MakeMyTrip Limited (NASDAQ:MMYT) Q2 2025 Earnings Conference Call October 23, 2024 7:30 AM ET

Company Participants

Rajesh Magow - Co-Founder & Group Chief Executive Officer
Mohit Kabra - Group Chief Financial Officer
Vipul Garg - Vice President, Investor Relations

Conference Call Participants

Sachin Salgaonkar - Bank of America
Manish Adukia - Goldman Sachs
Gaurav Rateria - Morgan Stanley
Aditya Suresh - Macquarie
Vijit Jain - Citi
Ankur Rudra - JPMorgan
Manik Taneja - Axis Capital

Vipul Garg

Hello everyone. I am Vipul Garg, Vice President, Investor Relations at MakeMyTrip Limited. Welcome to our Fiscal 2025 Second Quarter Earnings webinar.

Today's event will be hosted by company's leadership team comprising Rajesh Magow, our Co-Founder and Group Chief Executive Officer; and Mohit Kabra, our Group Chief Financial Officer. As a reminder, this live event is being recorded by the company and will be made available for replay on our IR website shortly after the conclusion of today's event. And at the end of these prepared remarks, we will also be hosting a Q&A session.

Furthermore, certain statements made during today's event may be considered forward-looking statements within the meaning of Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance, are subject to inherent uncertainties, and actual results may differ materially.

Any forward-looking information relayed during this event speaks only as of this date and the company undertakes no obligation to update the information to reflect changed circumstances. Additional information concerning these statements is contained in the Risk Factors and forward-looking statements section of the company's annual report on Form 20-F filed with the SEC on July 2, 2024. Copies of these filings are available from the SEC or from the company's Investor Relations Department.

I would like to now turn the call over to Rajesh. Over to you, Rajesh.

Rajesh Magow

Thank you, Vipul. Welcome, everyone, to our second quarter call for Fiscal 2025. We are pleased to report another quarter of strong business results with robust growth in the top line and bottom line. Gross booking value for the quarter stood at $2.3 billion, registering strong year-on-year growth of 24.3% in constant currency terms.

Adjusted operating profit at $37.5 million, registered a year-on-year growth of about 33%. We managed to deliver this strong performance across all our business segments, leveraging our brand and distribution strength, and despite the short-term headwinds due to unusual heavy rainfall that impacted demand momentum a bit in an otherwise traditionally low-season quarter for leisure travel.