Travel distribution platform TBO Tek's revenue surges 26% YoY to Rs 567 crore in Q2 FY26

Travel Boutique Online (TBO Tek), a travel distribution platforms, reported strong financial performance for the quarter ended September 30, 2025 (Q2 FY26).

According to unaudited financial results filed with the National Stock Exchange, TBO’s operating revenue grew 26% year-on-year to Rs 567 crore, compared with Rs 450 crore in Q2 FY25. Income from the booking of hotels and packages, which accounted for 84% of revenue, surged 34% YoY to Rs 479 crore, while income from air-ticketing and allied services contributed Rs 78 crore, and other income sources added Rs 10 crore.

The company’s Gross Transaction Value (GTV) stood at Rs 8,901 crore, up 12% YoY from Rs 7,937 crore, driven by strong momentum in APAC, MEA, and Europe. The Hotels + Ancillaries segment continued to be the growth engine, expanding 20.4% YoY and now contributing 64% of GTV and 87% of gross profit—underscoring its high-margin nature. Europe remained the largest source market within the Hotel and ancillary business, while MEA (+27%) and APAC (+41%) led the acceleration.

TBO reported a Gross Profit of Rs 363 crore (up 19% YoY) and an Adjusted EBITDA (before acquisition-related costs) of Rs 104 crore, an increase of 16% from the same period last year. The Adjusted EBITDA margin improved to 18.32%, up from 16.56% in Q1 FY26.

The company’s Profit After Tax (PAT) rose 12% YoY to Rs 67.5 crore, compared with Rs 60 crore in Q2 FY25. On a half-yearly basis, TBO recorded a profit of Rs 130.5 crore in H1 FY26, up 8% from Rs 121 crore in the same period a year ago.

On the cost side, service fees remained the largest expense, accounting for 40% of total expenditure (Rs 204 crore), followed by employee benefits of Rs 108 crore. Overall, total costs increased 28% YoY to Rs 504 crore in the quarter.