Previous Year Comparison: The company had a profit of $5.4 million in the same quarter of the previous fiscal year.

One-Time Gains:

$126.1 million from the recognition of deferred tax assets.

$30.6 million from the change in the carrying value of the company's convertible notes due 2028, measured at amortized cost.

Gross Bookings Growth: Gross bookings for the quarter reached $2,039 million, up from $1,673.9 million in the year-ago period.

Annual Profit: For FY24, MakeMyTrip reported a profit of $216.7 million, a significant turnaround from a loss of $11.2 million in FY23.

Annual Gross Bookings: Gross bookings for FY24 were $7,954.4 million, compared to $6,566.2 million in FY23.

Strategic Success:

CEO Rajesh Magow highlighted the success of their strategy to serve millions of customers, including first-time travellers, with a comprehensive portfolio of travel and ancillary products offering personalized experiences.

This strategy contributed to strong growth despite the quarter typically being a slower period for leisure travel.

Travel Demand Surge: Magow noted a newfound enthusiasm among Indians for travel, with both leisure and business travel demand surpassing pre-pandemic levels.

Pandemic Recovery: The company has bounced back stronger from the COVID-19 pandemic, achieving its best-ever financial performance in FY24 in terms of both gross bookings and profit.