Q2 2025 MakeMyTrip Ltd Earnings Call Transcript
Key Points
- MakeMyTrip Ltd (MMYT) reported strong year-on-year growth with gross booking value reaching $2.3 billion, a 24.3% increase in constant currency terms.
- The company achieved a 33% year-on-year growth in adjusted operating profit, amounting to $37.5 million.
- International air ticketing and hotel businesses showed significant growth, with international air ticketing revenue increasing by over 39% and international hotel business revenue growing by 62% year-on-year in constant currency terms.
- MakeMyTrip Ltd (MMYT) has successfully integrated AI-driven solutions, such as the GenAI chatbot Myra, to enhance customer service and operational efficiency, resulting in a 45% decrease in customer service agent involvement.
- The company maintains a strong cash position, with cash and cash equivalents exceeding $700 million, allowing for potential organic and inorganic growth opportunities.
- The company faced short-term headwinds due to unusual heavy rainfall, impacting demand momentum in the leisure travel segment.
- Despite strong growth, the domestic air ticketing market only saw a marginal growth of about 6% year-on-year, indicating potential challenges in this segment.
- There is a noted consumption slowdown in certain areas, which could impact future growth, although early signs in the current quarter do not indicate a significant slowdown.
- The impact of geopolitical tensions and macroeconomic factors, such as potential war situations, could affect travel demand to specific regions.
- Pricing normalization in the hotel segment, particularly for international hotels, could pose a challenge to maintaining high growth rates in the near term.
Hello, everyone. I'm Vipul Garg, Vice President of Investor Relations at MakeMyTrip Limited, and welcome to our fiscal 2025 second-quarter earnings webinar. Today's event will be hosted by company's leadership team comprising Rajesh Magow, our Co-Founder and Group Chief Executive Officer; and Mohit Kabra, our Group Chief Financial Officer.
As a reminder, this live event is being recorded by the company and will be made available for replay on our IR website shortly after the conclusion of today's event. And at the end of these prepared remarks, we will also be hosting a Q&A session.
Furthermore, certain statements made during today's event may be considered forward-looking statements within the meaning of safe harbor provision of the US Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance, are subject to inherent uncertainties, and actual results may differ materially.
Any forward-looking information relayed during this event speaks only as of this date, and the company undertakes
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