Thomas Cook India sees double-digit growth in strong quarter

Madhavan Menon, managing director of Thomas Cook India
Madhavan Menon, managing director of Thomas Cook India

Thomas Cook India has posted a strong set of results for the quarter ending 31 March 2015, with double-digit growth in a range of areas.

The company announced total income of INR8.77 billion (US$137.6m), up 82% year-on-year, and pre-tax earnings (EBITDA) of INR474m, 63% higher than the same period in 2014.

During the quarter, Thomas Cook India’s outbound business recorded growth of 53% in terms of sales, with revenue rising 40%. The company’s corporate travel business saw a 13% increase in revenue, while MICE operations achieved a 44% rise in sales and revenue growth of 25%.

The company’s domestic business reported a 73% increase in passengers and 104% in sales.

“Given that this is the traditional low season for our largest travel related businesses… the consolidated results are indeed noteworthy. With our forward bookings for the summer already up by 30%, and a host of new businesses launched… we are confident of a very strong season ahead for the Thomas Cook India Group,” said Madhavan Menon, the company’s managing director.

Following the impressive results, Thomas Cook India’s board proposed a final dividend of 50%, compared to the 37.5% declared in the previous year.

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