TBO Tek reports profit of Rs 201 cr for FY24
TBO Tek reported revenues of Rs 1393 crore for financial year 2024, an increase of 31% year on year.
The company said it clocked a net profit of Rs 201 crore for financial year 2024, up 35% year on year.
Gaurav Bhatnagar, co-founder and joint MD, TBO Tek Limited said financial year 2024 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% year on year 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% year-over-year growth,» he said.
“Our acquisition of Jumbonline has already started showing positive results and contributed meaningfully to our bottom line in quarter four. 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 the company's 'remarkable' trajectory has mirrored the 'robust' growth in the travel industry.
«The government's UDAN scheme initiative, development of large number of airports and estimated investment of $1.83 billion in airport infrastructure by 2026 will act as a
