India, Aug. 3 -- As its India IPO plans take shape, travel tech major MakeMyTrip's (MMT) consolidated net profit for the three months ended June 30, 2026 (Q1 FY27) plunged 65% to $9.1 Mn from $25.8 Mn in the year-ago period.

The Nasdaq-listed company's revenue grew 6% YoY to $285.6 Mn. On a QoQ basis, the top line increased 6% from $268.9 Mn.

Including other income of $269K, total income for the quarter stood at $285.9 Mn.

The company attributed its performance to multiple macroeconomic headwinds. It said the depreciation of the Indian rupee against the US dollar by more than 10% YoY weighed on its reported revenue growth, while the ongoing West Asia conflict dampened international outbound travel demand from India. However, strong sea...