Travel Support Services company TBO Tek announced Q2FY26 results Consolidated Financial Highlights: GTV of Rs 8,901 crore v/s Rs 7,937 crore [+ 12% YoY] Revenue from operations of Rs 568 crore v/s. Rs 451 crore [+ 26% YoY] Gross Profit of Rs 363 crore v/s. Rs 306 crore [+ 19% YoY] Adjusted EBITDA before acquisition related costs - Rs 104 crore v/s. Rs 90 crore [+ 16% YoY] PAT of Rs 68 crore v/s. Rs 60 crore [+ 12.4% YoY]. Business Highlights: The quarter saw a strong recovery from Q1’s macro headwinds, with key markets like Europe, APAC and India showing positive momentum Monthly Transacting Buyers reached 30,662, up 8% YoY, driven by a 23.6% YoY increase in International MTBs while the Indian base remained steady at high engagement levels. GTV grew 12% YoY to Rs 8,901 crore, led by strong performance across APAC, MEA, and Europe. Hotels + Ancillaries GTV grew by 20.4% YoY. The India business continued on its path of consolidation this quarter, marking a complete arrest of the headline degrowth trend, underscoring early signs of stability and recovery. During the quarter, TBO announced the agreement to acquire 100% equity stake in Classic Vacations for $125 million. The acquisition was completed on 1st October 2025. We also recorded one-time acquisition related costs of Rs 13.15 crore. Adjusted EBITDA Margin before Acquisition related Costs stood at 18.32% for quarter, up from 16.56% in Q1FY26 Europe remained our largest source market for Hotel + Ancillary business while MEA (+27% YoY) and APAC (+41% YoY) were key growth drivers in the category. Hotels + Ancillaries expanded their saliency in the business mix, accounting for 64% of GTV and 87% of Gross Profit, underscoring the margin-accretive nature of growth Ankush Nijhawan, Co-founder and Joint MD, TBO Tek said " Our growth this quarter was broad based across regions, led by strong momentum in international markets and early signs of stabilization in India. With Hotels and Ancillaries continuing to deepen their contribution and operating leverage beginning to play through, we are confident of sustaining profitable growth and strengthening the foundation for long-term value creation” Gaurav Bhatnagar, Co-founder and Joint MD, TBO Tek said, “This quarter’s performance reflects both the strength of our model and the discipline of execution. Growth was broad based, profitability improved, and the business showed clear signs of structural operating leverage. With the KAM expansion nearing completion and Classic Vacations now part of the platform, we enter the next phase with sharper focus, stronger fundamentals, and a wider global footprint." Result PDF
Travel Support Services company TBO Tek announced Q1FY26 results GTV of Rs 8,119 crore vs Rs 7,940 crore, change + 2% YoY. Revenue from operations of Rs 511 crore vs Rs 418 crore, change + 22% YoY. Gross Profit of Rs 333 crore vs Rs 280 crore, change + 19% YoY. Adjusted EBITDA of Rs 85 crore vs Rs 85 crore, change (0)% YoY. PAT of Rs 63 crore vs Rs 61 crore, change + 3% YoY. Gaurav Bhatnagar, Co-founder & Joint MD, TBO Tek, said: "Q1FY26 saw the structural strength of our business being clearly demonstrated in the face significant headwinds. As we build on top of this solid base, during the quarter we started to see early yet clear green shoots of the impact of our investments in growth. Our active agents base, in the growth markets, has started showing a clear growth trajectory since February 2025, when we started our investments into growth. In Q1FY26, sales driven by new agents (agents acquired in the same financial year – FY26) were up 132% YoY vs sales driven by new agents in Q1FY25. We expect to complete our growth hiring and investments by Q2FY26 and expect Revenue growth to outpace SG&A; expenses growth starting Q4FY26." Ankush Nijhawan, Co-founder & Joint MD, TBO Tek, said: "Amid one of the most difficult quarters for the Indian travel space, our business started showing signs of a momentum change. From a 4% growth in our Hotels + Ancillary business in India, to a reduction in India GTV YoY degrowth from Q4FY25 to Q1FY26, when the Industry was under severe pressure, our business is showing encouraging signs. With our strategic focus on driving higher share of wallet through cross-sell initiatives continuing to pay dividends with our Hotels & Ancillaries segment now contributing 20% to India GTV, we are optimistic about the remainder of the year and expect the headwinds to fade and be replaced by broad based strength.” Result PDF