Mumbai: 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 60%. The three pronged drive by the company – retail focus, product innovation and efficient working capital management has helped deliver this performance.”