DELHI, 16 MAY 2025: Thomas Cook India shattered its financial performance records, reporting its highest-ever consolidated profit before tax of INR3,784 million in its FY25
Total income from operations grew 12% year-on-year to INR82,815 million.
Operating profit before tax (PBT) for FY25 grew 15% to INR3,821 million from INR3,337 million.
Operating PBT for Q4 FY25 grew 51% to INR917 million from INR608 million.
Standalone Operating PBT for FY25 grew 20% to INR1,650 million from INR1,377 million
Q4, typically an investment quarter, was profitable for a second consecutive year.
Travel Services EBIT grew by 29% in FY25, aided by a strong turnaround of the group’s global DMS companies; Forex grew by 21%
Cash and bank balances at the close of the fiscal year (1 April 2024 to 31 March 2025) stood at INR20,739 million. In the group’s statement for the fiscal year ending 31 March 2025, the board recommended a dividend of INR0.45 per share.
Commenting on the results, Thomas Cook (India) Limited Executive Chairman Madhavan Menon said: “Thomas Cook India has delivered another robust performance to wrap up FY25, reporting its highest ever consolidated PBT of INR3,784 million. 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%.”
Thomas Cook (India) Limited Managing Director & CEO Mahesh Iyer added: “I am proud of the strong all-round performance of the teams across businesses & geographies for FY25. Our focus will remain enhancing customer experience, digital transformation and cost optimisation. Going forward, we remain cautiously optimistic given recent geopolitical events, global trade wars and potential effects.”
How business sectors performed
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, Southeast 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
o 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
o 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 personalised 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 the MICE segment, led by Gulf Dunes, which secured significant bookings, including major events such as those for Amway (with a topline of INR1078 million) 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 margins primarily driven by a mix change towards higher Groups and VIP segments.
• Private Safaris
o South Africa: Q4 FY25 showed steady y-o-y performance, with improved contribution margins driven by upselling efforts within the Groups and MICE segments
o 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
