Thomas Cook eyes 8-12% revenue growth in FY25

livemint.com:

Mint in an interview. “Clearly, from a growth perspective, I don't see there is going to be a problem. We will see a steady state of 8-12% top-line growth. We are hoping that the summer of 2024 will actually be much better than the summer of 2023.

We expect the recovery to get back to pre-pandemic or slightly higher than the pre-pandemic as far as the long-haul market is concerned," Iyer said. The company reported a total income of ₹5.85 billion in the September quarter, 50% up on year and the net profit for the quarter stood at ₹254 million, a 82% jump from the year-ago period of ₹140.2 million. On a consolidated level, the Thomas India Group along with its 69 subsidiaries and joint ventures posted a net profit of ₹515 million as against a net profit of ₹1.5 million a year ago and the topline rose over 51% on year to ₹18.7 billion for Jul-Sep period.

“We have seen a huge improvement in profit in travel segment. That has affected the overall performance of the group in the quarter. There has been margin expansion as well across all our segments.

We expect this momentum to continue in the quarters to come," Iyer said. While the September quarter is typically a weak one, the company has witnessed a strong comeback on the retail side with a recovery in long-haul travel compared with the June quarter. In fact, the recovery in long-haul also helped in the foreign exchange business of the company as its penetration rate of travel customers with needs for forex is at 75%.