Thomas Cook India Q1 Results: Firm reports multifold jump in profit to Rs 71 crore
Thomas Cook India reported an income from operations of Rs 1899 crore in its consolidated results for the quarter ended June, up from Rs 976 crore in the corresponding period of the previous fiscal. The company reported a profit of Rs 71 crore for the quarter ended June, up from Rs 6 crore in the corresponding period of the last financial year.
The group’s operating EBITDA grew to Rs 147.4 crore for quarter one of financial year 2024 against Rs 55.5 crore in the same quarter last year.Thomas Cook India said the growth was driven primarily by its foreign exchange and Travel Businesses (Thomas Cook and SOTC) and Hospitality (Sterling Holidays). Sterling Holidays registered an EBITDA of Rs 47.5 crore for the quarter versus Rs 41 crore in quarter one of the last financial year.
The company said the group continues to maintain a strong financial position, with cash and bank balances of Rs 1409 crore as of June 30.Thomas Cook India said it registered a leisure travel sales growth of 137% year on year, while its corporate travel turnover grew by 25% year on year. The forex business saw a 60% year on year growth in turnover.
Madhavan Menon, executive chairman of Thomas Cook India said the first quarter of financial year 2024 has seen yet another 'very strong' performance by the group with operating EBITDA at Rs 147.4 crore versus Rs 55.5 crore for quarter one last year. «The robust performance for quarter one, a traditionally strong quarter seasonally, was driven primarily by our foreign exchange and travel businesses (across Thomas Cook India & SOTC) and Sterling Holiday Resorts,” he said.
“Our focus continues to be on driving volumes, while managing margins and costs effectively. Our order books reflect a healthy forward trend
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