Thomas Cook Reports Record Growth In Operating Profits For Q1 FY 2024

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Operating EBITDA triples from Rs. 555 Mn in Q1 FY23 to Rs. 1,474 Mn in Q1 FY24

Consolidated Operating PBT grows significantly from Rs. 33 Mn to Rs. 914 Mn for the same period

Reflects strong performance across business segments

Highlights for Q1 FY24

  • The Group’s Operating EBITDA grew significantly to Rs. 1,474 Mn for Q1 FY24 against Rs. 555 Mn compared to the same quarter last year. Growth driven primarily by Foreign Exchange & Travel Businesses (Thomas Cook and SOTC); Hospitality (Sterling Holidays)
  • Consolidated Operating PBT grew over 27 times in Q1 FY24; at Rs. 914 Mn Vs Rs. 33 Mn in Q1 FY23
  • Standalone Operating EBITDA at Rs. 736 Mn for Q1 FY24 Vs Rs. 286 Mn in Q1 FY23, Operating PBT at Rs. 574 Mn Vs Rs. 115 Mn in Q1 FY23
  • Sterling Holidays registered EBITDA at Rs. 475 Mn for Q1 FY24 Vs Rs. 411 Mn in Q1 FY23; PBT at Rs. 358 Mn Vs Rs. 283 Mn in Q1 FY23
  • Strong order book, signaling robust forwards for Q2 FY24. Holidays at 116%, MICE 113% Vs Q2 FY23
  • The Group continues to maintain a strong financial position, with Cash & Bank balances of Rs. 14,090 Mn as of June 30, 2023

Mumbai, Aug 10, 2023 – Thomas Cook India Ltd, the leading omnichannel travel services company of India, has reported a 27 fold increase in consolidated operating profits and a 166 percent jump in the Group’s operating EBITDA in the first quarter of FY24. The group reported Rs. 1,474 Mn for Q1 FY24 against Rs. 555 Mn for the corresponding period last year. The company reported Rs. 914 Mn in consolidated operating profits this quarter as against Rs. 33 Mn in Q1 FY23.

Profits of Sterling Holidays, a subsidiary of TCIL, soared 16 percent this quarter to Rs. 475 Mn against Rs. 411 Mn in Q1 last year. The company reported EBITDA of Rs. 475 Mn in Q1 in FY24.

The Group’s financial results showing are primarily driven by the Foreign Exchange and Travel Businesses of TCIL and SOTC, with all businesses showing double digit growth.

Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited, said “On the back of a commendable performance for FY23, the first quarter of FY24 has seen yet another very strong performance by the TCIL Group with Operating EBITDA at Rs. 1,474 Mn Vs Rs. 555 Mn for Q1 FY23. The robust performance for Q1 – a traditionally strong quarter seasonally, was driven primarily by our Foreign Exchange and Travel Businesses (across Thomas Cook India & SOTC) and Sterling Holiday Resorts.”

“Our focus continues to be on driving volumes, while managing margins and costs effectively.

Our order books reflect a healthy forward trend across leisure and business segments, and we are bullish about growth in the quarters ahead.”

About Thomas Cook (India) Limited: Set up in 1881, Thomas Cook India) Limited. (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services and Visa Services. It operates leading B2C and B2B brands including Thomas Cook, SOTC, TCI, SITA, Asian Trails, Allied TPro, Australian Tours Management, Desert Adventures, Luxe Asia, Travel Circle International Limited (TCI 勝景), Sterling Holiday Resorts Limited, Distant Frontiers, TC Tours, Digiphoto Entertainment Imaging (DEI), Go Vacation, Private Safaris East & South Africa

As one of the largest travel service provider networks headquartered in the Asia-Pacific region, The Thomas Cook India Group spans 28 countries across 5 continents

TCIL has been felicitated with The Best Tour Operator at India Travel Awards North 2023, winner of the Corporate Citizen Award (Travel Tourism & Hospitality) at the Corporate Citizen Conclave & Award 2023, The Outbound Tour Operator of the Year 2022 & 2019 at the SATTE Awards, IAMAI India Digital Awards 2022, CNBC-TV18 & ICICI Lombard India Risk Management Award – Travel & Leisure Category 2022 & 2021, CIO100 Award for digital innovation 2022, ‘Innovation in Omni-experience’ Award at International Data Corporation’s (IDC) Industry Innovation Awards 2021, The Best Travel Agency – India at TTG Travel Awards 2019, The Best Outbound Tour Operator at the Times Travel Awards 2019 & 2018, Silver award for Asia’s Best Integrated Report (First Time) category at the Asia Sustainability Reporting Awards 2019-2021, Best Risk Management-Framework & Systems at the India Risk Management Awards 2019; The French Ambassador’s Award for Exemplary Achievements in Visa Issuance 5 years in a row and the Condé Nast Traveller – Readers’ Travel Awards from 2011 to 2019.

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