MakeMyTrip’s Q4 profit jumps multifold to $172 mn on tax credit gains

Nasdaq-listed MakeMyTrip Ltd on Wednesday reported a multi-fold jump in profit at $171.9 million in the March 2024 quarter, aided by gains on tax credit and convertible notes value.

The company had posted a profit of $5.4 million in the same quarter previous fiscal, MakeMyTrip said in a statement.

Profit for the fourth quarter included a one-time credit of $126.1 million on recognition of deferred tax assets and a one-time gain of $30.6 million due to the change in carrying value of the company’s convertible notes due 2028 measured at amortised cost, it added.