Latest news with #MaheshIyer
Economic Times
01-08-2025
- Business
- Economic Times
H2 of FY2026 should be better than H1: Mahesh Iyer, MD and CEO, Thomas Cook (India)
With geopolitical conflicts and resultant flight diversions and cancellations impacting travel sentiment, adding to the US cracking down on student visa applicants, and a major air crash, the April to June quarter was a challenging period for the domestic travel industry. However, travel sentiments are returning to normal and the second half of the year should end on a positive note, Mahesh Iyer, MD and CEO at Thomas Cook (India) told ET in an interview. Iyer has been overseeing operations at the company after Madhavan Menon retired as the chairman this February following a 25-year-stint. Menon is continuing as the company's non-executive chairman. 'Some sectors are pointing to a slowdown, while others are signalling lower job creation, and even job cuts. In the near term, there could be some softness, but the long term travel story remains intact,' said Iyer. 'People have continuing aspirations to travel. There is money. You see the RBI's liquidity infusion and the corporate capex cycle. We expect H2 of fiscal year 2026 to be better than H1,' he Cook (India) reported a consolidated income from operations of Rs 2,453 crore in the June quarter, growing 15% year-on-year. Consolidated net profit however stayed flat at about Rs 73.4 company reported an increase in sales in its travel services business as well as leisure hospitality, which includes Sterling Holidays and Nature Trails, but forex revenue fell 7% on-year in the quarter. 'We showed resilience in all segments but the forex business didn't have a great quarter. We moved out of the Delhi airport and the student season was impacted. The Haj business was also 25% lower than last year,' said noted strong potential in India's Tier II and III markets, which are currently growing by about 20-25%. 'The metros are also growing in double digits, but their rate of growth is about 10-12%. Given the improvement in regional connectivity, the growth rates can be much higher,' he an increasing number of travellers are preferring customised holidays, with visa-free or easy-visa destinations becoming the norm.'More and more customers want to build their own packages, and we are building tech tools to help them pre-book and pre-plan their trips,' he said. 'The travel industry has no entry barriers and anyone with some technology tools can put together a product. But what's important is managing customer needs and expectations till the last point.' Iyer said the company's domestic business was also hit last quarter due to travel disruptions in the key market of Kashmir, after the April 22 Pahalgam terror attack. 'Our domestic versus international bookings mix is about 15% domestic and 85% international and that is likely to stay the same,' he said. 'India is a vast market, and we want to be relevant and keep building scale for certain markets such as Himachal Pradesh, Andamans and Goa besides Kashmir. If you spread yourself too thin, you don't get benefits like airline benefits, benefits of economies of scale.' Besides its eponymous brand, the company's portfolio includes brands such as SOTC and SITA travels. It plans to add 1,000 keys in the next 18 months under its leisure hospitality brand Sterling Holidays Resorts. 'We are now at 59 properties and over the past 12-18 months, new properties have come up in Dehradun, Lansdowne, Amritsar, Coorg, Jaisalmer, Wayanad, Pench, Lonavala and Udaipur,' he added.
Time of India
01-08-2025
- Business
- Time of India
H2 of FY2026 should be better than H1: Mahesh Iyer, MD and CEO, Thomas Cook (India)
With geopolitical conflicts and resultant flight diversions and cancellations impacting travel sentiment, adding to the US cracking down on student visa applicants, and a major air crash, the April to June quarter was a challenging period for the domestic travel industry. However, travel sentiments are returning to normal and the second half of the year should end on a positive note, Mahesh Iyer , MD and CEO at Thomas Cook (India) told ET in an interview. Iyer has been overseeing operations at the company after Madhavan Menon retired as the chairman this February following a 25-year-stint. Menon is continuing as the company's non-executive chairman. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science healthcare Finance Product Management Digital Marketing Leadership Data Analytics Operations Management Project Management MBA Management Design Thinking CXO Data Science others Others Degree Cybersecurity PGDM Healthcare Technology Artificial Intelligence Public Policy Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details 'Some sectors are pointing to a slowdown, while others are signalling lower job creation, and even job cuts. In the near term, there could be some softness, but the long term travel story remains intact,' said Iyer. 'People have continuing aspirations to travel. There is money. You see the RBI's liquidity infusion and the corporate capex cycle. We expect H2 of fiscal year 2026 to be better than H1,' he said. Thomas Cook (India) reported a consolidated income from operations of Rs 2,453 crore in the June quarter, growing 15% year-on-year. Consolidated net profit however stayed flat at about Rs 73.4 crore. The company reported an increase in sales in its travel services business as well as leisure hospitality, which includes Sterling Holidays and Nature Trails, but forex revenue fell 7% on-year in the quarter. 'We showed resilience in all segments but the forex business didn't have a great quarter. We moved out of the Delhi airport and the student season was impacted. The Haj business was also 25% lower than last year,' said Iyer. He noted strong potential in India's Tier II and III markets, which are currently growing by about 20-25%. 'The metros are also growing in double digits, but their rate of growth is about 10-12%. Given the improvement in regional connectivity, the growth rates can be much higher,' he added. Meanwhile, an increasing number of travellers are preferring customised holidays, with visa-free or easy-visa destinations becoming the norm. 'More and more customers want to build their own packages, and we are building tech tools to help them pre-book and pre-plan their trips,' he said. 'The travel industry has no entry barriers and anyone with some technology tools can put together a product. But what's important is managing customer needs and expectations till the last point.' Iyer said the company's domestic business was also hit last quarter due to travel disruptions in the key market of Kashmir, after the April 22 Pahalgam terror attack . 'Our domestic versus international bookings mix is about 15% domestic and 85% international and that is likely to stay the same,' he said. 'India is a vast market, and we want to be relevant and keep building scale for certain markets such as Himachal Pradesh, Andamans and Goa besides Kashmir. If you spread yourself too thin, you don't get benefits like airline benefits, benefits of economies of scale.' Besides its eponymous brand, the company's portfolio includes brands such as SOTC and SITA travels. It plans to add 1,000 keys in the next 18 months under its leisure hospitality brand Sterling Holidays Resorts . 'We are now at 59 properties and over the past 12-18 months, new properties have come up in Dehradun, Lansdowne, Amritsar, Coorg, Jaisalmer, Wayanad, Pench, Lonavala and Udaipur,' he added.
