In the first quarter of FY24, Thomas Cook India Ltd. reported a 166 percent rise in the Group’s operating EBITDA and a 27-fold increase in consolidated operating profits. Compared to INR 555 Mn for the same period previous year, the group recorded INR 1,474 Mn for Q1 FY24. As opposed to INR 33 Mn in Q1 FY23, the company earned INR 914 Mn in consolidated operational profits this quarter.
TCIL subsidiary Sterling Holidays had a 16 percent increase in profits this quarter, from INR 411 Mn in Q1 2017 to INR 475 Mn. In Q1 of FY24, the company reported EBITDA of INR 475 Mn.
The Foreign Exchange and Travel Businesses of TCIL and SOTC are principally responsible for the Group’s financial performance, with all businesses exhibiting double-digit growth.
The executive chairman of Thomas Cook (India) Limited, Madhavan Menon, commented on this by saying, “On the tail of a remarkable performance for FY23, the first quarter of FY24 has seen again another very excellent performance by the TCIL Group with Operating EBITDA at INR 1,474 Mn Vs INR 555 Mn for Q1 FY23. Our foreign exchange and travel businesses (across Thomas Cook India & SOTC) and Sterling Holiday Resorts were the main drivers of Q1’s good performance, a typically strong seasonal quarter.
“Our focus continues to be on driving volumes, while effectively managing margins and costs,” he continued. The leisure and business areas of our order books show a robust forward trend, and we are optimistic about development in the upcoming quarters.
Source- Travel biz