Thomas Cook India Group registers a PBT of Rs. 2,842 Mn for 9M FY24 against Rs. 262 Mn for full year of FY23

9M FY24 Consolidated EBITDA increased by 132% YoY to Rs. 4,518 Mn

Q3 FY24 Consolidated EBITDA increased by 83% YoY to Rs. 1,642 Mn

Q3 FY24 Consolidated PBT increased by 258% YoY to Rs. 1,068 Mn

Key Performance Highlights (9M FY24):

·     Thomas Cook (Standalone) PBT at Rs. 1,256 Mn Vs Rs. 188 Mn - growth of 7x

·     Sterling Holidays PBT at Rs. 899 Mn Vs Rs. 515 Mn - growth of 75%

·     Turnaround of overseas travel businesses: EBITDA at Rs. 529 Mn Vs Rs. 90 Mn - growth of 5x 

·     Consolidated Basic Earnings per share increased from Rs. 0.30 to Rs. 4.36

Key Performance Highlights (Q3 FY24):

·     EBIDTA Margin improvement by 270 bps to 8.46%

·     Thomas Cook (Standalone) PBT at Rs. 159 Mn in Q3 FY24 Vs a loss of Rs. 64 Mn in Q3 FY23  

·     Sterling Holidays PBT at Rs. 343 Mn in Q3 FY24 Vs Rs. 197 Mn in Q3 FY23 - growth of 74%

·     Overseas travel businesses EBITDA at Rs. 336 Mn in Q3 FY24 Vs Rs. 239 Mn in Q3 FY23 - growth of 40% 

Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited said,  “The Thomas Cook India Group delivered another strong performance - driven by buoyancy in consumer demand for travel which is no longer seasonal. This is reflected in the McKinsey Report that forecasts doubling of overall consumption by 2030. Backed by high travel propensity, the report also highlights India’s growth potential - from 13 million outbound trips in 2022 to 80-90 million in 2040. The proposed policy around money changing that has been circulated by RBI is likely to bring consolidation in the industry. Additionally, the proposition to permit AD II to undertake trade transactions up to a specified limit will enable more participation and better access to customers. The focus across the Group will remain firmly on margins, productivity enhancement via technology and benefits of cost re-engineering, while ensuring best-in-industry customer experience.”