Thomas Cook India's Q4 total income rises 150% to Rs 1,300 crore

Thomas Cook (India) Limited (TCIL)'s consolidated total income from operations for the March quarter of the previous financial year Q4FY23 grew by 150 per cent year-on-year (YoY) to Rs 1,320 crore, the company said in a media release.

The company's operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) at Rs 51.8 crore in Q4FY23 as aginst Rs 23.9 crore in Q4FY22. The standalone operating Ebitda for TCIL came at Rs 20.5 crore in Q4FY23 as against Rs 2.8 crore for Q4FY22. 

The Group’s operating Ebitda grew significantly to Rs 270 crore for the full financial year 2022-23 (FY23) against a loss of Rs 120 crore in FY22. The growth was driven by foreign exchange & travel businesses (Thomas Cook), hospitality (Sterling Holidays).

Sterling Holidays registered highest Ebitda and profit before tax (PBT) since inception, where Ebitda came in at Rs 110 crore for FY23, PBT at Rs 65.9 crore vs Rs 43.6 crore in FY22.

Madhavan Menon, chairman and managing director, Thomas Cook (India) Limited said, “I am delighted to share the strong results for FY23 for the Group, with a record operating Ebitda at Rs 270 crore vs a loss of Rs 120 crore in FY22. Total income from operations also grew annually by 163 per cent in FY23 to Rs 5,100 crore. This commendable performance, was led by Thomas Cook India - registering its highest operating Ebitda & operating profit before tax (PBT) in a decade & Sterling Holidays - recording its highest Ebitda & PBT since the company’s inception. Our focus throughout the year has been on driving trading volumes, margin expansion, improved productivity via digital solutions and effective cost optimization measures to achieve this. Given the strong forward booking funnels, across business segments & geographies, we are confident of a strong performance in the coming quarters as well.”    

In the travel services segment in FY23, leisure travel sales grew by 235 per cent YoY, showing a recovery of 42 per cent against pre-pandemic levels. Corporate travel turnover grew by 213 per cent YoY.