TCIL ANNOUNCES RECORDS GROWTH Q2 RESULTS
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Thomas Cook (India) Ltd recently declared its consolidated Financial Results for the Half Year ended June 30, 2014 with an increase in Income from Operations of 163 per cent (Rs. 3,933 Mn. to Rs. 10.3 Bn.), Profit Before Tax of over 65 per cent (Rs. 533 Mn. to Rs. 877 Mn.) and consolidated Profit After Tax of 50 per cent (Rs. 339 Mn to Rs. 508 Mn.), as compared to the corresponding Half Year 2013.
Foreign Exchange, MICE and Domestic businesses displayed a significant revenue growth of 26 per cent, 34 per cent, 113 per cent respectively. The Company’s Foreign Exchange business posted a 53 per cent growth in Earnings Before Tax (EBT) from Rs. 317 Mn. in HY 2013 to Rs. 485 Mn. in 2014. The Inbound business saw a strong growth in H1 2014, with EBT growth of 37 per cent courtesy delivery from both its Charter and non Charter businesses and contributions from new emerging source markets. The MICE business delivered impressive EBT growth of 101 per cent in both outbound and domestic segments.
Commenting on the Results, Madhavan Menon, Managing Director, Thomas Cook (India) said, “H1 2014 has seen significant business growth across the diversified Thomas Cook India Group, with an overall revenue increase of 163 per cent. The new Government’s pro-tourism focus and the strategic tourism initiatives including infrastructure and technology via Budget 2014-15, augur well for our travel and foreign exchange businesses; the announcement of eVisas giving a further fillip to the upcoming Inbound season. With strong economic indicators and increasing consumer optimism, we look forward to an impactful FY 2014 for the Thomas Cook India Group.”