Posted inOperations

Impressive Comeback: Thomas Cook India reports record operating profits in FY23

...Thanks to business segment recovery

by Staff Writer

The highlights of Thomas Cook’s FY23 Report are as under: 

  • The Group’s Operating EBITDA grew significantly to Rs. 2.7 Bn for FY23 against a loss of Rs. 1.2 Bn in FY22. Growth driven by Foreign Exchange & Travel Businesses (Thomas Cook); Hospitality (Sterling Holidays)
  • Highest Operating EBITDA & Operating PBT for Thomas Cook in a decade. Operating EBITDA at Rs. 1.2 Bn for FY23; Operating PBT at Rs. 560 Mn Vs a loss of Rs. 1.14 Bn in FY22
  • Sterling Holidays registered Highest EBITDA & PBT since inception: EBITDA at Rs 1.1 Bn for FY23; PBT at Rs. 659 Mn Vs Rs. 436 Mn in FY22·     
  • Consolidated Total Income from Operations grew YoY by 163% in FY23 to Rs. 51 Bn
  • Robust growth across all business segments in FY23; Income from operations growth (YoY): Forex: 123%, Travel: 248%, Hospitality (Sterling Holidays): 36%, Digital Imaging Solutions (DEI): 72%
  • Focus on Cost Optimization saw annualized savings of Rs.3.71 Bn for FY23, representing a 20% reduction in costs Vs FY20 (Pre-Pandemic). The Group maintains a strong financial position, with Cash & Bank balances of Rs. 10.1 Bn as of March 31, 2023Highlights for Q4 FY23
  • The Group’s Operating EBITDA at Rs. 518 Mn Vs Rs. 239 Mn in FY22·      Standalone Operating EBITDA for TCIL at Rs. 205 Mn Vs Rs. 28 Mn for Q4 FY22·      For Q4 FY23 Consolidated Total Income from Operations grew by 150% YoY to Rs. 13.2 Bn.
Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Limited.

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. 2.7 Bn Vs a loss of Rs. 1.2 Bn in FY22. Total Income from Operations also grew annually by 163% in FY23 to Rs 51 Bn. This commendable performance was led by Thomas Cook India – registering its highest Operating EBITDA & Operating PBT in a decade & Sterling Holidays – recording its highest EBITDA & PBT since the company’s inception.”Our focus through 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 and geographies, we are confident of a strong performance in the coming quarters as well.”