In a surprising turn for India’s leading online travel aggregator, MakeMyTrip Ltd. has reported a net loss of $5.7 million (approximately ₹48 crore) for the second quarter of FY2025, slipping into the red after several quarters of steady profitability. The loss marks a notable reversal from the $12.2 million profit the company posted during the same period last year.
The company attributed the downturn primarily to slower growth in domestic travel bookings, higher operational and marketing costs, and currency fluctuations, which weighed on margins despite healthy gross bookings growth.
Revenue Up, But Margins Under Pressure
MakeMyTrip’s gross bookings—a key metric indicating the total v
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