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Earlier this month, Thomas Cook India released its September quarter results, which showed that its grew more than 16 times to ₹76.6 crore from ₹4.9 crore in same period last year, driven by sharp turnaround in travel businesses of Thomas Cook & SOTC, Foreign Exchange & Sterling Holidays. The group’s EBITDA grew significantly to ₹130.8 crore for Q2 FY24 against ₹54.8 crore compared to the same quarter last year. The total revenue from operations climbed 51.5% year-on-year to ₹1,871.3 crore in Q2 FY24.
“The strong delivery across the Group, spanning Foreign Exchange, Travel (leisure, business & MICE) as well as Sterling Holidays and DEI is also testament to the teams, robust, efficient processes and industry leading service quality,” said Madhavan Menon, Executive Chairman, Thomas Cook (India), on Q2 results.
“With a 36% growth YoY in our Leisure segment primarily driven by Thomas Cook & SOTC, and forward bookings for our Travel Services up by 32%, for the festive season and beyond, our expectation is to close the year on a strong note. Our sustained focus across the Group will remain on technology enhancements for improved speed & productivity with a special emphasis on elevating customer experience,” he added.
As of September 30, 2023, the group maintained a healthy liquidity with cash and bank balances of ₹1,340 crore.
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