TBO Tek Limited registers a YoY revenue growth of 21%, with revenue at INR 418 Cr
New Delhi, August 21st, 2024: TBO Tek Limited (BSE: 544174) (NSE: TBOTEK), a global travel distribution platform, announced its unaudited financial results for Q1 FY2025 today. The company remains among the top distribution platforms in the global travel and tourism industry, measured by Gross Transaction Value (GTV) and Revenue.
Consolidated Financial Performance for Q1FY25 v/s Q1FY24
- GTV grew by 14% YoY to reach INR 7,940 Cr
- Revenue from operations was INR 418 Cr, reflecting a YoY growth of 21%
- Adjusted EBITDA increased to INR 85 Cr, growing by 23% YoY
- PAT grew to INR 61 Cr, registering a 29% YoY increase
TBO Tek is a leading global travel distribution platform that connects travel buyers and suppliers worldwide with innovative, data-driven technology. Over the past 18 years, TBO has evolved from a ticketing company into a comprehensive, tech-enabled platform, operating in over 100 countries.
The key highlight for this quarter was the increasing share of higher-margin non-air business. TBO Tek Ltd. continued to grow its hotel business at a faster pace compared to the air business. The share of non-airline business grew from 46% in Q1 FY24 to 57% in Q1 FY25. This growth was primarily driven by an increasing share of Hotels’ GTV for both the international and Indian businesses.
Management Commentary
Mr. Ankush Nijhawan, Co-Founder and Joint MD, TBO Tek Limited, stated, “India’s outbound travel market is rapidly emerging as a global tourism powerhouse, fueling significant growth in the aviation sector. The digital transformation, enhanced air connectivity, and visa liberalization are revolutionizing travel, making it more accessible and convenient than ever. The travel landscape is being redefined by the rise of niche segments like study abroad programs, luxury travel, and cruise vacations—driving a surge in bookings from India. This momentum, especially from tier 2 and tier 3 cities, underscores the powerful potential of outbound travel. This quarter we delivered strong adjusted EBITDA of INR 85 Crores i.e. YoY 23% growth.”
Mr. Gaurav Bhatnagar, Co-Founder and Joint MD, TBO Tek Limited said, “We achieved a robust 24% growth in active agents across our international source markets. Our recent acquisition of Jumboline has started contributing meaningfully to both our top line and bottom line. We also invested in improving the self-serve features on the India platform for international air ticketing, which resulted in a 9% increase in transactions which required no manual intervention. Furthermore, we are very optimistic about the newly launched cloud-native platform, which aims to deliver operational efficiencies for our API customers by reducing latency significantly, thereby enhancing the user experience on the platform. We aim to innovate our platform with AI capabilities to improve our customer experience while reducing operational costs.”