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Business Standard
31-07-2025
- Business
- Business Standard
Thomas Cook sees July rebound in travel bookings after Q1 disruptions ease
Company sees pickup in forward bookings post-Air India crash and Pahalgam attack; festive demand and long weekends to drive H2 recovery Mumbai Listen to This Article Thomas Cook India has witnessed a revival in domestic travel bookings in July after a sharp dip during the April–June quarter due to geopolitical tensions. Travel sentiment had taken a hit following the Pahalgam terror attack in April and the Air India crash in June, but bookings are now slightly ahead of last year, the company said. 'Before April 21, our forward bookings were trending 25 per cent ahead of last year. But by the end of June, they had declined 11 per cent YoY,' said Mahesh Iyer, managing director and chief executive officer, Thomas Cook India. 'From July onwards,
News18
30-07-2025
- Business
- News18
Thomas Cook India net profit stays flat at Rs 73.4 crore in April-June
Last Updated: Mumbai, Jul 30 (PTI) Omni-channel travel company Thomas Cook India Group's consolidated net profit stayed flat at Rs 73.4 crore in the quarter ended June 2025 compared to the same period of the previous financial year. The company's net profit stood at Rs 73.01 crore during the corresponding period of the previous fiscal, Thomas Cook India said in a regulatory filing. Revenue from operations of the company grew by 14.34 per cent during the quarter under review at Rs 2,407.96 crore as against Rs 2,105.94 crore registered in the same period of the previous fiscal. 'Despite the recent geopolitical events this quarter, that disrupted the travel ecosystem both in India and globally, I am happy to announce that the Thomas Cook India Group reported a PBT growth of 18 per cent for Q1 FY26 at Rs 1,284 Mn, excluding the effect of a one-time expense," Thomas Cook (India) Managing Director and CEO Mahesh Iyer said. Total income from operations grew by 15 per cent y-o-y and 21 per cent on a sequential basis, he said. 'This was driven by strong performances across Travel Services, Hospitality (Sterling Holidays), our DMS companies and DEI. Looking ahead, the Group continues to stay focused on technology and improved customer experience. Given the unpredictable external environment, and its potential impact on travel sentiment, we remain cautiously optimistic as we move into the festive season ahead," he added. Shares of the company on Wednesday closed at Rs 166.70, down by 1.51 per cent, on BSE. PTI SM HVA view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
29-07-2025
- Entertainment
- News18
Saiyaara's Shaan Grover Drops BTS Pics With Aneet Padda, Says ‘Mahesh Fictional Hai, Par…'
Shaan Grover, who played the negative role of Mahesh Iyer in Saiyaara, thanked everyone who watched the film - and even those who cursed his character! Saiyaara, starring Ahaan Panday and Aneet Padda, is wreaking havoc at the box office! The film is being praised for its storytelling, as well as the actors' brilliant performances. Shaan Grover, who plays the negative character Mahesh Iyer in the film, has now shared some behind-the-scenes moments from the set of Saiyaara. He also penned a note, in which he thanked everyone who watched the film, danced in theatres, and even those who cursed his character Mahesh! The actor was trolled by many for his convincing portrayal of the antagonist Mahesh Iyer, who left his fiancée at the altar. In his note, Shaan Grover wrote, 'Still soaking it all in…To everyone who's watched Saiyaara, danced, cried, cheered, and even cursed my character…thank you from the bottom of my heart. And this…is only the beginning." He shared a series of pictures and behind-the-scenes moments with Aneet Padda and director Mohit Suri, explaining each photo with a caption. The first picture shows him and Aneet Padda posing happily outside YRF Studios. Aneet looks chic in a blue sweatshirt with baggy jeans, while Shaan is seen in a red tee with jeans. 'Yahan ek photo toh banti hai," wrote Shaan, while captioning the photo. The next picture shows a still of his character Mahesh. 'Mahesh Iyer toh fictional hai…par aap sab ka obsession real hai," he wrote. One video clip shows Shaan dancing to Chhaiya Chhaiya in the vanity van. 'This is what happens when the camera's not rolling…or is it?" he wrote. Another BTS picture shows him and Aneet together shooting for an intense scene. 'Kabhi kabhi jeetne ke liye…haarna padta hai. Aur kabhi kabhi sirf dekhte rehna padta hai," he wrote. Another photo shows a candid moment between him and Saiyaara director Mohit Suri. 'Pre-scene jitters. Post-scene applause. Somewhere in between…magic," wrote Shaan. Reacting to the post, one netizen wrote, 'Shaan grover, you truly nailed it. Mahesh suited you so perfectly," while another one jokingly wrote, 'he bhagwan fir se bhul gayi mahesh." Saiyaara, directed by Mohit Suri and produced by Yash Raj Films, released in theatres on July 18, 2025. First Published: July 29, 2025, 19:53 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
