The Company’s Foreign Exchange business posted a 53% growth in Earnings Before Tax from Rs 317 Mn. in HY 2013 to Rs 485 Mn. in 2014.
Thomas Cook (India) Ltd today declared its consolidated Financial Results for the Half Year ended June 30, 2014 with an increase in Income from Operations of 163% (Rs. 3,933 Mn. to Rs. 10.3 Bn.), Profit Before Tax of over 65% (Rs. 533 Mn. to Rs. 877 Mn.) and consolidated Profit After Tax of 50% (Rs. 339 Mn to Rs. 508 Mn.),as compared to the corresponding Half Year 2013.
The diversified Thomas Cook India Group saw strong results with delivery of its core businesses of travel and foreign exchange and via Ikya Human Capital Solutions:
The diversified Thomas Cook India Group saw strong results with delivery of its core businesses of travel and foreign exchange and via Ikya Human Capital Solutions:
Foreign Exchange, MICE and Domestic businesses displayed a significant revenue growth of 26%, 34%, 113% respectively.
The Company’s Foreign Exchange business posted a 53% growth in Earnings Before Tax 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% 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% in both outbound and domestic segments
Ikya Group
At the Ikya Group level, the QTD Revenue has grown by 27% and EBITDA by 144% compared with same Quarter last year.
At the Ikya Group level, the QTD Revenue has grown by 27% and EBITDA by 144% compared with same Quarter last year.
Acquisition of 100% equity stake in industrial asset management company Hofincons Infotech and Industrial Services from Transfield Services Australia for ~Rs 500 Mn.
The Company reported QTD earnings before tax of ~Rs 200 Mn.
Commenting on the Results, Mr. Madhavan Menon, Managing Director, Thomas Cook(India) Ltd. said, “H1 2014 has seen significant business growth across the diversified Thomas Cook India Group, with an overall revenue increase of 163%;. IKYA delivering strong Quarter Results- a 27% increase in Revenue and an impressive 144% growth in EBITDA.”
He added, “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!”
With strong economic indicators and increasing consumer optimism, we look forward to an impactful FY 2014 for the Thomas Cook India Group!”
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