{"id":76285,"date":"2026-10-09T20:16:40","date_gmt":"2026-10-09T14:46:40","guid":{"rendered":"https:\/\/newswiredelhi.com\/index.php\/2026\/10\/09\/cordelia-cruises-crushes-the-monsoon-rs-585-million-profit-blasts-past-last-years-loss\/"},"modified":"2026-10-09T20:16:40","modified_gmt":"2026-10-09T14:46:40","slug":"cordelia-cruises-crushes-the-monsoon-rs-585-million-profit-blasts-past-last-years-loss","status":"publish","type":"post","link":"https:\/\/newswiredelhi.com\/index.php\/2026\/10\/09\/cordelia-cruises-crushes-the-monsoon-rs-585-million-profit-blasts-past-last-years-loss\/","title":{"rendered":"Cordelia Cruises Crushes the Monsoon: Rs 585 Million Profit Blasts Past Last Year\u2019s Loss"},"content":{"rendered":"
\n

New Delhi [India], October 9:<\/strong> The July\u2013September quarter<\/strong> is the toughest stretch on any Indian cruise calendar. Monsoon seas shorten sailing schedules and dampen demand. A year ago, this was the quarter in which Cordelia Cruises lost Rs 89.3 million<\/strong>. This year, it earned Rs 585.0 million<\/strong>.<\/p>\n

Waterways Leisure Tourism Limited<\/strong>, the company behind the brand, reported revenue from operations of Rs 1,329.0 million<\/strong> for the quarter ended 30 September 2026<\/strong>, up about 31%<\/strong> from Rs 1,015.4 million a year earlier. Total income rose 43% to Rs 1,511.6 million<\/strong>.<\/p>\n

Underneath the headline, the core business has turned the corner. Profit before tax and exceptional items came in at Rs 96.1 million<\/strong>, against a loss of Rs 114.9 million in the same quarter last year. That is a swing of more than Rs 210 million<\/strong> in the slowest season of the year.<\/p>\n

Earnings per share rose to Rs 0.85<\/strong>, compared with a loss of Rs 0.14 a year ago. For a company that only listed on 1 July 2026<\/strong>, it is a commanding debut as a public company.<\/p>\n

If this is what Cordelia can do when the seas are rough, the October\u2013March peak season<\/strong> looks set to be a strong one.<\/p>\n

Cordelia Cruises Smashes Full-Year Profit in Just Six Months, and Peak Season Hasn\u2019t Even Started<\/strong><\/h3>\n

Cordelia Cruises needed only six months to beat its full-year profit for the previous year.<\/p>\n

For the half year ended 30 September 2026<\/strong>, the company reported net profit of Rs 812.7 million<\/strong>, up from Rs 258.3 million in the first half of last year. For the full year ended 31 March 2026<\/strong>, it earned Rs 521.4 million<\/strong>. With half the year still to go, the company has already passed that figure by about 56%<\/strong>.<\/p>\n

The growth goes beyond net profit:<\/p>\n

    \n
  • Revenue from operations rose about 16% to Rs 3,230.1 million.<\/strong><\/li>\n
  • Profit before tax and exceptional items rose about 19% to Rs 426.6 million.<\/strong><\/li>\n
  • Earnings per share tripled to Rs 1.20, from Rs 0.40.<\/strong><\/li>\n<\/ul>\n

    The first half includes the monsoon months, so the company has reached these numbers before entering its busiest season. The October\u2013March period<\/strong>, when cruise demand in India is at its highest, is yet to come.<\/p>\n

    Cordelia Cruises Goes Big: Two New Ships, SKY and SUN, Set to Supercharge Growth<\/strong><\/h3>\n

    In the cruise business, the size of the fleet sets the limit on growth. Cordelia Cruises is now raising that limit.<\/p>\n

    According to its results filing, the company paid USD 24.8 million in advance lease rentals<\/strong> for two upcoming vessels, \u201cSKY\u201d and \u201cSUN\u201d<\/strong>. SKY was handed over on 10 September 2026<\/strong>, three weeks before the original date of 30 September.<\/p>\n

    The company has also made an interest-bearing advance of Rs 4,290.4 million<\/strong> to a third party to acquire another new vessel. The advance earns interest while the deal progresses.<\/p>\n

