News ArticleTBO Tek Limited Reports 53% Revenue Growth and ₹152 Crore Adjusted EBITDA in Q2 FY27
Global travel platform posts ₹11,695 crore Gross Transaction Value with robust gains in Hotels and Airlines businesses despite macro headwinds
TBO Tek Limited announced its unaudited consolidated financial results for the quarter ended September 30, 2026, reporting a 53% year-on-year increase in revenue to ₹866 crore and an adjusted EBITDA rise of 47% to ₹152 crore, driven by strong global travel distribution performance including significant growth in hotel and airline segments.
TBO Tek Limited
General / Other
TBO Tek Limited announced its Q2 FY27 consolidated financial results with revenue rising 53% year-on-year to ₹866 crore and adjusted EBITDA increasing 47% to ₹152 crore, supported by broad-based growth across India, APAC, Europe, North America, and a notable recovery in its Middle East business.
The company recorded Gross Transaction Value (GTV) of ₹11,695 crore for the quarter, a 31% increase over the previous year. The Hotels and Ancillary business segment posted a 39% GTV growth to ₹7,889 crore, while the Airlines segment grew 18% to ₹3,807 crore.
Monthly Transacting Buyers (MTBs) increased 13% year-on-year to 34,529, with the international segment's MTBs growing 17.4% to 14,449, reflecting sustained agent activity and platform engagement.
The quarter faced macroeconomic challenges such as geopolitical disruptions and high fuel prices, yet the company demonstrated operating leverage through increased revenue and margin expansion.
Cash and cash equivalents totaled ₹2,060 crore as of September 30, 2026, following a $10 million prepayment of term debt.
Highlights
- Total GTV rose 31% YoY to ₹11,695 crore in Q2 FY27.
- Revenue increased 53% YoY to ₹866 crore.
- Adjusted EBITDA reached ₹152 crore, up 47% YoY.
- PAT grew 13% YoY to ₹76 crore.
- Strong growth in Hotels + Ancillary GTV at ₹7,889 crore, up 39% YoY.
- Airlines segment GTV at ₹3,807 crore, up 18% YoY.
Key Data Snapshot
What happened
- TBO Tek Limited announced its unaudited consolidated financial results for Q2 FY27.
- The company posted a revenue of ₹866 crore, representing 53% year-on-year growth.
- Adjusted EBITDA increased 47% year-on-year to ₹152 crore.
- Gross Transaction Value (GTV) reached ₹11,695 crore, up 31% from the previous year.
- Profit after tax for the quarter was ₹76 crore, a 13% increase year-on-year.
Key details
- Hotels and Ancillary business segment GTV was ₹7,889 crore, up 39% year-on-year.
- Airlines business segment GTV totaled ₹3,807 crore, up 18% year-on-year.
- Monthly Transacting Buyers increased 13% year-on-year to 34,529.
- Strong growth observed across India, APAC, Europe, North America and recovery in Middle East business.
- Cash and cash equivalents stood at ₹2,060 crore as of September 30, 2026, after a $10 million term debt prepayment.
Strategic context
- Company demonstrated operating leverage with adjusted EBITDA growth outpacing gross profit growth.
- Growth driven by platform scalability, expanding distribution, and technology-enabled productivity improvements.
- Middle East recovery suggests market share gains through service differentiation and reliability despite geopolitical challenges.
- India business sustained growth with Airlines and Hotels segments growing 14.5% and 12.2% year-on-year respectively.
Management commentary
- Mr. Ankush Nijhawan highlighted resilience despite macro headwinds and benefits from globally diversified markets and cost base focus.
- Mr. Gaurav Bhatnagar noted that adjusted EBITDA growth exceeding gross profit growth demonstrates structural operating leverage and validates investment strategy.
Highlights
- Total GTV rose 31% YoY to ₹11,695 crore in Q2 FY27.
- Revenue increased 53% YoY to ₹866 crore.
- Adjusted EBITDA reached ₹152 crore, up 47% YoY.
- PAT grew 13% YoY to ₹76 crore.
- Strong growth in Hotels + Ancillary GTV at ₹7,889 crore, up 39% YoY.
- Airlines segment GTV at ₹3,807 crore, up 18% YoY.
Disclosures
- Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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