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Thomas Cook (India) Ltd declares strong Q1 Results
EBT grows by 63%; PAT for the Quarter up by 78%
Mumbai, May 13, 2013: Thomas Cook (India) Limited declared its Q1 results today.
Highlights for the Quarter:
- EBT rose to Rs. 22.3 million from Rs. 13.7 million
- PAT increased by 78% to Rs.14.1 million from Rs. 7.8 million
Thomas Cook (India) Ltd. posted strong results for the Quarter ended March 31, 2013, with a 63% increase in EBT and a growth of 78% in PAT, over the corresponding period of 2012.
The company’s Outbound Leisure sales displayed a strong growth of 14%; and sales of Foreign Exchange increased by 6% in comparison to Q1 of 2012.
The company’s forward bookings position for the upcoming holiday season also showed an impressive 22% increase over the corresponding period of the previous year.
The company also saw significant demand for their “Borderless” prepaid multi currency foreign exchange card launched recently, with over 15,500 cards issued and over US $ 38 million in loaded value as of March 31, 2013.
Commenting on the results, Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd said, “Despite Q1 traditionally being a travel low season and the negative impact of a sluggish economy, Thomas Cook (India) Ltd. has delivered strong results on the back of strong performances by both our primary businesses - leisure travel and foreign exchange. Our proactive steps of prudent cost management to reduce our interest costs have also contributed significantly to help deliver these impressive results”
He added, “With forward bookings for our Leisure Outbound business already up by 22%, we anticipate a strong performance for the upcoming summer holiday season.”
About Thomas Cook (India) Limited:
Thomas Cook is the leading 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.
TCIL’s footprint currently extends to over 252 locations (including 28 airport counters) in 100 cities across India, Mauritius & Sri Lanka and is supported by a strong partner network of 133 Gold Circle Partners and 165 Preferred Sales Agents in over 150 cities across India.
Thomas Cook (India) Ltd has been honoured with The Most Trusted Brand in travel services by The Brand Trust Report™, India study 2012 and voted Favourite Specialist Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2011 & 2012. In addition, TCIL has been chosen as the Best Corporate Travel Management Company by World Travel Brands 2012, the Most Trusted Tour Operator Brand by the Times Travel Honours 2011 and also recognized as a “Consumer Superbrand” 2011-2012 by Superbrands for ‘Travel Smooth’.. The Company was also selected Retailer of the Year – Leisure & Holidays by ET NOW. At the recently concluded National Tourism Awards 2011-2012, TCIL was honoured with 3 prestigious awards: Special Award for endeavors in launching new tourism products and exemplary performance during the year 2011-12; Tour Operator Promoting Niche Segments other than Adventure and MICE and Award of Excellence: Best Tourism Promotion Publicity Material ‘Pure India – Luxurious Escapes’
Thomas Cook India’s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers”, 2012 & 2013.
ICRA has assigned a long term rating of ‘ICRA AA-/ Stable’ and CRISIL has assigned a long term rating of CRISIL AA-/ stable outlook, to the non convertible debenture program.
For more information, please visit www.thomascook.in
Thomas Cook (India) Limited is promoted by Fairfax Financial Holdings Limited through its wholly-owned subsidiary, Fairbridge Capital. Fairbridge is responsible for the execution of acquisition and investment opportunities in the Indian subcontinent on behalf of the Fairfax family of companies.
About Fairfax Financial Holdings Limited:
Fairfax Financial Holdings is a Toronto-based financial services holding company with a global presence in insurance and reinsurance and a portfolio of assets in excess of $30 billion invested worldwide. The Company, founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa, has over the past 25 years, demonstrated a strong financial track record to achieve an annual appreciation in Book Value per Share of 24.7% annually.
Fairfax has almost 20 general insurance subsidiaries and joint ventures globally, including ICICI Lombard (India). The portfolio also includes several market leading insurance companies such as Odyssey Re (USA), Crum & Forster (USA), First Capital (Singapore), Fairfax Brasil (Brazil), Gulf Insurance (Kuwait).
Fairfax is engaged in long term investments from its own resources, with a focus to delivering long term capital appreciation through a flexible and value oriented approach.
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