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Thomas Cook India hits record-breaking profit milestone in FY25 results.Commenting on the results, Madhavan Menon – Executive Chairman, Thomas Cook (India) Limited said “Thomas Cook India has delivered another robust performance to wrap up FY25, reporting its highest ever consolidated PBT of Rs. 3,784 Mn. PBT grew an impressive 46% in Q4 FY25 and 10% for the FY25.

The FY25 results were driven by strong all-round delivery – with Travel Services EBIT growing by 29% aided by a strong turnaround of Global DMS Companies; Forex growing by 21%.”

Mahesh Iyer – Managing Director & CEO Thomas Cook (India) Limited added, “I am proud of the strong all-round performance of the teams across businesses & geographies for FY25. Our focus will remain on enhancing customer experience, digital transformation and cost optimisation. Looking ahead, we remain cautiously optimistic – given recent geopolitical events and the potential effects of global trade wars, etc.”

Business Segment-wise Performance:

1.Foreign Exchange

  • Growth in Income from Operation: 14% y-o-y for Q4 FY25; 8% y-o-y for FY25
  • App bookings: 2x growth y-o-y for Q4 FY25
  • Forex via WhatsApp: 2000 interactions daily; 5x growth in bookings for Q4 FY25; 400+ sales bookings for Q4 FY25
  • Opened new outlets: Balewadi – Pune (owned); Franchise outlets in Chromepet – Chennai and Delhi-NCR

2.Travel Services

  • Corporate Travel
  • Turnover grew by 10% y-o-y for FY25; 2% for Q4 FY25
  • 11 corporate accounts acquired across sectors like IT, Media, Pharma, FMCG, Manufacturing, BSFI
  • 3 new large corporate accounts implemented for Q4 FY25
  • 50% touchless transactions led by the adoption of the corporate self-booking tool in Q4 FY25
  • Non-Air business has grown over 29% y-o-y; Hotel business grown by 52% y-o-y for FY25
  • Meetings-Incentives-Conferences-Exhibitions (MICE)
  • Managed over 150 groups, including mega groups of 500 to over 1000 delegates per group. Key international destinations: Europe, Australia, South-East Asia, UK, UAE, Azerbaijan, Malaysia; Domestic: Goa, Jaipur, Delhi, Kolkata
  • Successfully managed the National Games 2025 in Uttarakhand as the exclusive partner for accommodation, catering and transport, managing a 20,000-member contingent, including 10,000+ athletes, 5,000 support staff and 3,000 dignitaries
  • Championed the ‘Green Games’ initiative with the planting of over 1600 trees and sustainable practices
  • Successfully managed the Khelo India Para Games 2025 in Delhi as the exclusive partner for accommodation, catering and transport for 1,300+ para-athletes and 1,000+ support staff across three venues, including provision of 8,000+ room nights with para-special accessibility requirements and 35,000+ meals served through live kitchens
    • Delivered 2,000+ coaches and small vehicles with para-special accessibility, alongside 24×7 support through a dedicated control room and 11 city arrival points, ensuring seamless athlete experiences
  • Leisure Travel
  • Sales growth of 20% y-o-y for FY25; 19% for Q4 FY25
  • Operated significant volumes (group and personalized products) for Maha Kumbh; premium accommodation and exclusive guided darshans
  • Successfully operated tours for the Japan Cherry Blossom season; Unique culinary experiences included – Indian chefs flown down to the destination
  • Expanded Domestic & Short-haul cruise portfolio; ocean and river cruises (international) continued to perform well
  • Experiential travel witnessed high demand – including Northern Lights, events (Rio Carnival) and Polar cruises (Antarctica), Jan to March migration (Kenya)
  • Destination Management Services (DMS) Network
  • India DMS: Turnover grew by 21% y-o-y for FY25; 17% for Q4 FY25, in line with the increase in foreign tourist arrivals
  • Overseas DMS: Sales grew by 30% y-o-y for Q4 FY25 and 23% y-o-y in FY25
  • Middle East – Desert Adventures: During the quarter sales saw a healthy increase led by strong performance in the MICE segment. FIT business in Q4 FY25 remained subdued, primarily due to lower contributions from CIS countries. However, this was more than offset by MICE segment, led by Gulf Dunes, which secured significant bookings, including major events such as those for Amway (with topline of Rs 1078 Mn) and BMW. Additionally, the entity’s luxury travel segment, Arabian Lux, and the OTA business showed encouraging growth, contributing positively to the quarter’s overall performance
  • Asia Pacific – Asian Trails: Delivered positive growth in Q4 FY25, primarily driven by contributions from Thailand, Vietnam and Australia
  • USA – Allied TPro: While sales were subdued during the quarter, however it saw improved margin primarily driven by a mix change towards higher Groups and VIP segments.
  • Private Safaris
  • South Africa: Q4 FY25 showed steady y-o-y performance, with improved contribution margins driven by upselling efforts within the Groups and MICE segments
  • East Africa: The performance in Q4 FY25 declined sharply, primarily due to the absence of business from FTI following its insolvency. The company continues to make progress on strengthening business from existing partners and by adding new business to compensate for the loss witnessed
  • South Africa: Q4 FY25 showed steady y-o-y performance, with improved contribution margins driven by upselling efforts within the Groups and MICE segments
  • East Africa: The performance in Q4 FY25 declined sharply, primarily due to the absence of business from FTI following its insolvency. The company continues to make progress on strengthening business from existing partners and by adding new business to compensate for the loss witnessed

3. Leisure Hospitality (Sterling Holidays)

  • Sustained ARR despite the large influx of new inventory
  • Guest ratio of non-members grew 75% (up by 6% y-o-y)
  • Inventory grew to 61 resorts and 3,254 rooms from 48 and 2,672 in FY24 respectively ; room supply increase of 22% – one of the highest among listed companies
  • 20 additional resorts (900 rooms) in the pipeline in the next 15-18 months
  • Trip Advisor Traveler’s Choice Awards: Sterling Kanha won Best of the Best for 3rd consecutive year; 30 Resorts awarded Traveler’s Choice Awards – 10 resorts won it for the 3rd consecutive year, 8 resorts for the 2nd consecutive year
  • Sterling continues to be a debt-free company
  • ESG initiatives towards sustainable tourism also contributes to savings

4.Digital Imaging Solutions (DEI)

  • 10 partnerships signed across key markets including the UAE, Maldives, India, China, Hong Kong, Malaysia and Indonesia
  • 15 partnerships renewed in UAE, Maldives, Macau SAR, Malaysia and Indonesia
  • 3 partnerships operationally launched in India, Malaysia and Indonesia

Other Key Business Updates

  • Focus on Digitalization
  • Launched TACY: Generative AI Chatbot – enhanced customer engagement with intelligent, real-time, personalized conversations, seamless CRM integration, and continuous learning capabilities
  • Enhanced B2B MICE operations with MICE Customer Service App (CSS) and Tour Manager app, streamlining trip management, documentation and real-time updates
  • India Network Expansion

Leisure Travel: 7 outlets across Thomas Cook India and SOTC opened in Q4 FY25 in Bhubaneswar, Agra, Moradabad, Rajahmundry, Udaipur, Dalhousie and Balewadi

  • Awards and Partnerships
  • SOTC Travel awarded MICE Tour Operator of the Year (Domestic & Outbound) at SATTE Awards 2025
  • Thomas Cook India signed partnerships with Moscow Tourism and Georgia Tourism; Thomas Cook India & SOTC Travel signed multiple partnerships: with Korea Tourism, Sabah Tourism (Malaysia) and New Zealand Tourism