TBO Tek stands out among listed travel-tech platforms, shares may rally up to 17%: JM Financial

TBO stands out as one of the few established internet companies with a history of robust and consistent profitable growth, and exceptionally high return ratios. It achieved a GTV CAGR of 25% from FY17 to FY24 and has been profitable since FY16, with a PAT exceeding Rs 200 crore in FY24. Notably, this growth was fueled by strong internal accruals, with only Rs 60 crore raised from external funds pre-IPO.