India · Delayed Price · Currency is INR TBO Tek Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2026 saw strong organic air growth, Classic Vacations' integration, and robust operating leverage. Gross profit to EBITDA conversion remains healthy, with Classic's cross-sell and negative working capital supporting future growth.
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Q2 FY26 saw strong growth with GTV up 12% and GP up 19% year-over-year, led by hotels and new agent additions. Classic Vacations acquisition was completed, with integration expected to drive margin expansion. Operating leverage is improving, and EBITDA margins are set to rise.
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Q1 FY26 saw strong revenue and gross profit growth despite major industry headwinds, with resilience driven by hotel and ancillary business expansion and international sales investments. Margin stabilization and operating leverage are expected by Q4 as investments taper.
Fiscal Year 2025
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Revenue and profit grew strongly in FY25, led by the hotels segment, which now drives most of the business’s gross profit. International expansion, new market entries, and investments in sales and technology underpin continued growth, despite macro and competitive headwinds.
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Q3 FY2025 saw 26% GTV and 29% revenue growth, led by international expansion and strong hotel segment performance. Adjusted EBITDA rose 26%, with robust cash reserves supporting ongoing investments, though forex losses and seasonality present near-term challenges.
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Q2 FY25 saw robust growth in GTV (+24%), revenue (+28%), and gross profit (+35%), led by the hotels segment, which now drives the majority of business. International expansion, AI initiatives, and the fast-tracked Jumbo Online integration supported performance, with strong cash reserves and stable margins maintained.
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Q1 FY25 delivered strong growth with revenue up 21% and net profit up 29% year-over-year, driven by a shift to higher-margin non-air business and successful integration of Jumbo Online. International and hotel segments outperformed, while domestic air was de-emphasized for margin improvement.