MakeMyTrip (MMYT) Gross Margin (2009 - 2026)
MakeMyTrip's (MMYT) quarterly Gross Margin came in at 79.62% in Q1 2026, up 190.0% year-on-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.
- On a quarterly basis, Gross Margin rose 190.0% year-over-year to 79.62% in Q1 2026; TTM through Mar 2026 was 76.93%, a 213.0% increase from a year earlier, with the FY2026 full-year figure at 76.93%, up 7653.0% from the prior year.
- Gross Margin climbed to 79.62% in Q1 2026 per MMYT's latest filing, from 73.67% in the prior quarter.
- Across five years, Gross Margin topped out at 82.09% in Q1 2022 and bottomed at 66.86% in Q4 2022.
- The 5-year median for Gross Margin is 75.01% (2025), against an average of 74.8%.
- Across the five-year window, Gross Margin tumbled 2279 bps in 2022 and soared 591 bps in 2025, its largest moves.
- Year by year, Gross Margin stood at 66.86% in 2022, then gained by 6 bps to 70.89% in 2023, then climbed by 5 bps to 74.08% in 2024, then fell by 1 bps to 73.67% in 2025, then grew by 8 bps to 79.62% in 2026.
- Per Business Quant, the three latest MMYT Gross Margin figures stand at 79.62% (Q1 2026), 73.67% (Q4 2025), and 80.45% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 62.62% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 49.53% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 78.30% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | 55.39% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 41.37% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | - |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | 89.00% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 40.89% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 79.62% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 58.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 94.01% |