Thomas Cook (India) Limited (TCIL) declared its Third Quarter results recently. The company’s Gross Turnover increased by 10 per cent from Rs. 144,442 million to Rs. 159,208 million. In addition their EBIT (YTD) grew by nine per cent (excluding one-time items), and their revenue for the Quarter increased by eight per cent from Rs 966 million to Rs 1,039 million (13 per cent over the nine month period).
The Outbound Travel success was due to a noteworthy 20 per cent growth in overall passenger numbers; MICE having contributed an impressive 39 per cent increase in passengers. The Domestic vertical of the company has also shown a corresponding YTD passenger growth of 18 per cent. In the face of challenging trading conditions, Foreign Exchange has delivered well on its aggressive expansion strategy, via a combination of owned shops and franchisee partners, having added 26 new outlets to their pan India Forex network, in addition to the launch of 2 new airport counters at IGIA, New Delhi.
Commenting on the results, Madhavan Menon, Managing Director, TCIL said, “Q3 traditionally coincides with the off season for travel and despite the dramatic price increases in international air fares and a highly volatile Rupee, TCIL has delivered strong results with gross turnover up by 10 per cent and underlying EBIT up by nine pear cent. Both our key businesses of Leisure Outbound and MICE have performed exceptionally well with an overall Outbound Travel passenger growth of 20 per cent on a YoY basis. With our aggressive expansion strategy, a host of innovative services and tie ups to be announced shortly, a dynamic new management team and forward bookings already up by a resounding 50 per cent over the previous year; TCIL is confidently poised to end the financial year on a very strong note.”
