TBO Tek reports strong FY24 results with 31% more revenue than last year, ET TravelWorld

Leading global travel distribution platform TBO Tek Limited has announced impressive financial results for the fourth quarter and full fiscal year 2024. The company reported significant growth across key metrics, underscoring its robust performance and strategic initiatives. The company which recently went public with IPO showcased impressive growth with Revenue reaching INR 1,393 crore, a 31 per cent increase YoY.

Profit After Tax surged to INR 201 crore, up by 35 per cent. Gross Transaction Value stood at INR 26,536 crore, marking a 19 per cent rise. Adjusted EBITDA also saw a substantial growth of 35 per cent. Q4 FY24 results, including Jumbonline, reported a GTV of INR 7,511 crore, revenue of INR 369 crore, and PAT of INR 46 crore, all showing significant YoY increases.

Strategic growth and acquisitions
Gaurav Bhatnagar, Co-founder and Joint MD of TBO Tek Limited, commented on the company’s stellar performance, “FY24 was a landmark year for TBO. Following our successful IPO, we are thrilled to report another year of remarkable growth. Our acquisition of Jumbonline has positively impacted our Q4 results and contributed significantly to our bottom line. These results validate our strategy of focusing on both organic and inorganic growth to drive EBITDA margin expansion through operating leverage.”

Future outlook
Ankush Nijhawan, Co-founder and Joint MD of TBO Tek Limited, emphasised the company’s strategic plans, “Our company’s growth trajectory mirrors the robust expansion in the travel industry. The government’s UDAN scheme, the development of numerous airports, and an estimated investment of USD 1.83 billion in airport infrastructure by 2026 will further catalyse our growth. The outbound air traffic is expected to reach 42 million passengers by 2027, growing at a CAGR of approximately 6 per cent from 2023 to 2027. The outbound travel market is anticipated to grow at a CAGR of 11.1 per cent over the same period, reaching USD 19.6 billion.”

Nijhawan further talked about TBO Tek’s commitment to innovation and strategic partnerships saying, “We are committed to capitalising on this dynamic industry by delivering innovative solutions and forging strategic partnerships. We understand the intricate requirements of our global customers and strive to meet their needs, further solidifying our leadership position. Our innovative culture enables us to offer unique travel and leisure experiences to our clients’ customers. We aim for sustainable growth and long-term value creation for our stakeholders by leveraging emerging industry trends, backed by our solid foundation and visionary leadership.”TBO Tek Limited’s strong financial performance in FY24 underscores its strategic acumen and commitment to growth. With continued investment in global market development, supply strengthening, and platform innovation, the company is well-positioned to capitalise on the expanding travel industry and maintain its leadership position in the market.