Mumbai - Thomas Cook (India) Ltd. declared strong Financial Results for the Quarter ended June 30, 2017 reflecting a robust performance by the standalone entity (31% increase in Profit Before Tax from Rs 321 Mn. to Rs 421 Mn.); Income from Operations grew by 15% from Rs 6863 Mn. to Rs 7886 Mn. The Leisure businesses registered a 23% growth in passenger numbers, while the Foreign Exchange business registered a 6% increase in revenue at an operating level.
Quess Corp Limited
The Company registered strong growth on all key parameters: Revenue growth of 19.9% from Rs. 9.9 Bn to Rs. 11.9 Bn; EBITDA up by 20.4% from ~Rs. 530 Mn to ~Rs. 630 Mn; a 17% increase in Profit Before Tax from Rs 382 Mn. to 447 Mn. and growth in PAT by 34.2%; Headcount grew by 53.2% to ~195,000 for the Quarter ended June 30, 2017 vs. the corresponding quarter of the previous year.
Sterling Holiday Resorts Limited
The Company's operating income grew by 10% from Rs.722 Mn to Rs. 792 Mn in Q1 FY 18. Average Room Rent increased by 34% through better revenue management across various channels.
Thomas Cook India Group
On the back of this robust performance across its various businesses, the Group registered strong consolidated financial results with an increase in Income from Operations of 11% (Rs.24.8 Bn. to Rs. 27.6 Bn.); Earnings Before Interest & Tax growth of 11% (Rs 1381.1 Mn. to Rs 1535.3 Mn.); Profit Before Tax growth of 10% (Rs 1075.8 Mn. to Rs. 1182.7 Mn.), against the corresponding Quarter 2016.
Mr. Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd. said, "Despite continued geo-political challenges in key destination markets, we have seen significant growth across our Leisure segments. Our Shared Services Platform too is delivering well with overall increased efficiencies and productivity gains becoming visible.
We had begun preparations for the landmark GST roll out a year ago, and hence our transition was relatively smooth. While we do anticipate some short term challenges, given the magnitude of the changes it aims to bring about- we are positive that in the long term the GST environment will lead to a more organised market place."