Thomas Cook (India) rose 3.41% to Rs 78.90 at 11:21 IST on BSE after consolidated net profit jumped 50.89% to Rs 15.18 crore on 313.51% surge in total income from operations to Rs 436.71 crore in Q3 September 2013 over Q3 September 2012.
The result was announced after market hours on Thursday, 24 October 2013.
Meanwhile, the BSE Sensex was down 9.85 points, or 0.05%, to 20,715.58.
On BSE, 1.56 lakh shares were traded in the counter compared with average volume of 32,183 shares in the past one quarter.
The stock hit a high of Rs 81.40 and a low of Rs 76.60 so far during the day. The stock hit a 52-week high of Rs 81.50 on 22 October 2013. The stock hit a 52-week low of Rs 47.55 on 8 March 2013.
The stock had outperformed the market over the past one month till 24 October 2013, rising 32.47% compared with the Sensex's 4.04% rise. The scrip had also outperformed the market in past one quarter, gaining 33.86% as against Sensex's 3.16% rise.
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The small-cap company has an equity capital of Rs 24.76 crore. Face value per share is Re 1.
On a consolidated basis, Thomas Cook (India) (TCIL) declared an increase in profit from operations of 80% to Rs 37.90 crore, a strong growth in profit before tax of over 71% to Rs 27.20 crore and profit after tax (before minority interest) of over 77% to Rs 17.80 crore respectively in Q3 September 2013 over Q3 September 2012. These consolidated results reflect the overall performance of the various lines of business and subsidiaries of the company, including the contributions of the IKYA Group from 14 May 2013, when TCIL completed its acquisition, the company said in a statement.
TCIL's core travel & foreign exchange businesses delivered a strong growth in profit from operations of over 23% to Rs 28.50 crore, a profit before tax growth of 15% to Rs 18.30 crore and profit after tax growth of 18% to Rs 11.90 crore despite the quarter being the traditional lean period for both outbound and inbound travel, negative economic/customer sentiment, unprecedented devaluation of the rupee versus the US dollar and rising airfares combining to challenge the industry as a whole during this time.
Despite these challenging conditions, Thomas Cook (India) said it continued on its planned expansion strategy, via a combination of owned shops and franchisee partners, adding 27 new outlets to the company's network, in addition to the launch of 2 new mail counters, at Kochi's LuLu Mall and Osia Mali, Goa. The expansion plan aims at improving the breadth and depth of access for Thomas Cook to new and rapidly growing regional markets in Tier II & III towns like Erode, Tumkur, Bhilwara and Dhanbad, in addition to enhancing presence in metros with new outlets in Mumbai, New Delhi, Kolkata and Pune. The company's international presence was also enhanced with an additional outlet each in Sri Lanka, Mauritius and Nepal during this period.
Commenting on the results, Mr. Madhavan Menon, Managing Director, Thomas Cook (India) said, "Given that this quarter has always been the leanest period for our core travel businesses and that this quarter was exacerbated by poor economic indicators & customer sentiment plus an unprecedented, rapid devaluation of the Rupee and higher airfares that combined to significantly impact the entire industry - the performance of TCIL's core businesses is remarkable and a true indicator of the strength of our brand, products and people. Our consolidated results, that since mid May include those of the IKYA Group, are a good indicator of the strength and long term value that they represent & that we invested in."
He added, "With a focus on sustained delivery of top notch products and serviice quality and a carefully calibrated expansion strategy, a now stable Rupee, clearly improved market sentiment, our confidence in the innovative new products we have waiting in the pipeline & forward bookings showing sustained growth of over 20% against the previous year, Thomas Cook (India) is well poised to maintain its leadership in the travel space and end this financial year on a very strong note."
Commenting on the performance of IKYA Group for the period, Ajit Isaac, CEO of IKYA was quoted as saying "The IKYA Group has had a successful quarter with the group posting robust growth in terms of revenues & operating profit. For the quarter, the group has grown head count by 23%, revenues by 42% and EBITDA (earnings before interest, taxes, depreciation and amortization) by 73% Vs the same reporting period for the previous year. We are confident that our broad portfolio of services, depth in offerings, reach and longstanding customer relationships will help in solidifying our status as a class leading business services entity."
Thomas Cook is an integrated travel and travel related financial services company in the country offering a broad spectrum of services that include foreign exchange, corporate travel, mice, leisure travel, insurance, visa & passport services and e-business.
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