Travel distribution platform TBO Tek reported growth in its second quarter driven by international markets from the Middle East and Africa, the Asia-Pacific (APAC) region, and Europe.
TBO’s revenue from operations jumped 26%, with its gross transaction value climbing 12% to INR 89 billion ($1 billion). Profit after tax also rose 12.4%, reaching INR 680 million ($7.7 million).
Europe remained the company’s largest source market for the hotels and ancillaries business segment. However, the business from the MEA and APAC regions increased by 27% and 41%, respectively, in this segment.
The hotels and ancillaries segment was 64% of the gross transaction value, accounting for more than 85% of the gross profit.
India Market Recovering: Meanwhile, India has shown early signs of recovery after macro headwinds in the first quarter, the company said.
Last quarter, the company had said that disruptive events, including the Pahalga
