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Thomas Cook (India) Ltd declares Q1 Results
Operating PBT at Rs 14 mn against loss of Rs 3 mn in 2011;
Consolidated Revenue at Rs. 867 mn (6% growth)
Mumbai, April 27, 2012: Thomas Cook (India) Limited declared its first quarter results today.
Highlights for the Quarter:
- Revenue increased to Rs. 867 million from Rs.820 million, an increase of 6% compared to Q1 of last year.
- Outbound travel revenue grew by 16%
- Foreign Exchange volumes in India for the quarter increased by 8%
- Operating PBT - Rs.14 million against loss of Rs. 3 million *(excluding profit on sale of property in Q1 2011 of Rs 76 mn)
- Operating PAT - Rs.8 million against a loss of Rs. 29 million *(excluding profit on sale of property in Q1 2011 of Rs 76 mn)
Thomas Cook (India) Ltd. posted an increase in revenue of 6% in Q1 on a consolidated basis. Despite depreciation of the rupee contributing to a negative customer sentiment, the overall Outbound sales has grown by an impressive 56%. MICE and Outbound Leisure have been key contributors, with an increase of 54% and 44% respectively over Q1 of the previous financial year. Passenger numbers for the outbound group segment have shown a record increase of 44%. Transactions for the Foreign Exchange vertical have increased by 8% over the previous year.
In anticipation of the upcoming holiday booking season, strong focus on advertisement and marketing was required, resulting in an increase in spend of 40% over the previous year.
Aggressive expansion particularly via the franchisee route in Tier II and III markets, has played a significant role in the increased leisure business. Introduction of unique products and innovation in the Leisure portfolio covering a range of price points, has given further impetus to the outbound growth.
Commenting on the results, Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd said, “Despite volatility in the global currency markets and the negative impact to the Rupee, Thomas Cook (India) Ltd. has delivered strong results with PBT of Rs. 14 mn, excluding profit on sale of property of Rs 76 mn in 2011. Both our key businesses of Leisure Outbound and MICE have performed well and our forward bookings for both group tours and MICE show an increase of 25%. ”
About Thomas Cook (India) Limited:
Thomas Cook is the largest 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. The Company set up its first office in India in 1881, and has been providing world-class travel service for 131 years.
TCIL’s footprint currently extends to over 206 locations (including 25 airport counters) in 78 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 117 Gold Circle Partners and 166 Preferred Sales Agents in over 100 cities pan India.
Thomas Cook (India) Ltd has been honoured with the “Favourite Specialist Tour Operator" award at the Condé Nast Traveller Readers' Travel Awards 2011 and was also conferred with the CNBC AWAAZ - “Best company providing foreign exchange” in India for the third year in a row. In addition, Thomas Cook (India) Ltd has been awarded the ‘Most Trusted Tour Operator Brand’ by the Times Travel Honours 2011 and also recognized as a “Superbrand” 2011-2012 by consumers for excellence in travel services.
CRISIL has reaffirmed Thomas Cook (India) Limited with the ‘CRISIL A1+ and AA- rating. The Brand Trust Report™, India study 2012, has ranked Thomas Cook (India) Ltd as The most Trusted Brand in Services. Recently, TCIL was awarded the prestigious National Tourism Award (2010-2011) for ‘Outstanding Performance’ as an ‘Inbound Tour Operator’ in Category I, third position. For more information, please visit www.thomascook.in
About Thomas Cook Group plc:
Thomas Cook Group plc is one of the world's leading travel groups with FY 2010 sales of £8.9 billion and 22.5 million customers. The Group operates under six geographical segments in 21 countries, and is number one or two in all its core markets. Its business is supported by 31,000 employees, a fleet of 94 aircraft and a network of over 3,500 retail outlets. For further details please visit www.thomascookgroup.com
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