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Thomas Cook‘s Q1 FY25 highlights robust growth, strong financials, and strategic expansions across travel, forex, hospitality, and digital imaging sectors.
Consolidated Gross & EBITDA Margins Sustained
Key Highlights (Q1 FY25):
Consolidated Q1 FY25 PBT: Rs. 1073 Mn* compared to Rs. 914 Mn, marking a 17% growth YoY.
Thomas Cook (Standalone) PBT: Grew by 29% YoY to Rs. 740 Mn* from Rs. 574 Mn.
Overseas Destination Management Companies: Achieved a turnaround with EBITDA at Rs. 28 Mn versus a loss of Rs. (44) Mn in Q1 FY24.
Strong Financial Position: The group added Rs. 3.49 Bn during the quarter, with Cash & Bank balances reaching Rs. 18.67 Bn as of June 30, 2024.
CRISIL Rating Upgrade: Thomas Cook India’s Rating Outlook upgraded to ‘Positive’, reaffirming Ratings at CRISIL AA-/Positive & CRISIL A1+.
Impact on PAT: The PAT for the quarter was affected by higher tax liabilities.
Travel Services:
Leisure Travel: Achieved 21% sales growth YoY for Q1 FY25.
MICE: Reported 20% sales growth for Q1 FY25, excluding one-time contracts in Q1 FY24.
Corporate Travel: Transactions grew by 31% for Q1 FY25.
India DMS: Sales growth of 58% YoY for Q1 FY25.
Overseas DMS: Sales growth of 26% YoY for Q1 FY25.
Forex:
EnterpriseFX Card: Launched India’s first eco-friendly prepaid corporate card.
Retail Growth: Driven by overseas education (21% YoY) and holiday forex (10% YoY) for Q1 FY25.
Card Loads: Increased by 13% YoY.
Hospitality (Sterling Holidays):
Sales Growth: Achieved 9% YoY for Q1 FY25.
Occupancy: Maintained at 69% for Q1 FY25.
New Resorts: Launched in Udaipur (3rd in Udaipur; 6th in Rajasthan) and Dehradun (6th in Uttarakhand).
Debt-Free Status: Sterling remains a debt-free company with a strong cash position of over Rs. 2000 Mn.
Impact on PAT: The PAT for the quarter was affected by higher tax liabilities.
Digital Imaging Solutions (DEI):
New Partnerships: Signed 13 new partnerships in UAE, Malaysia, Indonesia, Maldives, India, Bahrain, and Macau for Q1 FY25.
Renewals: Renewed 8 key partnerships in Maldives, Indonesia, Thailand, UAE, and Egypt.
Operational Launches: Initiated 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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