Tag Archives: quarter

TBO Tek’s PAT rises to INR 60cr for Q2

Travel distribution platform TBO Tek Ltd has posted a 7 per cent rise in profit after tax (PAT) to INR 60 crore in the September quarter.
TBO Tek had reported a PAT of INR 56 crore in the year-ago period.

Revenue from operations for the quarter under review was INR 451 crore as compared to INR 352 crore in the September quarter of last year, registering a growth of 28 per cent year-on-year, it said.

The company said it witnessed strong growth in the hotel segment, both in India and international markets with hotel sales growing in the business, supported by company initiatives, it said.

“We have seen a strong double-digit business growth in all international source markets, in spite of global geo-political headwinds.
“This has been driven by the broad-based contribution from non-air businesses and helped by company’s tech and AI initiatives like H-Next, AI driven pricing and voice-bot and integration of Jumbonline, which are in alignment with our customer expectations,” TBO Tek Ltd Co-founder and Joint MD Gaurav Bhatnagar said.

Ankush Nijhawan, Co-Founder and Joint MD, TBO Tek Ltd, said, “We have already seen significant growth in our hotel and non-air businesses. Our strategic focus on hotel business has allowed us to capture a larger share of the overall travel market, positioning us for continued growth. Increasing demand for outbound travel from India will continue to provide significant tailwinds for the business going forward.”

It also announced the appointment of Shantanu Rastogi, MD & Head, India, at General Atlantic and Akshat Verma, CTO to the Board, to further deepen its expertise and strengthen corporate governance.

TBO Tek’s profit surges 29% during Q1, FY25

Travel Boutique Online (TBO Tek) reported a significant growth in its financial performance for the first quarter (Q1) of the fiscal year 2025.

The company’s consolidated net profit rose by 29% to INR 60.91 crore, compared to INR 47.3 crore during the same period last year. Operating revenue also saw an increase of 21%, reaching INR 418.5 crore from INR 344.6 crore in Q1 FY24.

Breaking down the revenue, TBO Tek generated the most income from its hotels and packages segment, with earnings of INR 320.7 crore. The air ticketing segment contributed INR 90.4 crore. Overall, the total revenue for Q1 FY25 stood at INR 433.91 crore, marking a 25% year-on-year increase.

The company’s investor presentation revealed a gross transaction value (GTV) of INR 7,940 crore in Q1, which represents a 14% year-on-year growth. The hotel segment was responsible for 57% of the GTV, while the air segment contributed 43%. This is a shift from Q1 2024, where the hotel and air segments accounted for 46% and 54% of the GTV, respectively, indicating a stronger growth rate in the hotel sector.

 

September Quarter Sees Airfare Hike, Expected Further Rise in Q3

According to a report in The Hindustan Times, flying expenses could soar in this September quarter due to increased traveller interest during festival weekends. Airlines, already facing aircraft shortages, may struggle to meet demand. Additionally, fares are expected to escalate further during the December quarter, the peak holiday season in India.

According to data from travel company Thomas Cook, advance travel fares for this quarter have surged by up to 20% compared to last year.

Flights from Delhi to destinations such as Chandigarh and Bagdogra are up 10-20% from a year earlier, while from Mumbai, fares to Udaipur, Goa and Jaipur are up 10-13%. Fares from Bengaluru for Goa, Chandigarh, Leh and Srinagar are up by 5-11%.

Multiple public holidays have sparked demand for short trips to domestic destinations, said Indiver Rastogi, president & group head of global business travel at Thomas Cook (India) and SOTC Travel.

This year, Independence Day, Janmashtami, Onam, Eid and Ganesh Chaturthi are near weekends, creating opportunities for extended travel plans. Besides higher travel sentiment, the slow pace of adding aircraft is also driving up fares.

Ratings agency ICRA estimates domestic passenger traffic in June at around 13.28 million, more than 6% from a year earlier, and nearly 10% above pre-covid levels; however, airline capacity deployment in June was up by just 7% on year and lower by 3% over May.

Separately, one of the terminals of Delhi’s international airport, the country’s largest and busiest, remains out of service. A section of the roof at its Terminal 1 collapsed on 28 June after heavy rain.

The terminal is India’s largest with a capacity of 40 million passengers per annum, and while airlines have managed to utilize Terminal 2 and 3 for the affected flights, a slight impact is visible on fares for some routes, an airline executive said on condition of anonymity.

Ixigo reports INR 73cr profit for FY24 with 38% growth in GTV

Ixigo has posted profit of INR 73 crore in FY24 compared to INR 23 crore in the last fiscal. Its total income stood at INR 665 crore, up 28.6 per cent from INR 517 crore a year ago.