    Capital work-in-progress<\/strong>, which covers projects still under construction, rose to Rs 367.4 million from nil in March<\/strong>. Right-of-use assets<\/strong>, which reflect leased assets such as ships, more than doubled to Rs 299.3 million<\/strong>.<\/p>\n

    For travellers, this means more cabins, more routes and more departures. For the business, every additional ship adds a new source of revenue. Cordelia is not waiting for demand to come to it. It is building the capacity to meet that demand.<\/p>\n

    Cordelia Cruises Scores a USD 5.2 Million Windfall, Getting Paid to Take Its New Ship Early<\/strong><\/h3>\n

    Most fleet expansions cost money. Cordelia Cruises managed to get paid for one of its own.<\/p>\n

    Under an agreement dated 1 September 2026<\/strong>, Norwegian Sky Limited<\/strong> paid Cordelia\u2019s subsidiary, Bay Cruise Investments Inc.<\/strong>, USD 5.2 million<\/strong> for taking delivery of the vessel \u201cSKY\u201d<\/strong> early. The ship was handed over on 10 September 2026<\/strong> instead of the original date of 30 September. The filing states that the compensation comes \u201cwithout any obligation\u201d<\/em>.<\/p>\n

    The payment was booked as an exceptional item of Rs 494.8 million<\/strong> in the September quarter. Cordelia now has its new ship in service sooner, and the extra cash strengthens its finances.<\/p>\n

    The deal also shows the management team\u2019s skill in negotiating with global ship owners. It sets a positive example for the company\u2019s next fleet additions, including the vessel \u201cSUN\u201d<\/strong>.<\/p>\n

    Cordelia Cruises Turns Into a Cash Machine: Rs 922 Million Swing in Operating Cash Flow<\/strong><\/h3>\n

    Profits matter, but cash is what keeps a company running. Cordelia Cruises\u2019 cash flow has improved even more than its profits.<\/p>\n

    In the half year ended 30 September 2026<\/strong>, the company\u2019s operations generated Rs 499.7 million of net cash<\/strong>. In the same period last year, operations used up Rs 422.5 million. That is a swing of more than Rs 920 million in twelve months<\/strong>.<\/p>\n

    Cash generated from operations before tax was Rs 762.0 million<\/strong>, even after the company paid Rs 262.3 million in income tax<\/strong>. That kind of tax payment reflects real, taxable profit.<\/p>\n

    A business that produces its own cash depends less on outside funding for daily operations. Combined with the IPO proceeds, Cordelia can now pay for its growth from two sources: its own operations and fresh capital from the market.<\/p>\n

    Cash and cash equivalents rose to Rs 70.0 million<\/strong> at the end of the period, with a further Rs 2,112.0 million held in other bank balances<\/strong>.<\/p>\n

    Cordelia Cruises Puts Its Cash to Work as Other Income Rockets More Than Four-Fold<\/strong><\/h3>\n

    Cordelia Cruises is earning a return on its capital before that capital is even spent.<\/p>\n

    Other income in the September quarter rose to Rs 182.6 million<\/strong>, from Rs 39.9 million a year earlier, an increase of about 4.6 times<\/strong>. For the half year, it reached Rs 197.7 million<\/strong>, up from Rs 50.2 million.<\/p>\n

    The cash flow statement shows where this comes from. In the half year, the company earned:<\/p>\n

      \n
    • Rs 86.5 million in interest on bank deposits, up from Rs 1.1 million<\/strong><\/li>\n
    • Rs 102.5 million in interest on loans given, up from Rs 9.4 million<\/strong><\/li>\n<\/ul>\n

      As planned, unused IPO proceeds are kept in fixed deposits. The Rs 4,290.4 million advance for a new vessel<\/strong> also earns interest. This means the money set aside for future ships is already earning income for shareholders.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      New Delhi [India], October 9: The July\u2013September quarter is the toughest stretch on any Indian cruise calendar. Monsoon seas shorten sailing schedules and dampen demand. A year ago, this was […]<\/p>\n","protected":false},"author":1,"featured_media":76286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_rishi_post_view_count":6},"categories":[4],"tags":[54],"class_list":["post-76285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","rishi-post"],"rishi__cb_customizer_meta":"","comments_count":"0","_links":{"self":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/76285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/comments?post=76285"}],"version-history":[{"count":0,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/76285\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media\/76286"}],"wp:attachment":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media?parent=76285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/categories?post=76285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/tags?post=76285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}