From the Chairman’s Desk
The rebound continues with each of the Group companies registering a better performance than we witnessed in the corresponding period in 2019. With the current trend we can assume that the Quarter ended March 2023, and the Financial year ending March 2023, will register significantly improved performance at a group level. I thank all our hardworking staff for their dedication and contribution that have led to our successful business operations. Your efforts are greatly appreciated.
I have always said that Brands, and the legacy that they come with, are extremely important to us. Just like Thomas Cook’s own legacy, SITA India, the Brand housed in TCI recently celebrated its 60th Birthday. What is even more heartening is the fact that the two other Brands in TCI, namely TCI and Distant Frontiers, are 62 and 29 years respectively. In the next edition, we will publish the legacy of each of the brands that we own. Please join me in wishing Dipak, and his Team, a Happy Anniversary.
I would like to congratulate Vishal and the entire SOTC team on winning two awards, ‘Best Outbound Travel Operator’, and ‘Best MICE Travel Operator’ at the first edition of The Economic Times Travel & Tourism Annual Awards.
While we continue to rebound, the current Global Geo Political situation is driving inflation higher, which in turn has led to higher interest rates arising from higher input costs like airfares, hotel rates, transport rates, etc. These still represent potential headwinds for our business. Additionally the higher rates are being fed by higher fuel costs, shortage of planes and, most significantly, the workforce shortages across the world. I am sure even this will blow over in the coming months and years.
I will use this opportunity to wish a very Happy Baisakhi, Happy Eid and a Belated Easter, Chinese New Year, Songkran and Makar Sankranti!
Stay well and blessed.
Regards,
Madhavan Menon