Global Markets Lift TBO Tek’s Growth, More Airlines Look at India

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