Hi All,
As I write this note, you would have heard about the declaration of our results for the Financial Year ended March 2024. We reported record profits for the Group with each of the Group Companies participating in their contribution to the profits. I am pleased to report to you that all the Group Companies returned to profitability between the Quarter ended December 2023 and March 2024. Clearly, the Travel Industry worldwide has revived in a dramatic manner, and none is more evident than what we have witnessed in India over the last year. I personally believe this trend will continue for some time. I would like to congratulate Mahesh Iyer ( TCIL), Dipak Deva(TCI), Vishal Suri (SOTC), Vikram Lalvani (Sterling Holiday Resorts), Laurent Kuenzle (Asian Trails), Peter Payet (Desert Adventures), Alexander Spiro ( Private Safaris EA), Virginia Barnard (Private Safaris SA), Mark Morello (ATP) and Ramakrishnan (DEI), and their respective teams for the phenomenal result.
2024 will also be a year of milestones with SOTC celebrating their 75th Anniversary, and Asian Trails celebrating their 25 th Anniversary. The year-round celebration has begun at SOTC, while Asian Trails and Desert Adventures are planning a celebration later this year. Additionally, several people completed important long service milestones, Dipak Deva (25 years), Hiren Navinchandra Parekh (35 years) Freddy Mistry (35 years).Bharat More (30 years), Manish Gandhi (25 years), Sneha Gurbani (25 years), Imtiaz Quereshi (25 years), Robin
Raj (25 years),), Atique Khan (25 years), Shrikant Ramakant Prabhu (25 years), Joseph Dsilva (20 years), Mamata Ghanshyam Jambavlikar (25 years).
Please join me in congratulating each of them for achieving these important milestones and wish them many prosperous years.
During the quarter, we also witnessed the retirement of Parveen Kaur (TCI – Japan), Shaikh Quayyum Ibrahim (Corporate Travel), Bhavna Tribhuvan Marolia (Administration), Pascoal Thomas D’Costa (Corporate Travel) and Nityananda Nayak (SSC – Finance & Accounts).
Please do join me in thanking them for their contributions and wishing them all the very best in their future endeavors.
I would like to conclude by reiterating my objectives for the current year. We must continue to sustain the higher gross margins that we have witnessed in the post pandemic period, control costs to the maximum extent possible, continuously upgrade technology, and leverage of the improved productivity. As the market leader in each of our Businesses and Companies, we must lead from the front and set an example for the entire industry to follow.
Regards,
Madhavan Menon