TBO Tek Ltd announced a robust Q2 FY26 performance, demonstrating a 26% YoY revenue increase. Adjusted EBITDA margin before acquisition-related costs reached 18.32%. The company saw strong recovery, particularly in Europe, APAC, and India. GTV grew by 12% YoY to ₹8,901 Cr. During the quarter, TBO completed the acquisition of Classic Vacations for $125Mn.
Q2 FY26 Financial Highlights
TBO Tek Ltd reported strong financial results for Q2 FY26, driven by broad-based growth and improved profitability:
- GTV: ₹8,901 Cr, a 12% YoY increase.
- Revenue: ₹568 Cr, representing a 26% YoY growth.
- Gross Profit: ₹363 Cr, a 19% YoY increase.
- Adjusted EBITDA (before acquisition costs): ₹104 Cr, up by 16% YoY.
- PAT: ₹68 Cr, showing a 12.4% YoY increase.
Key Business Drivers
Several factors contributed to the company’s strong performance:
- Recovery from Q1 headwinds with positive momentum in Europe, APAC, and India.
- Monthly Transacting Buyers reached 30,662, up 8% YoY.
- GTV growth driven by strong performance in APAC, MEA, and Europe.
- Hotels + Ancillaries GTV grew by 20.4% YoY.
- The India business showed signs of stability and recovery.
Strategic Developments
TBO Tek completed a significant acquisition during the quarter:
- Acquired 100% equity stake in Classic Vacations for $125Mn. This acquisition was completed on October 1, 2025.
Segment Performance
Key observations regarding segment performance include:
- Europe emerged as the largest source market for Hotel + Ancillary business.
- MEA (+27% YoY) and APAC (+41% YoY) were key growth drivers.
- Hotels + Ancillaries accounted for 64% of GTV and 87% of Gross Profit.
- The TBO Platinum program now includes 150+ hotels.
Leadership Commentary
Mr. Ankush Nijhawan, Co-founder and Joint MD, TBO Tek Limited, stated that the company’s growth was broad-based across regions, driven by strong momentum in international markets and stabilization in India. He expressed confidence in sustaining profitable growth and strengthening long-term value creation.
Mr. Gaurav Bhatnagar, Co-founder and Joint MD, TBO Tek Limited, highlighted the strength of TBO Tek’s model and execution. He mentioned improved profitability and clear signs of structural operating leverage. He noted that the Classic Vacations acquisition marks the next phase for the company, with sharper focus and a wider global footprint.
Source: BSE