Thomas Cook (India) declared its Consolidated Financial Results for the Quarter ended September 30, 2014 with an Increase in Income from Operations of 40per cent (Rs 4.4 Bn to Rs 6.1 Bn), Profit Before Tax of 53per cent (Rs 272 Mn to Rs 417 Mn) and consolidated Profit After Tax of 61per cent (Rs 178 Mn to Rs 286 Mn). The July-August-September period is the traditional lean season for the Travel Industry, but strong demand gave a boost to the Company’s Leisure Outbound business, with significant volumes driving its Foreign Exchange business.
For the Nine Month period ended September 30, 2014, the Consolidated Results for Thomas Cook (India) Ltd also demonstrated strong growth, with an Increase in Income from Operations by 98per cent (Rs.8.3 Bn to Rs. 16.5 Bn), Profit Before Tax of 61per cent (Rs. 805 Mn to Rs. 1.3 Bn) and consolidated Profit After Tax of 66per cent (Rs.523 Mn to Rs.869 Mn), as compared to the corresponding Nine Month period of 2013.*
Ikya Human Capital Solutions, a subsidiary of Thomas Cook (India), completed its acquisition of BrainHunter Systems Ltd, formerly known as Zylog Systems (Canada) on October 23, 2014.
The subsidiary has delivered an impressive increase of 147per cent in EBIT for the Quarter ended September 30, 2014 (Rs 112 Mn to Rs 277 Mn).
Having acquired a majority stake in Sterling Holiday Resorts (India) Ltd on September 3, 2014, the full quarter results of Sterling Holidays will start reflecting in the Thomas Cook India Group’s consolidated results from the next quarter onwards, to the extent of its holding in Sterling Holidays.
Commenting on the Results, Madhavan Menon, Managing Director, Thomas Cook (India). said, “While the Third Quarter is a low season across the Travel & Tourism Industry, our core businesses of travel and foreign exchange, as also Ikya Human Capital Solutions, have delivered well and this is reflected in our Consolidated Results for the Quarter with a strong increase of 61per cent in Profit After Tax and 40per cent in Income from Operations.
He concluded by stating, “The upcoming Q4 is a key period and with our forward bookings looking strong, we look forward to closing the year on a positive note for The Thomas Cook India Group.”
