Thomas Cook India Group reports remarkable growth in FY24

Friday, February 2, 2024

Thomas Cook India Group has demonstrated exceptional financial performance in the first nine months (9M) of fiscal year 2024 (FY24), with a Profit Before Tax (PBT) of Rs. 2,842 Mn, marking a substantial increase from Rs. 262 Mn recorded for the entire FY23. This notable achievement underscores the company’s resilience and strategic initiatives amidst dynamic market conditions.

The Consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for 9M FY24 surged by 132% year-on-year (YoY) to reach Rs. 4,518 Mn, while Q3 FY24 witnessed an 83% YoY increase in EBITDA, amounting to Rs. 1,642 Mn. Moreover, the Consolidated PBT for Q3 FY24 soared by an impressive 258% YoY to Rs. 1,068 Mn.

Key highlights of the performance for 9M FY24 include substantial growth in PBT across various segments: Thomas Cook (Standalone) reported a PBT of Rs. 1,256 Mn, Sterling Holidays achieved Rs. 899 Mn, and overseas travel businesses witnessed a remarkable turnaround, posting an EBITDA of Rs. 529 Mn.

In the hospitality sector, Sterling Holidays demonstrated robust growth, with room revenues increasing by 18% and Food & Beverage (F&B) revenues by 15% in Q3 FY23. Additionally, the Digital Imaging Solutions segment recorded positive strides with a focus on digitalization and network expansion.

The Group’s strategic initiatives include the integration of Sterling Resort properties into Thomas Cook and SOTC websites, expanding its India network with franchise outlets, and receiving accolades such as the ‘MICE Travel Operator of the Year’ at The Economic Times Travel & Tourism Annual Awards.

Mr. Madhavan Menon, Executive Chairman of Thomas Cook (India) Limited, expressed optimism about the buoyancy in consumer demand for travel, highlighting India’s growth potential and the Group’s commitment to enhancing customer experience while focusing on margins and productivity.

As the travel industry continues to evolve, Thomas Cook India Group’s resilient performance and strategic vision position it as a leader in the omnichannel travel space, poised for sustained growth and innovation.

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