Thomas Cook (India) Limited announces strong consolidated Results for the 12 Months ended December 31, 2014
Income from Operations growth of 84%
Profit Before Tax growth of 57%
Earnings Before Interest and Tax growth of 55%
Profit After Tax growth of 60%
Mumbai Jan 30, 2015: Thomas Cook (India) Ltd today declared its consolidated Financial Results for the 12 months ended December 31, 2014 with an increase in consolidated Income from Operations of 84% (Rs 12.9 Bn. to Rs 23.9 Bn.), consolidated Profit Before Tax of over 57% (Rs 1.0 Bn. to Rs. 1.6 Bn.) and consolidated Profit After Tax of 60% (Rs 687.3 Mn to Rs 1.1 Bn), as compared to the corresponding period of 2013.
The diversified Thomas Cook India Group saw strong results with delivery of its core businesses of Travel and Foreign Exchange, Quess Corp Limited (formerly IKYA Human Capital Solutions Limited) and Sterling Holiday Resorts (India) Ltd
Thomas Cook India Business Highlights:
The Foreign Exchange business’ strategic focus on Payment Solutions resulted in noteworthy delivery- the Company’s multi currency Borderless Prepaid Card registering impressive growth of 70%, ending the 12 month period with a loaded value of over US$ 450 Mn. and a market share of aprox. 14%, making it the largest non bank player in the space. Sustained focus on its online channel saw an impressive increase of over 300% in Forex online transactions in the Year 2014 and the Company’s expanded EBiz platform delivered a significant online B2C sales growth of over 61% vs the same period for the Year ended Dec 31, 2013.
Other Group companies also delivered impressively:
Quess Corp Limited (formerly Ikya Human Capital Solutions Limited)
The company staffing strength grew up by 47% during the year 2014.
Quess Corp completed three acquisitions in 2014.
Sterling Holiday Resorts (India) Limited
Consolidated PBT of Rs 82 Lakhs for the quarter ended December 31, 2014 is significant, indicating delivery of an effective turnaround strategy by its leadership team.
Commenting on the Results, Mr. Madhavan Menon, Managing Director, Thomas Cook (India) Ltd. said, “The 12 months ended December 31, 2014 has seen significant business growth across the diversified Thomas Cook India Group, with an overall Income from Operations increase of 84% and Profit After Tax of
Thomas Cook (India) Ltd has been voted as Best Tour Operator - Outbound at the CNBC AWAAZ Travel Awards 2014 & 2013 and Best Company providing Foreign Exchange at the CNBC AWAAZ Travel Awards 2014; honored as ‘India's Leading Tour Operator’ for the year 2014, at the 21st Annual World Travel Awards Asia & Australasia 2014, Best Tour Operator at the Lonely Planet Travel Awards 2013, Favourite Tour Operator at the Condé Nast Traveller Readers' Travel Awards 2014, 2013, 2012 & 2011 and recognized as a “Consumer Superbrand” 2013-14 & 2012-2013. In addition, TCIL has been chosen as the Best Corporate Travel Management Company by World Travel Brands 2012. At the National Tourism Awards 2012-2013, TCIL was the recipient of 3 prestigious awards. Thomas Cook India’s Centre of Learning has received IATA accreditation as “Top 10 South Asia IATA Authorized Training Centers”, 2013 & 2012. For more information, please visit www.thomascook.in
About Fairfax Financial Holdings Limited:
Fairfax Financial Holdings Limited is a Toronto-based financial services holding company with a global presence in insurance and reinsurance and a portfolio of assets in excess of $38 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).
About Quess Corp Limited (formerly IKYA Human Capital Solutions Limited)
Quess Corp Limited is a market leading business services entity with interests in Asset Management, IT Services and HR services. Headquartered in Bangalore, the Group has more than 80000 employees, operates in 27 cities in India, the North America, Middle East and South East Asia. The group has grown through a series of acquisitions in the last seven years and has INR 2,200 crores as revenue. Quess Corp Limited is a subsidiary of Thomas Cook (India) Ltd. For more information visit: http://www.quesscorp.com/
About Sterling Holiday Resorts (India) Limited:
Sterling Holiday Resorts (India) Limited, a pioneer in vacation ownership and a leading leisure hospitality company in India, was incorporated in 1986 with the vision of delivering great holiday experiences to Indian families. Sterling Holidays’ network includes 1634 rooms across 21 resorts in 18 scenic holiday destinations pan India. The company also has 15 additional sites where it plans to add new resorts in the coming years. The company also plans to add new resorts to 15 additional sites.
For more information visit: www.sterlingholidays.com