Travel distribution platform TBO Tek reports FY24 results
FY 24 was a landmark year for TBO. Following our successful IPO, says Gaurav Bhatnagar, co-founder and Joint MD
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TBO Tek Limited, one of the leading travel distribution platforms in the global travel and tourism industry in terms of GTV and revenue announced its audited Financial Results for the Q4-FY 2024 and Financial Year 2024 results today.
Gaurav Bhatnagar, co-founder and Joint MD, TBO Tek Limited said, “FY 24 was a landmark year for TBO. Following our successful IPO, we are thrilled to report another year of remarkable growth, with revenue soaring to 1,393 cr., showcasing 31 per cent increase with adjusted EBITDA at Rs. 270 cr. with 35 per cent y-o-y growth and net profits after tax at Rs 201 cr., a 35 per cent Increase, and gross transaction value surging to Rs 26,536 cr., marking a 19 per cent year-over-year growth.”
“Our acquisition of Jumbonline has already started showing positive results and contributed meaningfully to our bottom line in Q4. We believe that the results are a validation of strategy to focus on both organic and inorganic growth to drive EBITDA margin expansion via operating leverage.”
In the coming year, we will continue to invest in global market development, supply strengthening and platform innovation. We will be looking for strategic inorganic opportunities as well, he added.
Ankush Nijhawan, Co-founder and Joint MD, TBO Tek Limited said, “Our company's remarkable trajectory has mirrored the robust growth in the travel industry. Government's UDAN scheme initiative, development of large no. of airports and estimated investment of $1.83 billion in airport infrastructure by 2026 will act as a catalyst to the company’s and the industry growth.”
The outbound air traffic is expected to reach 42 million passengers in 2027 growing at a CAGR of approximately 6 per cent between 2023 and 2027. The outbound travel market is expected to grow at a CAGR of 11.1 per cent over 2023 to 2027 reaching $19.6 billion. We remain committed to capitalizing on this dynamic industry, delivering innovative solutions and forging strategic partnerships. We understand the intricate requirements of our global customers, and always strive to deliver to their needs and further solidify our leadership position. An innovative culture in the company enables us to deliver offerings to our clients, allowing them to provide travel and leisure experiences to their customers. We are committed to company's sustainable growth to create long-term value stakeholders value by capitalizing on emerging industry trends backed by our solid foundation and visionary leadership, he said.
