TBO Tek Limited , announces its unaudited financial results for the quarter ended September 30, 2025 (Q2 FY26). The company delivered strong performance across key financial and operational parameters, marking a solid rebound from Q1’s macroeconomic challenges.
Financial Highlights (YoY Growth)
-
GTV: ₹78,901 Cr vs ₹70,937 Cr [+12% YoY]
-
Revenue from Operations: ₹568 Cr vs ₹451 Cr [+26% YoY]
-
Gross Profit: ₹363 Cr vs ₹306 Cr [+19% YoY]
-
Adjusted EBITDA (before acquisition-related costs): ₹104 Cr vs ₹90 Cr [+16% YoY]
-
PAT: ₹68 Cr vs ₹60 Cr [+12.4% YoY]
Operational Highlights
-
Monthly Transacting Buyers (MTBs) reached 30,662, up 8% YoY, driven by a 23.6% YoY increase in International MTBs, while India maintained strong engagement levels.
-
GTV grew 12% YoY to ₹78,901 Cr, led by robust performance in APAC, MEA, and Europe.
-
Hotels + Ancillaries GTV grew by 20.4% YoY, now contributing 64% of total GTV and 87% of Gross Profit, reaffirming the category’s margin-accretive strength.
-
Adjusted EBITDA Margin (before acquisition-related costs) improved to 18.32%, up from 16.56% in Q1 FY26.
Business Updates
The quarter underscored TBO’s broad-based growth momentum and operating leverage, with Europe remaining the largest source market for the Hotel + Ancillary segment. MEA and APAC registered strong YoY growth of +27% and +41% respectively. The India business continued on a path of consolidation, marking an end to the degrowth trend and showing early signs of stability and recovery.
TBO also expanded its TBO Platinum program, now spanning 150+ hotels, strengthening its exclusive partnerships with premium properties worldwide.
Strategic Development
During the quarter, TBO announced the acquisition of 100% equity stake in Classic Vacations for $125 million, a strategic move to further enhance its global presence. The acquisition was completed on October 1, 2025, and the company recorded one-time acquisition-related costs of ₹13.15 Cr during the quarter.
Management Commentary
Commenting on the performance, the company stated:
“Q2 FY26 marks a clear rebound for TBO, with strong growth across all major regions and improving profitability. With moderation in SG&A and expanding operating leverage, we continue to build a scalable, resilient, and margin-accretive business as we grow our global footprint.”
