Are Thomas Cook (I) latest results good or bad?

Thomas Cook (India) has reported its financial results for the quarter ending March 2025, which reveal a complex operational landscape. The company's Profit Before Tax (PBT), excluding other income, is recorded at Rs 38.41 crore, indicating a notable decline compared to the average PBT of Rs 57.92 crore over the previous four quarters. This suggests that the company is facing challenges in its core business operations.
The financial results also show that non-operating income has made up 58.04% of the total PBT, which raises concerns regarding the sustainability of the business model. The non-operating income reached its highest level in the last five quarters at Rs 53.14 crore, indicating a reliance on income from non-business activities, which may not be a viable long-term strategy.

In terms of net sales, there has been a reported decline of 4.47% in the quarter ended March 2025 compared to the previous quarter, which contrasts with a growth of 2.86% in December 2024. The operating profit (PBDIT) excluding other income also reflects a decrease of 15.08% from the previous quarter, further emphasizing the operational difficulties faced by the company.

On a more positive note, the consolidated net profit has shown a growth of 30.23% compared to the previous quarter, which may indicate some recovery in profitability despite the challenges in other areas. The operating profit margin, however, has seen a slight decline of 0.63%.

Overall, the company has experienced an adjustment in its evaluation, reflecting the ongoing financial challenges and operational trends.