Thomas Cook delights with a 13% growth in PAT in the third quarter
For the third quarter ended on July 31, 2003, Thomas Cook (India) Ltd, the leading travel and financial services provider closed its books of accounts on a profitable note.
The company registered net revenue of Rs 27.35 crore for the third quarter, 4 percent above corresponding quarter last year. Profit after tax for the quarter is posted at Rs 6.16 crore, an increase of 13 percent over the corresponding period last year. On the year to date basis, the profit after tax for the nine month period stands at Rs 14.96 crore as compared to Rs 16.61 crore for the corresponding period last year. (This was due to the down turn in the industry in quarter two, due to the Gulf war and the SARS.)
Leaving behind the shadows of the Gulf war and the SARS, "all our businesses pushed for opening up new avenues and did see an increase in sales over the corresponding period last year," says Ashwini Kakkar, CEO & MD, Thomas Cook (India) Ltd. "It all depends on how a company views a situation. For some it was a threat, for us it was an opportunity," he adds.
The opportunities were the new markets and the varied business promotions that Thomas Cook has been exploring. The Leisure Travel division introduced new tours to China, Japan, Scandinavia, East Europe, South Africa and Kenya, thus covering all the 5 continents. "We also saw a surge in traffic to closer-by destinations like Sri Lanka, Mauritius and Maldives," informs Kakkar.
The company is upbeat about the growth in its inbound business from Germany and UK, and the outlook for the coming winter season is bright. The Company has also won new business from Belgium, Netherlands and some former CIS countries and bookings from existing tour operators are already showing an increase over last season.
The company has also embarked on an ambitious technology programme which includes a full fledged website, www.thomascook.co.in and a 24-hour Call Centre as also the implementation of SAP: Enterprise Resource Planning Software, VSAT & Leased Line connectivity across all its branches and other related additions in the technical arena.
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