Thomas Cook (India) Ltd.
Q4FY23 Quarterly & FY23 Annual Result Announced for Thomas Cook (India) Ltd.
Travel Support Services company Thomas Cook (India) announced Q4FY23 & FY23 results:
- The Group’s Operating EBITDA at Rs 518 million Vs Rs 239 million in Q4FY22
- Standalone Operating EBITDA for TCIL at Rs 205 million Vs Rs 28 million for Q4FY22
- For Q4FY23 Consolidated Total Income from Operations grew by 150% YoY to Rs 13.2 billion
- The Group’s Operating EBITDA grew significantly to Rs 2.7 billion for FY23 against a loss of Rs 1.2 billion in FY22. Growth driven by Foreign Exchange & Travel Businesses (Thomas Cook); Hospitality (Sterling Holidays)
- Highest Operating EBITDA & Operating PBT for Thomas Cook in a decade. Operating EBITDA at Rs 1.2 billion for FY23; Operating PBT at Rs 560 million Vs a loss of Rs 1.14 billion in FY22
- Sterling Holidays registered Highest EBITDA & PBT since inception: EBITDA at Rs 1.1 billion for FY23;
- PBT at Rs 659 million Vs Rs 436 million in FY22
- Consolidated Total Income from Operations grew YoY by 163% in FY23 to Rs 51 billion
- Robust growth across all business segments in FY23; Income from operations growth (YoY): Forex: 123%, Travel: 248%, Hospitality (Sterling Holidays): 36%, Digital Imaging Solutions (DEI): 72%
- Focus on Cost Optimization saw annualized savings of Rs 3.71 billion for FY23, representing a 20% reduction in costs Vs FY20 (Pre Pandemic). The Group maintains a strong financial position, with Cash & Bank balances of Rs 10.1 billion as of March 31, 2023
Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) said, “I am delighted to share the strong results for FY23 for the Group, with a record Operating EBITDA at Rs 2.7 billion Vs a loss of Rs 1.2 billion in FY22. Total Income from Operations also grew annually by 163% in FY23 to Rs 51 billion. This commendable performance was led by Thomas Cook India registering its highest Operating EBITDA & Operating PBT in a decade & Sterling Holidays ? recording its highest EBITDA & PBT since the company’s inception.
Our focus through the year has been on driving trading volumes, margin expansion, improved productivity via digital solutions and effective cost optimization measures to achieve this. Given the strong forward booking funnels, across business segments & geographies, we are confident of a strong performance in the coming quarters as well.”