TBO Tek Q2 results: Profit rises 12%, revenue jumps 53% as travel demand lifts business

TBO Tek reported a 12.4% year-on-year increase in net profit to ₹76 crore for the September quarter, compared with ₹68 crore in the year-ago period, as growth in its travel distribution business drove a sharp rise in revenue.

Revenue from operations jumped 52.5% to ₹866 crore from ₹568 crore a year earlier. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 54.1% to ₹136 crore, compared with ₹88 crore in the corresponding quarter last year.

EBITDA margin improved marginally to 15.7% from 15.5% a year ago.

The travel distribution platform recorded 34,529 monthly transacting buyers in the September quarter, up 13% year on year. Its cash and cash equivalents stood at ₹2,060 crore at the end of September.

Hotels and airline business drive growth

TBO Tek reported broad-based growth across its key markets in the September quarter. Gross transaction value (GTV) in its Hotels and Ancillary business rose 39% year on year to ₹7,889 crore, while GTV in its Airlines business increased 18% to ₹3,807 crore.

The company said growth was spread across India, Asia-Pacific (APAC), Europe and North America, alongside a strong recovery in its West Asia business despite ongoing geopolitical disruptions and higher fuel prices.

Within the Hotels and Ancillary segment, GTV in Europe and APAC grew 36% and 33%, respectively. India's airline business recorded 14.5% growth, while its Hotels and Ancillary segment expanded 12.2% year on year.

TBO Tek's organic international business also saw monthly transacting buyers rise 17.4% year on year to a record 14,449. The company attributed the increase partly to investments in key account management (KAM) hiring made last year.

The company said the recovery in its West Asia business, despite continued weakness in the underlying market, could indicate market-share gains driven by service differentiation and reliability.

Cash position and management commentary

TBO Tek had cash and cash equivalents of ₹2,060 crore as of September 30, 2026. This included bank balances, deposits and liquid investments, and was recorded after a $10 million prepayment of term debt.

Co-founder and Joint Managing Director Ankush Nijhawan said the platform had remained resilient amid macroeconomic headwinds, supported by its diversified source and destination markets and India-focused cost base. He added that the company's relationships and service quality would remain key differentiators as the platform scales.

Co-founder and Joint Managing Director Gaurav Bhatnagar said adjusted EBITDA growth in the organic business had outpaced gross profit growth for the second consecutive quarter. He attributed this to operating leverage, with earlier commercial investments driving higher platform activity without a proportionate increase in costs.

Bhatnagar added that the company would continue to expand distribution while using technology to improve productivity and lower its cost to serve.

Shares of TBO Tek closed 4.22% higher at ₹1,596.80 on the NSE on Monday, ahead of the earnings announcement.

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