• In May 2026, MakeMyTrip Limited reported fourth-quarter 2026 results showing revenue of US$250.12 million and net income of US$24.25 million, alongside completion of a long-running buyback that retired 2,658,742 shares for US$127.56 million.
• An interesting detail for investors is that full-year revenue rose to US$1.04 billion while net income fell to US$51.8 million, pointing to pressure on profitability despite higher sales.
• We will now examine how weaker earnings driven partly by international travel headwinds may influence MakeMyTrip’s existing investment narrative and outlook.

AI is about to change healthcare. These 34 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

MakeMyTrip Investment Narrative Recap

To own MakeMyTrip, you need to believe that online travel in India can keep expanding and that the company can convert this growth into durable profits. The latest results complicate that story in the near term: full year revenue climbed to US$1.04 billion but net income halved to US$51.8 million, suggesting profitability is under pressure. International travel headwinds now look like the key short term swing factor, while rising competition and marketing spend remain central risks.

The recently completed buyback, which retired 2,658,742 shares for US$127.56 million, is the most directly relevant announcement here. It modestly boosts per share metrics at a time when diluted earnings per share have come under strain, and it adds another layer for investors to weigh when thinking about how quickly margins might recover as MakeMyTrip works through weaker earnings and softer international demand.

Yet beneath the headline revenue growth, investors should also be aware of the risk that rising promotional and marketing costs might...

MakeMyTrip's narrative projects $1.8 billion revenue and $175.3 million earnings by 2029. This requires 19.2% yearly revenue growth and a $118.5 million earnings increase from $56.8 million today.

Uncover how MakeMyTrip's forecasts yield a $88.10 fair value, a 106% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were previously assuming revenue could reach about US$2.0 billion and earnings roughly US$218 million, which is far more upbeat than the baseline view, yet the latest profit squeeze and reliance on AI driven efficiency gains suggest those expectations, and your own, may need revisiting as new information comes in.

Explore 4 other fair value estimates on MakeMyTrip - why the stock might be a potential multi-bagger!

Decide For Yourself

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your MakeMyTrip research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.
• Our free MakeMyTrip research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate MakeMyTrip's overall financial health at a glance.

Ready To Venture Into Other Investment Styles?

Right now could be the best entry point. These picks are fresh from our daily scans. Don't delay:

• Invest in the nuclear renaissance through our list of 88 elite nuclear energy infrastructure plays powering the global AI revolution.
• Uncover the next big thing with 25 elite penny stocks that balance risk and reward.
• Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 27 best rare earth metal stocks of the very few that mine this essential strategic resource.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.