TBO Tek Announces 64% Jump in Q4 Profit After Tax to Rs 46 Crore

Travel distribution giant TBO Tek Ltd has reported a significant increase in its profit after tax (PAT) for the quarter ending March 2024, marking a 64% rise to Rs 46 crore from Rs 28 crore in the same quarter of the previous year. The company's revenue also saw a substantial boost, with a 31% jump to Rs 369 crore compared to the year-ago period. This financial growth underscores TBO Tek's robust performance and strategic expansions over the fiscal year.

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For the financial year 2023-24, TBO Tek's PAT surged by 31% to Rs 201 crore from the previous year, while its revenue climbed by 35% to Rs 1,393 crore. Gaurav Bhatnagar, Co-founder and Joint MD of TBO Tek Limited, highlighted this period as a landmark year, following a successful Initial Public Offering (IPO). The company's adjusted EBITDA reached Rs 270 crore, with the gross transaction value escalating to Rs 26,536 crore, indicating a 19% growth year-over-year.

The acquisition of Jumbonline has been pointed out as a significant contributor to TBO's bottom line in the fourth quarter. Bhatnagar emphasized the company's strategy focusing on both organic and inorganic growth avenues to expand EBITDA margins through operating leverage. Looking ahead, TBO plans to further invest in global market development, supply enhancement, and platform innovation while exploring strategic acquisition opportunities.

Ankush Nijhawan, Co-founder and Joint MD of TBO Tek Limited, reflected on the company's growth trajectory alongside the booming travel industry. He mentioned the Indian government's UDAN scheme and investments in airport infrastructure as key drivers for the sector. With an estimated USD 1.83 billion earmarked for airport infrastructure by 2026 and outbound air traffic expected to hit 42 million passengers by 2027, TBO is poised for continued success.

Nijhawan also highlighted the expected growth in the outbound travel market, which is projected to expand at a CAGR of 11.1% during 2023-2027, reaching USD 19.6 billion. TBO's commitment to delivering innovative solutions and forging strategic partnerships aims to capitalize on these industry trends for sustainable growth and long-term stakeholder value.

This financial and operational milestone demonstrates TBO Tek Ltd's ability to navigate the dynamic travel industry landscape successfully. With strategic initiatives and a focus on customer-centric innovations, TBO is well-positioned to maintain its growth momentum in the coming years.