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Indian travel operators to wheel in profits in fiscal 2023 CRISIL Ratings

Posted : 30 March 2023 01:27:24 | By TWO Bureau | GNN Bureau

Indian travel operators to wheel in profits in fiscal 2023 CRISIL Ratings

Leading operators in the Indian tours and travel sector are set to report operating profits in fiscal 2023 after having reported losses for the past two fiscals due to pandemic-induced travel restrictions, said a press release by CRISIL Ratings. While operating profitability is expected to check in at 6-7%, revenue should drive past 90% of pre-pandemic levels, buoyed by a strong recovery in both, corporate and leisure travel segments in India and abroad.

“We expect operating margins to sustain at these levels next fiscal, due to implementation of cost optimisation and automation initiatives undertaken by travel operators commencing from the pandemic period, even as revenues are expected to pass pre-pandemic levels next fiscal,” the release added

This marks a significant turnaround from operating losses of 25.8% and 2.7% in fiscals 2021 and 2022, respectively. The improvement in operating performance, together with healthy liquidity and net debt-free balance sheets, will help strengthen credit profiles of the players. An analysis of four major travel operators (Thomas Cook, MakeMyTrip, Yatra and EaseMyTrip) accounting for over 60% of the domestic sector’s revenue, indicates as much.

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Tags : #indian_travel_operators, #wheel_in_profit, #Fiscal, #2023, #CRISIL_ratings,

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