Strong demand to boost profits of travel operators by 6-7% in FY23: CRISIL report

Leading travel and tour operators are expected to witness 6-7 per cent growth in operating profit and recover 90% revenue in this financial year, mainly driven by efficient cost structure, Crisil Ratings said in a report. It said, ‘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.’