MakeMyTrip's net profit plummeted by 83% to $29.2 million in the fourth quarter of fiscal year 2025, compared to $171.9 million in the same period last year. This significant drop is noteworthy considering that the Q4 FY24 profit included a substantial $126.1 million credit from the recognition of deferred tax assets, as well as a $30.6 million one-time gain resulting from a change in the carrying value of the company's convertible notes due in 2028.
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