Thomas Cook (India) Limited announces strong Results for the Quarter ended June 30, 2017
- Thomas Cook India’s standalone results: PBT growth of 31% from Rs 321 Mn. to Rs 421 Mn.
- PBT (before exceptional items) for Thomas Cook India Group for CY 2017 grows by 17% over corresponding period previous year
- Quess reports PBT growth of 17% from Rs 382 Mn to 447 Mn.
Mumbai, August 9, 2017: Thomas Cook (India) Ltd. today declared strong Financial Results for the Quarter ended June 30, 2017 reflecting a robust performance by the standalone entity (31% increase in Profit Before Tax from Rs 321 Mn. to Rs 421 Mn.); Income from Operations grew by 15% from Rs 6863 Mn. to Rs 7886 Mn. The Leisure businesses registered a 23% growth in passenger numbers, while the Foreign Exchange business registered a 6% increase in revenue at an operating level.
Quess Corp Limited
The Company registered strong growth on all key parameters: Revenue growth of 19.9% from Rs. 9.9 Bn to Rs. 11.9 Bn; EBITDA up by 20.4% from ~Rs. 530 Mn to ~Rs. 630 Mn; a 17% increase in Profit Before Tax from Rs 382 Mn. to 447 Mn. and growth in PAT by 34.2%; Headcount grew by 53.2% to ~195,000 for the Quarter ended June 30, 2017 vs. the corresponding quarter of the previous year.
Sterling Holiday Resorts Limited
The Company’s operating income grew by 10% from Rs.722 Mn to Rs. 792 Mn in Q1 FY 18. Average Room Rent increased by 34% through better revenue management across various channels.
Thomas Cook India Group
On the back of this robust performance across its various businesses, the Group registered strong consolidated financial results with an increase in Income from Operations of 11% (Rs.24.8 Bn. to Rs. 27.6 Bn.); Earnings Before Interest & Tax growth of 11% (Rs 1381.1 Mn. to Rs 1535.3 Mn.); Profit Before Tax growth of 10% (Rs 1075.8 Mn. to Rs. 1182.7 Mn.), against the corresponding Quarter 2016.
Mr. Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd. said, “Despite continued geo-political challenges in key destination markets, we have seen significant growth across our Leisure segments. Our Shared Services Platform too is delivering well with overall increased efficiencies and productivity gains becoming visible.
We had begun preparations for the landmark GST roll out a year ago, and hence our transition was relatively smooth. While we do anticipate some short term challenges, given the magnitude of the changes it aims to bring about- we are positive that in the long term the GST environment will lead to a more organised market place.”
About Thomas Cook (India) Limited: Thomas Cook (India) Ltd. (TCIL) 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.
The Thomas Cook India Group spanning 21 countries across 4 continents, a team of over 198,500 and a combined revenue in excess of Rs. 8700 crore (over $ 1.34 billion), operates leading B2C and B2B brands including, Thomas Cook, SOTC, TCI, Sita, Asian Trails, Allied T Pro, Australian Tours Management, Desert Adventures, Kuoni Hong Kong, Luxe Asia, Private Safaris East & South Africa. The Group is today one of the largest travel service provider networks headquartered in the Asia-Pacific region.
ICRA has reaffirmed the long-term rating on TCIL’s non-convertible debenture programme at ‘ICRA AA/Stable’ and on the preference share programme at ‘ICRA AA–/ Stable’. CRISIL has reaffirmed the long term rating of ‘CRISIL AA–/ Stable’ on TCIL’s non-convertible debenture programme and long-term banking facilities, and the short-term rating of ‘CRISIL A1+’ on the banking facilities.
Thomas Cook (India) Ltd has been felicitated with The French Ambassador's Diamond Award for Exemplary Achievements in Visa Issuance 2015 & 2016; Condé Nast Traveller Readers' Travel Awards 2016 to 2011. Thomas Cook India’s Travel Quest was honoured at PATA Gold Awards 2015 and Thomas Cook India’s Centre of Learning has received IATA accreditation as Top 10 South Asia IATA Authorized Training Centers 2016, 2015, 2013 & 2012. 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 (Mauritius) Limited and its controlled affiliates which holds 67.66%. 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 Limited is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. The company was founded in 1985 by the present Chairman and Chief Executive Officer, Prem Watsa. The company has been under present management since 1985 and is headquartered in Toronto, Canada. Its common shares are listed on the Toronto Stock Exchange under the symbol FFH and in U.S. dollars under the symbol FFH.U.
The company, through Thomas Cook (India) Ltd., owns 62.17% of Quess Corp Limited (formerly IKYA Human Capital Solutions Limited), a provider of integrated business services, and 100% of Sterling Holiday Resorts Limited (formerly Thomas Cook Insurance Services (India) Limited), a company engaged in time share and resort business.
About Quess Corp Limited: Quess Corp Limited (BSE: 539978, NSE: QUESS), established in 2007, is India’s leading integrated business services provider. Based out of Bengaluru, Quess has a pan-India presence with 65 offices across 34 cities along with overseas footprint in North America, the Middle East and South East Asia. It serves over 1700+ customers across 4 segments namely, Global Technology Solutions, People & Services, Integrated Facility Management and Industrials. In FY17, Quess generated revenues of INR 4,157 Crores and has over 189,000 employees (including Terrier Security Services & Manipal Integrated Services). Quess has a Market Capital of over INR 10,000 Crores as on April 30, 2017. For more information, please visit www.quesscorp.com
About Sterling Holiday Resorts Limited: Sterling Holiday Resorts Limited, a leading holiday lifestyle company in India, was incorporated in 1986 with the vision of delivering great holiday experiences to Indian families. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling Holidays has an inventory of 2124 rooms across 32 resorts.
In March 2016, Sterling Holidays acquired ‘Nature Trails Resorts Private Limited’ - an adventure holiday company that operates resorts at four unique destinations in Maharashtra. For more information, please visit www.sterlingholidays.com
About SOTC Travel Private Limited: SOTC Travel Private Limited is a step-down subsidiary of Fairfax Financial Holdings Group; held through its Indian listed subsidiary, Thomas Cook (India) Limited (TCIL). SOTC is a leading travel and tourism company active across various travel segments including Leisure Travel, Incentive Travel and Business Travel.
TCIL through its Subsidiary holds100% stake in Travel Circle International Limited, which has an attractive business in the travel sector backed by a trusted brand name, and a stable and motivated professional management team. The company is a premium outbound travel operator in Hong Kong.