November 7, 2017 TnH Global

Thomas Cook (India) Ltd. Group announces strong results for the Quarter ended September 30

Growth in total income from Operations of 27% from Rs. 21192 Mn. to Rs. 26906 Mn.
Profit After Tax increases from Rs. 200 Mn. to Rs. 740 Mn.
GST implementation impacts retail, B2B travel businesses
Post-acquisition, results of the Kuoni Global Destination Management (DMS) network across 17 countries, factored for the first time in this quarter

The Thomas Cook (India) Ltd. Group today declared strong consolidated Financial Results for the Quarter ended September 30, 2017, with a growth in total Income from Operations of 27% from Rs. 21192 Mn. to Rs. 26906 Mn. and a PAT increase from Rs. 200 Mn. to Rs. 740 Mn.

Thomas Cook (Travel Services Group):

The Travel Services Group (excluding Quess & Sterling) registered a 31 % growth in Revenue from Operations from Rs. 10235 Mn. to Rs. 13433 Mn. The period saw the acquisition of Kuoni’s global Destination Management (DMS) network across 17 countries being completed and factored for the first time, into the results of this quarter.

Against the backdrop of the quarter being the traditional lean period for many of the travel businesses, the turbulence post GST implementation (with resultant short term impacts felt across both retail and B2B clients causing softened sale closures) factoring in the cost of acquisition of Kuoni’s global DMS network and one-time gains taken in the same quarter last FY, the Travel Services Group registered an EBIT of Rs. 189 Mn. against Rs. 478 Mn. in the same period last year.

Quess Corp Limited:

Revenue grew 25.2% to Rs. 1,2740 Mn. from Rs. 1,0177 Mn., EBITDA grew 20.5% to Rs. 665 Mn. from Rs. 551 Mn. PAT grew 366.7% to Rs. 1406 Mn. from Rs. 301 Mn.

Sterling Holiday Resorts Limited:

Room nights and resort revenues grew by 11% & 10% respectively, in spite of nil occupancy in Darjeeling and Gangtok resorts, due to regional disturbances. The EBITDA loss reduced, due to various cost rationalization initiatives undertaken. The company opened a new jungle resort in Kanha, MP and another Greenfield resort at Wayanad, North Kerala. For the half year ending Sep 17, resort income grew 17% over the same period last year.

Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd. said, “The mid and long term growth opportunity in travel – from and to Asia, is crystal clear. To leverage this opportunity, our focus remains on 1) Risk Diversification – with our acquisition of Kuoni’s global Destination Management network across 17 countries 2) Consolidation – via our just completed acquisition of Tata Capital’s Travel & Forex businesses and c) Productivity – with increasing investments in technology across digitization, automation and analytics. This three pronged strategic approach, will ensure we are in the best position to leverage the global network we have created, to maximize stakeholder value.”