MakeMyTrip posts Q3 profit at $0.2 million

Travel service provider MakeMyTrip Ltd on Tuesday reported a profit of $0.2 million in the third quarter ended December 2022.

The NASDAQ-listed firm had posted a loss of $9 million in the year-ago period, it said in a statement.

In the third quarter gross bookings grew by 64.4 per cent in constant currency year-on-year to $1.74 billion, the highest ever in the company's history, it added.

"Positive consumer sentiment and peak seasonality on the back of festivals and holidays led to improved travel demand during this quarter. As a result, we recorded our highest-ever quarterly gross bookings and adjusted operating profit," MakeMyTrip Group CEO Rajesh Magow said.