Gross Transaction Value (GTV) crossed INR 10,000 crore in FY24, growing by 38 per cent year-on-year (YoY) for the full year and by 34.9 per cent YoY for Q4 FY24. This was led by flight GTV expansion of 75 per cent for the full year and 63.6 per cent for Q4 versus the same quarter in the previous year.

The company highlighted that in the fourth quarter the flights market grew at single digit and take rates contracted due to supply constraints and higher airfares.

Also, there was little to no growth in the reserved train ticket market.

The management noted that despite the slow growth in the travel market, Ixigo continued to grow volumes in flight and train verticals much faster and on buses too, the company grew largely in line with the market.

“We have seen spiritual tourism pick up in our own searches for FY24 with the rise in footfall to Varanasi during the year, and then with the Ram Temple inauguration and the Ayodhya airport launch, we have seen that on flight sectors connecting Ayodhya from major cities, we have been able to tap into a higher market share than our national average and continue to see the same pattern on airports such as Darbhanga, Jharsuguda, Patna, Kanpur, Lucknow, etc,” said Rajnish Kumar, Group Co-CEO, Ixigo. (Source: Moneycontrol)

Despite 5% increase in profit for Q3, SIA faces cost challenges due to fuel costs

Singapore Airlines Ltd. (SIA) has reported a 5% increase in third-quarter profits, reaching SGD 659 million (USD 490 million) compared to the same period last year. The airline also witnessed a 5% surge in revenue for the quarter ending December 31, hitting an all-time quarterly high of SGD 5.1 billion. However, net fuel costs after hedging experienced a notable 9.1% increase.

Despite the positive news of robust ticket sales and a sustained demand for air travel, Singapore Airlines is cautioning about challenges in passenger yields – a key revenue indicator – due to intensified competition. The airline is also expressing concerns about potential impacts from geopolitical and economic uncertainties, which have the potential to influence business sentiment and air travel demand.

In the first nine months of the financial year, Singapore Airlines experienced a significant climb in net income by 35%, reaching SGD 2.1 billion on revenue of SGD 14.2 billion – both reaching all-time highs. The airline has already matched the profit it made in the entire previous fiscal year, indicating a trajectory towards new record highs.

Highlighting its positive performance, Singapore Airlines noted that monthly capacity rebounded to 93% of pre-Covid levels by December. The load factor, indicating how busy its planes are, remained close to 90%. This allowed the airline to outpace its regional rival, Cathay Pacific Airways Ltd., which has faced challenges due to pilot shortages in recent months.

While the continued strength in travel demand is expected to support Singapore Airlines’ earnings in the current quarter, uncertainties loom over the outlook for fuel costs. Asian jet fuel prices have risen since the start of the year due to shipping disruptions in the Red Sea and tighter supplies. However, there is an expectation that oil prices will maintain moderate levels throughout the year.

Yatra surpasses INR 110-crore revenue during Q3, FY24

Yatra has reported positive financial results for the third quarter of the fiscal year 2024 (Q3 FY24), signalling a strong rebound after a challenging second quarter. The company recorded profits and surpassed the INR 110 crore-revenue mark during this period.

According to the consolidated financial results obtained from the National Stock Exchange, Yatra’s revenue from operations grew by 17.2% to INR 110.3 crore in Q3 FY24, compared to INR 94.13 crore in Q2 FY24. This represents a significant increase of over 23% from the same quarter in the previous fiscal year (Q3 FY23), where the operating revenue was INR 89.6 crore.

Noteworthy points from the report include the fact that 40.3% of the total operating revenue was generated through hotels and packages bookings, which saw a robust growth of 23.4% INR Rs 44.5 crore in Q3 FY24 from INR 36.06 crore in Q2 of the same financial year. Revenue from air ticketing also increased by 5.9% to Rs 41.5 crore during the same period. The remaining revenue of INR 24.3 crore came from other operating services and advertising income, including hosting ads on its website, the sale of coupons and vouchers, and facilitating website access to a travel insurance company.

Yatra’s overall expenditure increased by only 3% to INR 117 crore during Q3, up from Rs 113.6 crore in Q2 FY24. Notably, the company managed to control its expenses, resulting in a profit of INR 1.06 crore in Q3, a significant turnaround from the INR 17.13-crore loss in the previous quarter (Q2 FY24) and the INR 5.6 crore loss in the same quarter last year (Q3 FY23).

For the nine-month period from April to December 2023, Yatra registered INR 314.6 crore in revenue from operations, accompanied by a loss of INR 10.08 crore. Since entering the Indian public market in September of the previous year, Yatra has shown resilience, with a market cap of over INR 2,700 crore and a current share price of INR 170. Additionally, the company is listed on NASDAQ with a share price of USD 1.64 and a market cap of USD 105 million.