MakeMyTrip Q2 2027: Why the Revenue Miss Was Mostly a Currency Story
As seen on the 24/7 Wall St. homepage on October 26, 2026.
Currency translation, not demand, is what dented the headline: revenue missed consensus by 12.6% on a reported basis even as the rupee slid 10%. EPS essentially met estimates, and net income swung positive from a year-ago loss.
Continue ReadingShow less
The fiscal Q2 2027 revenue shortfall against consensus is largely a translation effect: the Indian rupee depreciated roughly 10% against the dollar over the period, dragging on every dollar of revenue the company brought in.
Strip out currency effects and the underlying travel business kept growing, with constant-currency revenue up 11.2% year over year.
Bus ticketing revenue grew 16.6% on a reported basis, while air ticketing fell 7.2%, weighed down by subdued international long-haul travel as elevated fuel costs and the weaker rupee made overseas trips more expensive for Indian customers.
Sponsored
Twelve Tabs, One Thesis
Your Research Resets Every Morning
The quote page in one tab. Filings in another. A chart you rebuilt from scratch, a transcript you never went back and found, a screener whose settings you will redo next week. Nothing you built yesterday is still there.
AlphaSpace replaces all of it with one screen you arrange yourself. Earnings calendar, estimate versus actual, the call transcript, live news, your own charts, every panel wired to whatever ticker you click. Close the browser and it is all still sitting there tomorrow.
See What a Built View Looks Like →
(Sponsor)
Profitability is moving in the right direction even with the revenue shortfall: IFRS net income swung to $1.77 million from a loss a year ago, and adjusted diluted EPS came in essentially in line with estimates.
Management is still buying back stock under a $200 million program running through March 2030, while customer inducement costs rose as the company keeps investing in volume growth across its MakeMyTrip, Goibibo, redBus, and Savaari brands.
Mentioned: MMYT