India, May 14 -- Online travel aggregator (OTA) MakeMyTrip reported a net profit of $29.2 Mn in Q4 FY25, marking an 83% decline from $171.9 Mn in the year-ago quarter.

It is important to note that the Nasdaq-listed company's profit for Q4 FY24 included a credit of $126.1 Mn on recognition of deferred tax assets and a one-time gain of $30.6 Mn due to the change in carrying value of the company's convertible notes due 2028.

Minus the one-off gains, the company would have reported a profit of $15.2 Mn in the year-ago quarter. With respect to this number, MakeMyTrip's (MMT) profit surged 92% year-on-year (YoY) in Q4 FY25. On a sequential basis, profit grew 8% from $27.1 Mn.

Revenue rose 21% YoY to $245.5 Mn. However, it dipped 8% on a quar...