Key Highlights (Q1 FY25):
Consolidated Q1 FY25 PBT of Rs. 1073 Mn* Vs Rs. 914 Mn; 17% growth YoY
Thomas Cook (Standalone) PBT growth of 29% YoY at Rs. 740 Mn* Vs Rs. 574 Mn
Overseas Destination Management Companies reflect turnaround with EBITDA at Rs. 28 Mn Vs a loss of Rs. (44) Mn in Q1 FY24
The Group continues to maintain a strong financial position, adding Rs. 3.49 Bn during the quarter, with Cash & Bank balances at Rs. 18.67 Bn as of June 30, 2024
CRISIL upgrades Thomas Cook India’s Rating Outlook to ‘Positive’. Reaffirms Company’s Ratings at CRISIL AA-/Positive & CRISIL A1+
The PAT for the quarter has been impacted on account of a higher tax liability
Travel Services
Leisure Travel: Growth in sales 21% YoY for Q1 FY25
MICE: 20% Sales growth for Q1 FY25 (excluding one time contracts in Q1 FY24)
Corporate Travel transactions grew by 31% for Q1 FY25
India DMS: 58% Sales growth YoY for Q1 FY25
Overseas DMS: 26% Sales growth YoY for Q1 FY25
Forex
Launched EnterpriseFX card - India’s first eco-friendly prepaid corporate card
Retail growth: led by overseas education 21% YoY; holiday forex 10% YoY for Q1 FY25
Card loads increased 13% YoY
Hospitality (Sterling Holidays)
Growth in sales: 9% YoY for Q1 FY25
Occupancy at 69% for Q1 FY25
New resorts launched in Q1: Udaipur (3rd in Udaipur; 6th in Rajasthan) and Dehradun (6th in Uttarakhand).
Sterling continues to be debt- free company; with a strong cash position of over Rs. 2000 Mn
The PAT for the quarter has been impacted on account of a higher tax liability
Digital Imaging Solutions (DEI)
Q1 FY25: 13 new partnerships signed (UAE, Malaysia, Indonesia, Maldives, India, Bahrain, Macau)
Renewal of 8 key partnerships in Maldives, Indonesia, Thailand, UAE and Egypt
Operational launch of 10 partnerships in UAE, Saudi Arabia, Singapore, Indonesia and India
Mr. Madhavan Menon, Executive Chairman, Thomas Cook (India) Limited said, “Thomas Cook India has delivered a good all round performance for Q1 FY25 reporting a consolidated PBT of Rs. 1073 Mn (excluding non-operating MTM gains) that reflects a healthy 17% growth over Q1 FY24. This has been a result of a 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. 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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