Q4FY24 Quarterly & FY24 Annual Result Announced for TBO Tek Ltd.
Travel Support Services company TBO Tek announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: GTV Increase to Rs 7,511 crore (+22% vs prior year) Revenue jumps to Rs 369 crore (+ 31% % vs Prior year) Adjusted EBITDA at Rs 69 crore (+76% vs Prior year) PAT at Rs 46 crore (+64% vs prior year) FY24 Financial Highlights: Revenue at Rs 1,393 crore, +31% vs prior year PAT at Rs 201 crore +35% vs prior year Gaurav Bhatnagar, co-founder and Joint MD, TBO Tek Limited said, “FY24 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 crore, showcasing 31% increase with adjusted EBITDA at Rs. 270 crore with 35% y-o-y growth and net profits after tax at Rs 201 crore, a 35% Increase, and gross transaction value surging to Rs 26,536 crore, marking a 19% YoY 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 USD 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% between 2023 and 2027. The outbound travel market is expected to grow at a CAGR of 11.1% over 2023 to 2027 reaching USUSD 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 added.” Result PDF31-05-2024
