Thomas Cook (India) Limited (TCIL), the leading integrated Travel and Financial Services Company announced financial and operating results for the third quarter ended September 30th, 2008.
* The nine months consolidated figures for Profit before Tax (PBT) before Exceptional Item have grown to Rs. 551.3 Million, a growth of 35% over the corresponding period in the previous year. While for the current quarter the same at Rs. 175.3 mn reflects a growth of 26%.
Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Limited said, "Despite the economic slowdown, witnessed in Q3, the company has been able to post a growth of 26% in operational PBT through measures like productivity improvement and cost management".
The company had reviewed the operations of their branches/ division including subsidiary company resulting into the closure of the unviable travel/ forex branches and a division of subsidiary company, consequently a sum of Rs. 47.3 mn has been charged during the nine month ended 30th Sept 2008. The profit on disposal of surplus properties during the current period under review is Rs. 11.1 mn (previous year Rs. 40.4 mn).
On account of the alignment of the policies of the holding company, Thomas Cook India Ltd., the depreciation for nine months ended 2007 included a one time credit of depreciation in the subsidiary company aggregating to Rs. 18.1 million.
Consequent to the adjustments as stated above the nine months PBT at Rs.515.2 million reflects a growth of 10% over Rs. 467.0 million of the corresponding period in the previous year, while the PBT for the Q3 for 2008 is Rs. 173.5 million.
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EPS of the company has grown to Rs.2.0 from the previous year of Rs. 1.7, a growth of 18%.
During the quarter the company undertook various strategic initiatives:
Thomas Cook (India) today is one of the largest players providing integrated travel services with market leadership in foreign exchange and inbound travel segment. Thomas Cook also recently won the 'Best Travel Agent – India' Award by TTG Asia and the 'Best Tour Operator' Award in the CNBC AWAAZ Travel Awards 2008.
About Thomas Cook (India) Limited
Thomas Cook (India) offers a broad spectrum of travel and related services such as package tours, currency exchange and travel insurance as well as hotel and flight reservations. Thomas Cook has been present in India for over 127 years and operates over 160 offices at various locations in the country and has operations in Sri Lanka & Mauritius. It employs around 2,500 employees and generated Income from Operations of Rs 2.86 billion and a Net Profit of Rs. 519.2 million for 12 months period (Jan 07 – Dec 07). In its initiative to be a 'One Stop Shop', the Company offers a range of travel and financial services / products to its customers. Additional information on Thomas Cook (I) Limited is available on the Company website www.thomascook.in.
About Thomas Cook Group plc
Thomas Cook Group plc was formed on 19 June 2007 following the merger of Thomas Cook AG and MyTravel Group plc. The new company is one of the world's leading leisure travel groups, as on 31st October 2007 there were sales of around £9 billion (€12 billion), 19 million customers, 30,000 employees, a fleet of 97 aircraft, a network of over 3,000 owned or franchised travel stores and a number of hotels and resort properties. The Group operates in 17 source markets including: UK & Ireland; Germany, Austria, Belgium, France, the Netherlands, Poland, Hungary, Czech Republic, Sweden, Norway, Denmark, Finland, Canada, India and Egypt.