Thomas Cook India Q1 results: Consolidated net profit up 27% to Rs 147 cr

Thomas Cook India Ltd on Thursday reported a 27-fold increase in consolidated operating profits and a 166 per cent jump in the group's operating EBITDA (earnings before interest, taxes, depreciation, and amortization) in the first quarter of FY24. The group reported Rs 147.4 crore for Q1FY24 against Rs 55.5 crore for the corresponding period last year.

The company reported Rs 91.4 crore in consolidated operating profits this quarter as against Rs 3.3 crore in Q1FY23.

Profits of Sterling Holidays, a subsidiary of TCIL, soared 16 per cent this quarter to Rs 47.5 crore against Rs 41.1 crore in Q1 last year. The company reported an EBITDA of Rs 47.5 crore in Q1FY24.

The group's financial results are primarily driven by the foreign exchange and travel businesses of TCIL and SOTC, with all businesses showing double-digit growth, said the company.

Madhavan Menon, executive chairman, Thomas Cook (India) Limited, said, "The robust performance for Q1 – a traditionally strong quarter seasonally, was driven primarily by our foreign exchange and travel businesses (across Thomas Cook India & SOTC) and Sterling Holiday Resorts."

"Our focus continues to be on driving volumes, while managing margins and costs effectively. Our order books reflect a healthy forward trend across leisure and business segments, and we are bullish about growth in the quarters ahead," he added.