• Quarterly turnaround: Revenue grew 31% year-on-year; an approximately ₹9 crore loss turned into a ₹58 crore profit, while EBITDA moved from a loss to roughly around ₹9.75 crore profit. The CFO said last year’s weaker results reflected itinerary experiments ahead of Sky joining the fleet.
• Growth drivers: Management said the company has roughly 80% of India’s ocean-cruise market when foreign vessels are included, and 100% among Indian operators. It cited itinerary changes and the reduction of TCS to 2% as growth contributors; its average customer age is 36, 37, versus more than 54 years globally.
• Sky economics: Cordelia Sky has 1,000 cabins, including 260 premium cabins, compared with Empress’s 796 cabins and 69 premium cabins. At the same itinerary and ticket prices, the CFO estimated revenue could increase by roughly around 100%, with profitability rising appropriately as costs largely remain the same; category-wise pricing will not differ between the ships.
• Demand and ports: The CFO said demand is not a constraint, estimating roughly around 20 crore people in India can afford cruising; he identified port infrastructure as the main challenge and cited 20, 22 ports being built under Cruise Bharat.
• Fleet outlook: Sky’s first sailing was set for 23 October, after the company took delivery 21 days early in Istanbul; the CFO said this contributed ₹52 crore revenue in the quarter. Cordelia Sun is expected in September 2027, and management said the business is continuously outperforming, with fuel its only impact from global disruptions.