Mumbai, June 24 -- CRISIL has upgraded the long-term rating and corporate credit rating (CCR) of Thomas Cook (India) Limited (TCIL) to 'CRISIL AA/Stable' from 'CRISIL AA-/Positive'. The short-term rating has been reaffirmed at 'CRISIL A1+'.

The Thomas Cook India Group reported a healthy 11% revenue growth y-o-y to Rs.8,251 crore in FY25 (from Rs.7,405 crore in FY24), driven by strong demand across business lines. The travel segment-accounting for over 75% of total revenues-led the surge with 15% growth to Rs.6,469 crore, Forex and Hospitality grew by 8% and 10% respectively.

Structural cost reduction initiatives, including automation and branch optimisation have contributed to improved operating margins and enhanced return on capital em...