Latest News
HomeAsia-PacificThomas Cook (India) Limited announces strong consolidated results for the year ended March 31, 2017
TOs

Thomas Cook (India) Limited announces strong consolidated results for the year ended March 31, 2017

On an annualized basis, the consolidated travel businesses of the group saw a revenue growth of 79.7% from Rs. 21.7 Bn. to Rs. 39.1 Bn.

MUMBAI – The Thomas Cook India Group declared its consolidated Financial Results for the year ended March 31, 2017. The Group has announced an increase in Total Income from Rs. 61.6 Bn. during the year ended March 31, 2016 to Rs. 86.8 Bn. for the year ended March 31, 2017. 
 
Consolidated PBT (before exceptional items) increased from Rs. 947.7 Mn. for the year ended March 31, 2016 to Rs. 1,913.7 Mn. for the year ended March 31, 2017 – a growth of 101.9%. 
 
On an annualized basis, the consolidated travel businesses of the group saw a revenue growth of 79.7% from Rs. 21.7 Bn. to Rs. 39.1 Bn.
 
The company’s announcement of its consolidated Financial Results for the year ended March 31, 2017 is in line with the new accounting standards (Ind-AS – Indian Accounting Standards) which is required to be followed for both standalone financials and consolidated financial statements.
 
Quess Corp saw Gross revenue up 21% from Rs. 34. 3 Bn. during the 12 month period ended March 31, 2016 to Rs. 41.4 Bn. for the 12 month period ended March 31, 2017.
 
Commenting on the Results, Mr. Madhavan Menon, Chairman & Managing Director, Thomas Cook (India) Ltd. said, “Despite numerous geo-political and related challenges for our core Travel and Forex businesses, the Group’s strong performance for the year, gives us further conviction that our strategy of organic and inorganic growth backed by the twin enablers of technology and innovation are working well. The synergistic advantages we had foreseen from our acquisition of SOTC, Sita and Kuoni Hong Kong in 2015 are also well on track to deliver.”
 
Going forward, with our recently announced agreement to acquire Kuoni’s global network of Destination Management Specialists across 17 countries, we now have a significant expanded global footprint spanning the Americas, Middle East, Africa, Asia and Australia. This global acquisition, further underlines our commitment at Thomas Cook India Group – to invest and grow our businesses globally, to create strong value for our stakeholders.

 

Co-Founder & Chief Editor - TravelDailyNews Media Network | + Articles

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

24/04/2024
23/04/2024
22/04/2024
19/04/2024
18/04/2024
17/04/2024