million to Scale Autonomous Delivery Network
• Trump Eyes 7.5% Overcapacity Tariff on China Ahead of Xi Visit
• Afcons Infrastructure Shares Jump After Rs 335.5 Crore Arbitration Award
• Aegis Logistics Transfers Ammonia Terminal to Arm for Rs 525 Crore

Commenting on the performance, MakeMyTrip Group Chief Executive Officer Rajesh Magow said, “Our long-term cost rationalization helped us post full-year adjusted operating profit of USD 23.2 million and Q4 adjusted operating profit of USD 12 million in a year where business was impacted particularly due to both the Delta and Omicron variants.”

Stating that consumer sentiment remains strong, especially for leisure travel, he said, “We hope to observe demand momentum for domestic travel by the first half of the fiscal year 2023 and international travel by the second half of the fiscal year 2023.