Travel distribution platform TBO Tek has announced impressive financial results for the fiscal year 2024, reporting revenues of Rs 1,393 crore, marking a 31% increase year-on-year. The company also recorded a net profit of Rs 201 crore for FY24, up 35% from the previous year.
Gaurav Bhatnagar, Co-Founder and Joint Managing Director of TBO Tek Limited, highlighted the significance of the past year for the company, stating, "Financial year 2024 was a landmark year for TBO. Following our successful IPO, we are thrilled to report another year of remarkable growth. Our revenue soared to Rs 1,393 crore, showcasing a 31% increase, with adjusted EBITDA at Rs 270 crore, reflecting a 35% year-on-year growth. Net profits after tax reached Rs 201 crore, also up by 35%, and our gross transaction value surged to Rs 26,536 crore, marking a 19% year-over-year growth."
Ankush Nijhawan, Co-Founder and Joint Managing Director of TBO Tek Limited, attributed the company's success to the robust growth in the travel industry. He stated, "Our remarkable trajectory has mirrored the robust growth in the travel industry. The government's UDAN scheme initiative, the development of a large number of airports, and an estimated investment of $1.83 billion in airport infrastructure by 2026 will act as catalysts for both the company’s and the industry’s growth."
Looking ahead, Nijhawan also mentioned the promising outlook for outbound air traffic, which is expected to reach 42 million passengers by 2027, growing at a compound annual growth rate (CAGR). This growth is anticipated to further drive TBO Tek’s expansion and solidify its position in the travel distribution market.
TBO Tek’s strong performance in FY24 underscores its strategic vision and ability to capitalize on the burgeoning opportunities in the travel sector. With continued focus on innovation and market expansion, the company is well-positioned to maintain its growth trajectory in the coming years.
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