Thomas Cook India Reports 17% YoY PBT Growth in Q1 FY25

Thomas Cook (India) Limited has announced its financial results for the quarter ended June 2024, reporting a Group Profit Before Tax (PBT) of ₹1,073 million for Q1 FY25, reflecting a 17% growth compared to Q1 FY24. Consolidated gross and EBITDA margins were sustained during the quarter.

Q1 FY 2025 Financial Highlights 

The standalone PBT of Thomas Cook grew by 29% year-on-year, reaching ₹740 million, up from ₹574 million in the same period last year. The company’s overseas destination management companies showed a turnaround, with an EBITDA of ₹28 million, compared to a loss of ₹44 million in Q1 FY24.

The Group has maintained a strong financial position, adding ₹3.49 billion during the quarter, with cash and bank balances standing at ₹18.67 billion as of June 30, 2024. CRISIL has upgraded Thomas Cook India’s Rating Outlook to ‘Positive’ while reaffirming the company’s ratings at CRISIL AA-/Positive and CRISIL A1+. However, the profit after tax (PAT) for the quarter was impacted due to a higher tax liability.

Other Key Business Updates

Focus on Digitalisation

The Group’s Digital First strategy continued to gain momentum. This includes the integration of New Distribution Capability (NDC), ensuring visibility of all fare levels across a range of international airlines.

Additionally, Thomas Cook launched TC Edge and SOTC Holiday Rewards, a loyalty program with a user-friendly interface for earning and redeeming points online for flights, hotels, and holiday bookings.

The company has also partnered with major educational institutions and counsellors, such as SP Jain University and Uni Scholar, to provide comprehensive forex services. These services include end-to-end digital solutions for study and university fee remittances through partner digital platforms.

India Network Expansion

In terms of network expansion within India, new franchise outlets for leisure travel were opened by Thomas Cook and SOTC Travel in Pune, Mumbai, and Jaipur, as well as in Mumbai, Vijayawada, Jodhpur, and Kolkata, respectively. For foreign exchange services, new franchise outlets were opened in Bhuj, Lucknow, Faridabad, Delhi, Bengaluru, Jaipur, and Kolkata.

Commenting on the financial performance, the Executive Chairman of Thomas Cook (India) Limited, Mr Madhavan Menon, said, “Thomas Cook India has delivered a good all-round performance for Q1 FY25 reporting a consolidated PBT of ₹1073 million (excluding non-operating MTM gains) that reflects a healthy 17% growth over Q1 FY24. This has been a result of solid performance across our businesses, despite multiple headwinds during the period, including the Indian General elections – that delayed travel plans & heatwaves across most of the country.”

He further stated, “Our forward booking funnel indicates that we may have the benefits of an extended holiday season and are well poised to deliver sustainable growth in the quarters ahead.”

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