Operating revenue increased 21% to INR 418.5 Cr during the quarter under review from INR 344.6 Cr in Q1 FY24
TBO Tek’s total expenses shot up 25% YoY to INR 358.4 Cr in Q1 FY25
TBO Tek provides travel solutions to travel agents and tour operators. It offers white-label solutions, hotel and flight booking APIs and dynamic packages, among others
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
B2B travel portal Travel Boutique Online or TBO Tek’s consolidated net profit rose 29% to INR 60.91 Cr in the first quarter (Q1) of financial year 2024-2025 (FY25) from INR 47.3 Cr in the same period a year ago.
Operating revenue increased 21% to INR 418.5 Cr during the quarter under review from INR 344.6 Cr in Q1 FY24.
Among its key segments, the company generated the highest revenue from hotels and packages at INR 320.7 Cr. It earned INR 90.4 Cr revenue in Q1 from the air ticketing segment.
Total revenue stood at INR 433.91 Cr in Q1 FY25, up 25% year-on-year (YoY).
According to its investor presentation, TBO Trek’s gross transaction value (GTV) stood at INR 7,940 Cr in Q1, reflecting approximately 14% year-on-year growth. The hotel segment accounted for 57% of the GTV, while the air segment accounted for 43%. In Q1 2024, the contributions from the hotel and air segments were 46% and 54%, respectively, highlighting a higher growth rate in the hotel segment.
Founded in 2006, TBO Tek provides travel solutions to travel agents and tour operators. It offers white-label solutions, hotel and flight booking APIs and dynamic packages, among others.
TBO Tek made its public market debut in May. The stock listed at INR 1,426 on the NSE, a premium of 55% to its issue price of INR 920. Similarly, the stock listed at INR 1,380 on the BSE, a premium of 50% to its issue price.
Where Did TBO Tek Spend?
TBO Tek’s total expenses shot up 25% YoY to INR 358.4 Cr in Q1 FY25.
Service Fees: TBO Tek spent INR 138.7 Cr on service fees during the quarter under review, up 14.6% from INR 121 Cr in the corresponding quarter a year ago. Service fees was the biggest expense for the company.
Employee Benefit Expenses: Workforce-related expenses jumped 4.5% to INR 82.16 Cr in Q1 FY25 from INR 78.7 Cr in the year-ago period.
Other Expenses: The listed travel tech startup spent INR 113.9 Cr on other expenses, compared to INR 92.5 Cr in Q1FY24. However, it did not divulge any details of the other expenses.
Shares of TBO Tek ended Tuesday’s (August 13) trading session 4% lower at INR 1,636.10 on the BSE.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.