TBO Tek Q2 FY27 Results: Consolidated Net Profit ₹75.99 Crore on Total Income of ₹880 Crore
- Earnings
- online travel
Reviewed byKeshav SehgalBlacklitt Research
In a filing on 02 Nov 2026, TBO Tek reported consolidated total income of ₹880.39 crore and net profit of ₹75.99 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹172.49 crore and standalone net profit was ₹15.89 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹880.39 crore, up 51.1% YoY and down 6.2% QoQ
- Net profit and EPS: ₹75.99 crore, up 12.5% YoY; basic EPS ₹7.08 against ₹6.32 a year earlier
- Finance costs: ₹16.96 crore, up 91.2% YoY
- Exceptional item: ₹8.14 crore, a preliminary net financial loss at an overseas subsidiary
Standalone
The company on its own, without its subsidiaries
- Total income: ₹172.49 crore, up 10.7% YoY and up 1.8% QoQ
- Net profit and EPS: ₹15.89 crore, up 61.5% YoY and down 20.8% QoQ; basic EPS ₹1.48
- Other income: ₹16.55 crore, up 43.8% YoY, while revenue from operations rose 8.1%
- FEMA penalty: ₹22.22 crore on the company under an order dated 16 Oct 2026; the company is in the process of filing an appeal
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 880.39 | 582.70 | +51.1% | 938.68 | -6.2% | |
| Revenue from operations | 865.63 | 567.51 | +52.5% | 925.78 | -6.5% |
| Other income | 14.76 | 15.19 | -2.8% | 12.90 | +14.4% |
| 75.99 | 67.55 | +12.5% | 83.36 | -8.8% | |
| Finance costs | 16.96 | 8.87 | +91.2% | 14.58 | +16.3% |
| Depreciation | 33.84 | 16.15 | +109.5% | 33.04 | +2.4% |
| Tax expense | 15.54 | 10.68 | +45.5% | 19.94 | -22.1% |
| Net profit margin | 8.63% | 11.59% | -2.96 pp | 8.88% | -0.25 pp |
| Tax as share of profit before tax | 17.0% | 13.7% | +3.32 pp | 19.3% | -2.33 pp |
| EPS, basic (₹) | 7.08 | 6.32 | +12.0% | 7.77 | -8.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated total income rose 51.1% to ₹880.39 crore, while net profit rose 12.5% to ₹75.99 crore. Revenue from operations rose 52.5% and other income fell 2.8% to ₹14.76 crore. Against the June quarter, total income fell 6.2% and net profit fell 8.8%.
Finance costs rose 91.2% to ₹16.96 crore and depreciation rose 109.5% to ₹33.84 crore, both against the year-earlier quarter. The consolidated results include Classic Vacations LLC, acquired on 1 Oct 2025, and are not comparable with the quarter ended 30 Sep 2025.
A wholly owned overseas subsidiary identified irregularities after the quarter ended, involving suspected collusion among current and former employees of the subsidiary and the company. On a preliminary assessment, the subsidiary's net financial loss is estimated at ₹8.14 crore (USD 0.85 million), and management says the final loss may differ on completion of a detailed assessment.
Considering the non-recurring nature of the incident, the company presents the loss as an exceptional item for the quarter and period ended 30 Sep 2026, and says the group has insurance for such matters or incidents. Profit before tax, stated after this exceptional item, rose 17.0% to ₹91.54 crore from ₹78.23 crore, faster than net profit.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 172.49 | 155.75 | +10.7% | 169.44 | +1.8% | |
| Revenue from operations | 155.94 | 144.24 | +8.1% | 157.17 | -0.8% |
| Other income | 16.55 | 11.51 | +43.8% | 12.27 | +34.9% |
| 15.89 | 9.84 | +61.5% | 20.07 | -20.8% | |
| Finance costs | 2.40 | 2.21 | +8.6% | 2.43 | -1.2% |
| Depreciation | 6.34 | 4.85 | +30.7% | 6.37 | -0.5% |
| Tax expense | 5.42 | 3.51 | +54.4% | 6.67 | -18.7% |
| Net profit margin | 9.21% | 6.32% | +2.89 pp | 11.84% | -2.63 pp |
| Tax as share of profit before tax | 25.4% | 26.3% | -0.86 pp | 24.9% | +0.49 pp |
| EPS, basic (₹) | 1.48 | 0.92 | +60.9% | 1.87 | -20.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 10.7% to ₹172.49 crore and net profit rose 61.5% to ₹15.89 crore. Other income rose 43.8% to ₹16.55 crore, while revenue from operations rose 8.1% to ₹155.94 crore.
Against the June quarter, standalone net profit fell 20.8% from ₹20.07 crore, while total income rose 1.8%. Tax expense of ₹5.42 crore was 25.4% of profit before tax, against 26.3% a year earlier.
An adjudication order dated 16 Oct 2026, from the Special Director (Adjudication), Directorate of Enforcement, under FEMA, imposes a penalty of ₹22.22 crore on the company and ₹2.47 crore on each Joint Managing Director. The company says it is in the process of filing an appeal, and on legal advice that the prospects of success are high and the penalties are unlikely to be sustained. No adjustments have been made to the results pending the appeal.
The statutory auditors, S.R. Batliboi & Co. LLP, draw attention to this order in an emphasis of matter on the standalone results, and say their conclusion is not modified in respect of it.
Inference
The company says the USD 125 million acquisition of Classic Vacations LLC, completed on 1 Oct 2025, was funded through internal accruals, an inter-corporate loan from the company to a subsidiary, and credit facilities of USD 70 million backed by corporate guarantees from the company and a subsidiary.
The board approved the results on 2 Nov 2026, and the statutory auditors issued an unmodified conclusion on the consolidated results.
Two points are open: the final amount of the irregularities loss, which management says may differ, and when the appeal against the penalty will be decided.
Filed with BSE on . Reference: Original filing (PDF)
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