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Travel support services company Thomas Cook (India) announced Q1FY24 results:
- The group’s operating EBITDA grew significantly to Rs 1,474 million for Q1FY24 against Rs 555 million compared to Q1FY23. Growth was driven primarily by foreign exchange & travel businesses (Thomas Cook and SOTC); hospitality (Sterling Holidays)
- Consolidated operating PBT grew over 27 times in Q1FY24 at Rs 914 million Vs Rs 33 million in Q1FY23
- Standalone operating EBITDA at Rs 736 million for Q1FY24 Vs Rs 286 million in Q1FY23, operating PBT at Rs 574 million Vs Rs 115 million in Q1FY23
- Sterling Holidays registered EBITDA at Rs 475 million for Q1FY24 Vs Rs 411 million in Q1FY23; PBT at Rs 358 million Vs Rs 283 million in Q1FY23
- Strong order book, signaling robust forwards for Q2FY24. Holidays at 116%, MICE 113% Vs Q2FY23
- The group continues to maintain a strong financial position, with cash & bank balances of Rs 14,090 million as of June 30, 2023
Madhavan Menon, Executive Chairman, Thomas Cook (India), 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 million Vs Rs 555 million for Q1FY23. 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.”
He added, “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.”
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