MakeMyTrip Q1 Earnings Drop Despite Revenue Growth, Stock Climbs
MakeMyTrip Limited (MMYT) reported Q1 FY2027 results for the quarter ended June 30, 2026. Profit fell 64.7% to $9.1M from $25.8M, mainly due to higher finance costs ($35.01M vs $10.8M) and INR depreciation. Revenue rose 6.2% to $285.6M. Adjusted net profit after tax rose to $52.2M. Shares rose to $62.63 on Nasdaq.
How this was made
The 30-second read
Why it matters
Profit fell sharply due to higher finance costs and FX depreciation effects, while revenue grew and adjusted net profit and adjusted EBITDA increased.
Market read
Traders can reassess near-term earnings quality and margin risk for MMYT given the explicit drivers of profit compression and the day-of-share-price reaction.
What to watch
The article attributes results to finance costs and INR/USD depreciation, but does not quantify guidance or cash flow, leaving uncertainty about whether the headwinds persist.
Background
MakeMyTrip’s Q1 FY2027 results for the quarter ended June 30, 2026 include both GAAP profit decline and improved adjusted profitability metrics.
Ticker impact
MakeMyTrip reported Q1 FY2027 profit down 64.7% to $9.1M on higher finance costs, while revenue rose 6.2%.
Near-term volatility likely, with investors weighing revenue growth against profit compression from finance costs and INR/USD depreciation.
The article provides directionally bearish P&L (profit down sharply) plus specific drivers (finance costs up, FX depreciation impact) while noting adjusted net profit and EBITDA improved, which can temper the selloff.
Market effects
Highlights sensitivity of online travel demand and profitability to FX moves and regional geopolitical risk (West Asia).
Outbound travel from India to West Asia is cited as affected, which can influence regional travel demand expectations.
FX and financing-cost dynamics can affect cross-border travel operators’ reported earnings globally.
Counterpoint
The stock rally despite lower reported profit suggests investors may be focusing on adjusted net profit and adjusted EBITDA strength rather than GAAP profit compression.
Key entities
- companyMakeMyTrip Limited
Reported Q1 FY2027 revenue growth but a 64.7% decline in profit, citing higher finance costs and INR/USD depreciation impact.
