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MakeMyTrip Limited (MMYT)
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MakeMyTrip Limited Income Statement 2025-2011 | MMYT
Brief overview of financial results at MakeMyTrip Limited
The overview follows changes across a five-year period. MakeMyTrip Limited reported revenue of $56.8 million in 2020 and $978 million by 2025. Overall revenue changed by +1622.2%, equal to an annualized rate of about 76.7%. The annual growth rate indicates an exceptionally strong top-line trend.
Gross profit was 357 million dollars at the start and 704 million dollars at the end of the period (+97.1%). Revenue outpaced cost of revenue, allowing more sales to flow into gross profit. Gross margin moved from 628.8% to 72%. A lower margin indicates deterioration in the economics of the core business.
Over the period, EBITDA shifted from −429 million dollars to 120 million dollars, a change of +127.9%. The operating result developed less favorably than sales. Comparing the endpoints gives EBITDA margins of −755.9% and 12.3%. The company improved its ability to convert sales into EBITDA.
Across the five years, the net result shifted from −448 million dollars to 95.3 million dollars. The return to profit marks a meaningful recovery in the final result.
Market capitalization changed from $3 billion to $11.2 billion (+274.5%). Investor expectations increased faster than reported performance.
What the figures show
The five-year picture requires weighing both strengths and weaknesses. The positive side is supported by sales growth, improving net profitability and higher operating efficiency. The main areas of concern are weaker gross profitability. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement MakeMyTrip Limited
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
11.2 B | 9.55 B | 4 B | 3.95 B | 2.85 B | 3 B | 2.39 B | 2.67 B | 2.02 B | 766 M | 886 M | 802 M | 479 M | 712 M | 893 M |
Shares |
113 M | 111 M | 110 M | 108 M | 107 M | 105 M | 104 M | 100 M | 52.6 M | 41.7 M | 41.8 M | 37.8 M | 37.3 M | 36.7 M | 28.3 M |
Historical Prices |
99.8 | 86 | 36.4 | 36.4 | 26.7 | 28.5 | 23 | 26.6 | 30.6 | 33.4 | 18.6 | 24.9 | 27.8 | 15.3 | 23.5 |
Net Income |
95.3 M | 217 M | -11.2 M | -45.6 M | -56 M | -448 M | -168 M | -218 M | -110 M | -88.5 M | -18.3 M | -20.9 M | -27.6 M | 7.18 M | 4.83 M |
Revenue |
978 M | 783 M | 593 M | 304 M | 163 M | 56.8 M | 147 M | 125 M | 448 M | 336 M | 300 M | 255 M | 229 M | 197 M | 125 M |
Cost of Revenue |
274 M | 215 M | 178 M | 58.8 M | 22.2 M | 149 M | 171 M | 176 M | 174 M | 167 M | - | - | - | - | - |
Gross Profit |
704 M | 567 M | 415 M | 245 M | 141 M | 357 M | 313 M | 499 M | 274 M | 169 M | 139 M | 106 M | 88.2 M | 88.2 M | 61.1 M |
Operating Income |
120 M | 65.2 M | 23.6 M | -30.4 M | -67.7 M | -429 M | -153 M | -219 M | -135 M | -66.8 M | - | - | - | - | - |
EBITDA |
120 M | 65.2 M | 23.6 M | -30.4 M | -67.7 M | -429 M | -153 M | -219 M | -106 M | -55.5 M | -6.48 M | -10.9 M | -14.2 M | 6.87 M | 6.06 M |
Operating Expenses |
584 M | 502 M | 392 M | 276 M | 209 M | 515 M | 466 M | 716 M | 394 M | 233 M | 153 M | 123 M | 106 M | 84.1 M | 56.9 M |
General and Administrative Expenses |
- | - | - | - | - | 150 M | 137 M | 138 M | 96.9 M | 62.3 M | 56.6 M | 48.3 M | 46.4 M | 64.3 M | 41.7 M |
Annual performance
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All numbers in USD currency
Quarterly Income Statement MakeMyTrip Limited
| 2025-Q4 | 2025-Q1 | 2024-Q4 | 2024-Q1 | 2023-Q4 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
- | 113 M | - | 111 M | - | 110 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
- | 95.3 M | - | 217 M | - | -11.2 M | -4.06 M | - | - | -4.06 M | -9.04 M | -8.02 M | -24.5 M | 3.2 M | -3.5 M | -21.2 M | -34.6 M | -339 M | -29.5 M | -36.8 M | -42.6 M | -40.4 M | -29.3 M | -47 M | -51.2 M | -44.1 M | -45.3 M | -62.3 M | -68.5 M | -73.1 M | 16.6 M | -39.4 M | -14.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Revenue |
- | 978 M | - | 783 M | - | 593 M | 88.6 M | - | - | 88.6 M | 115 M | 67.5 M | 32.8 M | 79.2 M | 56.8 M | 21.1 M | 6.36 M | 105 M | 147 M | 118 M | 142 M | 120 M | 125 M | 104 M | 137 M | 158 M | 172 M | 153 M | 192 M | 120 M | 123 M | 83.1 M | 121 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
- | 274 M | - | 215 M | - | 178 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
- | 120 M | - | 65.2 M | - | 23.6 M | 3.35 M | - | - | 3.35 M | -6.21 M | -7.99 M | -19.5 M | 317 K | -7.34 M | -26.1 M | -34.6 M | -330 M | -24.4 M | -31.9 M | -42.9 M | -31 M | -36.6 M | -39.8 M | -45.5 M | -41.7 M | -48.2 M | -61.6 M | -68 M | -75.3 M | -3.14 M | -29.1 M | -27.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
- | 120 M | - | 65.2 M | - | 23.6 M | 3.35 M | - | - | 3.35 M | -6.21 M | -7.99 M | -19.5 M | 317 K | -7.34 M | -26.1 M | -34.6 M | -330 M | -24.4 M | -31.9 M | -42.9 M | -31 M | -36.6 M | -39.8 M | -45.5 M | -41.7 M | -48.2 M | -61.6 M | -68 M | -75.3 M | -3.14 M | -29.1 M | -27.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses |
- | - | - | - | - | - | -3.35 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company MakeMyTrip Limited (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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