MakeMyTrip (MMYT) Gross Margin (2009 - 2026)
MakeMyTrip (MMYT) posted quarterly Gross Margin of 79.62% for Q1 2026, up 190.0% year-over-year from 27.45% in Q1 2025, and up 8.08% quarter-over-quarter from 73.67% in Q4 2025.
MakeMyTrip (MMYT) Gross Margin (2009 - 2026) Analysis & Trends
MakeMyTrip's Gross Margin history runs 18 years deep, the most recent figure standing at 79.62% for Q1 2026.
- In Q1 2026, Gross Margin rose 190.0% year-over-year to 79.62%; the TTM figure through Mar 2026 stood at 76.93% (up 213.0% YoY), while the FY2026 annual figure was 76.93%, up 213.0% from the prior year.
- Gross Margin for Q1 2026 stood at 79.62%, up from 73.67% in the prior quarter.
- The five-year high for Gross Margin was 82.09% in Q1 2022, with the low at 66.86% in Q4 2022.
- The 5-year median for Gross Margin is 75.01% (2025), against an average of 74.8%.
- The sharpest annual moves came in 2022 and 2025: Gross Margin slumped 2279 bps in 2022, then soared 591 bps in 2025.
- MakeMyTrip's Gross Margin stood at 66.86% in 2022, then rose by 6 bps to 70.89% in 2023, then advanced by 5 bps to 74.08% in 2024, then declined by 1 bps to 73.67% in 2025, then climbed by 8 bps to 79.62% in 2026.
- Business Quant data shows MMYT's Gross Margin at 79.62% in Q1 2026, 73.67% in Q4 2025, and 80.45% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 157.57 Bn | 140.36 Bn | 4.98 Bn | 67.75% |
| 2 | Airbnb | 106.28 Bn | 94.21 Bn | 2.98 Bn | 82.46% |
| 3 | Royal Caribbean Cruises | 80.63 Bn | 79.71 Bn | 2.29 Bn | 47.29% |
| 4 | Viking Holdings | 44.40 Bn | 40.59 Bn | 713.43 Mn | 41.37% |
| 5 | Expedia | 38.38 Bn | 31.25 Bn | 3.91 Bn | 90.66% |
| 6 | Carnival | 38.16 Bn | 35.92 Bn | - | - |
| 7 | Trip.com | 29.11 Bn | 17.42 Bn | 1.86 Bn | 79.12% |
| 8 | Norwegian Cruise Line Holdings | 8.33 Bn | 8.12 Bn | 1.05 Bn | 39.91% |
| 9 | MakeMyTrip | 5.81 Bn | 5.03 Bn | 212.91 Mn | 74.55% |
| 10 | Global Business Travel | 4.86 Bn | 4.34 Bn | 514.00 Mn | 59.08% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 74.55% |
| Mar 31, 2026 | 79.62% |
| Dec 31, 2025 | 73.67% |
| Sep 30, 2025 | 80.45% |
| Jun 30, 2025 | 75.01% |
| Mar 31, 2025 | 77.72% |
| Dec 31, 2024 | 74.08% |
| Sep 30, 2024 | 79.19% |
| Jun 30, 2024 | 69.10% |
| Mar 31, 2024 | 76.28% |
| Dec 31, 2023 | 70.89% |
| Sep 30, 2023 | 76.13% |
| Jun 30, 2023 | 69.71% |
| Mar 31, 2023 | 72.63% |
| Dec 31, 2022 | 66.86% |
| Sep 30, 2022 | 77.03% |
| Jun 30, 2022 | 71.21% |
| Mar 31, 2022 | 82.09% |
| Dec 31, 2021 | 74.80% |
| Sep 30, 2021 | 88.23% |