Highest Ever Profits for Thomas Cook India

Thomas Cook India has announced its Q4 financial year 2023 and fiscal year 2024 financial results which showcase the company earning its highest ever consolidated profit before tax of ₹3499 million.

For the company, the consolidated profit before tax for the fiscal year stood at ₹3499 million in comparison to last year’s ₹262 million. The EBITDA (earning before interest, taxes, depreciation, and amortisation) was noted to be at ₹5718 million against last year’s ₹2414 million. Thomas Cook has granted the credit for the profits to all its different sectors performing well independently. For its travel services wing, the company saw a growth of 89% in sales this financial year, whereas MICE also grew by 46% in comparison to last year. The hospitality wing, Sterling Holidays, also saw great sales numbers with an increase of 24%, making the company debt-free. Because of the same, the cash reserves of the company also increased to ₹158 million at the closing of the financial year.

Celebrating the same, Madhavan Menon, Executive Chairman, Thomas Cook India, said, “Thomas Cook India Group has delivered record profits for both the quarter and FY2024. What makes this even more special is that every business and geography has contributed to the profitability. My appreciation and congratulations to all our teams, customers, partners, and shareholders for making this possible. I am also glad to announce the dividend of ₹0.60 per ₹1 share that is inclusive of a special dividend of ₹0.20 per share, to our valued shareholders. Personally, I believe the Group’s results reflect the buoyancy in the Indian and global travel services sector and therefore, our robust forward bookings, reflecting an 18% growth vs last year is very encouraging.”