Crisil upgrades Thomas Cook India’s credit rating
₹50.91 billion in fiscal 2023 from ₹19.31 billion – owing to the strong resurgence in demand and robust recovery in all business segments. “Revenue witnessed sustained momentum across segments in the first quarter of fiscal 2024 as well, with an increase of 94% yoy to ₹18.98 billion.
Driven by a strong travel appetite, TCIL has also witnessed record growth as operating profits (operating EBITDA) tripled in Q1 FY24 to ₹1.47 billion ," it added. TCIL was also able to maintain its margins and return on capital employed (ROCE) as it had structural reductions in costs, the company said.
“Operating margins, having surpassed pre-pandemic levels at 5.3% in fiscal 2023, improved further to 6.5% during the first quarter of fiscal 2024," it said. These margins are expected to remain at similar levels over the medium term as benefits from these structural cost-saving measures will continue to accrue, TCIL added."Exciting news! Mint is now on WhatsApp Channels
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