Net profit of Thomas Cook, a leading provider of corporate travel services, has risen by 25.6 per cent from Rs 10.86 crore for the year ended December 1995 to Rs 13.65 crore for the year ended December 1996.
Its income from services increased by 21.6 per cent to Rs 52.47 crore from Rs 43.25 crore while 'other income' jumped by 30 per cent to Rs 1.71 crore from Rs 1.31 crore. The earnings per share (EPS) stood at Rs 26.
The company has declared a dividend of 55 per cent and announced a bonus issue of 2:3.
Reserves with the company have gone up by nearly Rs 10 crore to Rs 43.08 crore from Rs 32.33 crore. Interest charges rose to Rs 89.3 lakh from Rs 85.5 lakh while depreciation charges increased to Rs 1.63 crore from Rs 1.42 crore.
"The budgetary proposals look promising and we are confident that this will provide the necessary impetus for business growth," said Pradip Madhavji, chairman of the company.
Thomas Cook, which has embarked upon an expansion plan, has opened foreign exchange offices in Jallandhar, Calcutta and Bangalore. Besides, foreign exchange bureaux were opened at Calcutta, Trivandrum and Chennai airports. Thomas Cook Holidays, the leisure travel division, has recently been appointed as general sales agents by Cunard Cruise Lines which owns the luxury ships QE 2 and Royal Viking Sun.
