MakeMyTrip (MMYT) Net Margin (2009 - 2026)
MakeMyTrip's (MMYT) quarterly Net Margin came in at 9.69% in Q1 2026, down 279.0% year-on-year from 5.42% in Q1 2025, and up 295.56% quarter-over-quarter from 2.45% in Q4 2025.
MakeMyTrip (MMYT) Net Margin (2009 - 2026) Analysis & Trends
MakeMyTrip's Net Margin history runs 18 years deep, the most recent figure standing at 9.69% for Q1 2026.
- On a quarterly basis, Net Margin fell 279.0% year-over-year to 9.69% in Q1 2026; TTM through Mar 2026 was 1.84%, a 803.0% decrease from a year earlier, with the FY2026 full-year figure at 4.96%, down 478.0% from the prior year.
- Net Margin rose to 9.69% in Q1 2026 per MMYT's latest filing, from 2.45% in the prior quarter.
- Across five years, Net Margin topped out at 84.78% in Q1 2024 and bottomed at 24.49% in Q2 2022.
- The 5-year median for Net Margin is 8.27% (2024), against an average of 5.17%.
- Across the five-year window, Net Margin soared 7903 bps in 2024 and sank 7229 bps in 2025, its largest moves.
- Year by year, Net Margin stood at 4.6% in 2022, then jumped by 348 bps to 11.4% in 2023, then retreated by 11 bps to 10.11% in 2024, then slumped by 76 bps to 2.45% in 2025, then jumped by 296 bps to 9.69% in 2026.
- Per Business Quant, the three latest MMYT Net Margin figures stand at 9.69% (Q1 2026), 2.45% (Q4 2025), and 16.67% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Booking Holdings | 136.54 Bn | 120.51 Bn | 3.46 Bn | 19.58% |
| 2 | Royal Caribbean Cruises | 86.11 Bn | 85.59 Bn | 2.21 Bn | 21.34% |
| 3 | Airbnb | 82.27 Bn | 70.26 Bn | 2.10 Bn | 5.97% |
| 4 | Yatra Online | 55.46 Bn | 55.47 Bn | 10.44 Mn | -9.25% |
| 5 | Viking Holdings | 44.18 Bn | 40.37 Bn | 713.43 Mn | 17.99% |
| 6 | Carnival | 34.61 Bn | 32.38 Bn | - | 8.07% |
| 7 | Expedia | 31.38 Bn | 28.88 Bn | 3.05 Bn | -0.35% |
| 8 | Norwegian Cruise Line Holdings | 8.54 Bn | 8.35 Bn | 953.34 Mn | 4.49% |
| 9 | MakeMyTrip | 5.02 Bn | 4.60 Bn | 199.14 Mn | 9.69% |
| 10 | Global Business Travel | 4.83 Bn | 4.43 Bn | 490.00 Mn | 6.19% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 9.69% |
| Dec 31, 2025 | 2.45% |
| Sep 30, 2025 | -16.67% |
| Jun 30, 2025 | 9.64% |
| Mar 31, 2025 | 12.49% |
| Dec 31, 2024 | 10.11% |
| Sep 30, 2024 | 8.46% |
| Jun 30, 2024 | 8.27% |
| Mar 31, 2024 | 84.78% |
| Dec 31, 2023 | 11.40% |
| Sep 30, 2023 | -3.90% |
| Jun 30, 2023 | 9.66% |
| Mar 31, 2023 | 5.75% |
| Dec 31, 2022 | -4.60% |
| Sep 30, 2022 | -18.99% |
| Jun 30, 2022 | -24.49% |
| Mar 31, 2022 | -16.16% |
| Dec 31, 2021 | -8.98% |
| Sep 30, 2021 | -11.85% |
| Jun 30, 2021 | -73.94% |