Online travel aggregator (OTA) MakeMyTrip reported a net profit of $29.2 Mn in Q4 FY25, marking an 83% decline from $171.9 Mn in the year-ago quarter.

It is important to note that the Nasdaq-listed company’s profit for Q4 FY24 included a credit of $126.1 Mn on recognition of deferred tax assets and a one-time gain of $30.6 Mn due to the change in carrying value of the company’s convertible notes due 2028.

Minus the one-off gains, the company would have reported a profit of $15.2 Mn in the year-ago quarter. With respect to this number, MakeMyTrip’s (MMT) profit surged 92% year-on-year (YoY) in Q4 FY25. On a sequential basis, profit grew 8% from $27.1 Mn.

Revenue rose 21% YoY to $245.5 Mn. However, it dipped 8% on a quarter-on-quarter basis from .

“We delivered record gross bookings and revenue this fiscal year with robust growth and expanding margins underscoring the strength of our platform, the popularity of our brands, and the sustained momentum in both domestic and international travel demand,” MMT CEO Rajesh Magow said.

(The story will be updated soon.)

The post appeared first on .