Thomas Cook India Q4 net profit at Rs 13.08 crore

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Travel services firm Thomas Cook India May 27 reported a consolidated net profit of Rs 13.08 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 5,939.18 crore for the corresponding period of the previous fiscal, Thomas Cook India Ltd (TCIL) said in a filing to BSE.

TCIL's consolidated FY18 and FY19 results are not comparable as the former includes 11 months of Quess results, the company said in a statement.

"TCIL's FY18 consolidated results also include a one-time accounting gain of Rs 5.3 billion on account of the Quess deconsolidation," it added.

The company's consolidated income from operations stood at Rs 1,363.28 crore for the quarter. It was Rs 2,572.29 crore for the corresponding period a year ago.

For the fiscal year ended March this year, the company posted a net profit of Rs 88.83 crore. It was Rs 6,131.39 crore for the year-ago fiscal year.

Its consolidated income from operations stood at Rs 6,603.25 crore for the fiscal year ended March 2019. It was Rs 11,248.34 crore for the previous fiscal year.

Thomas Cook India Group Chairman and Managing Director Madhavan Menon said, "The strong all-round performance of the Thomas Cook India Group for FY19 demonstrates the width and diversification of the Group, not only across geographies, but business segments."

This is the result of a journey we embarked on since 2012, when Thomas Cook India's ownership transferred entirely from the British parent to Fairfax Financial Holdings, he added.

Giving the road map for the future, Menon said, "We will remain focused on continued investments in technology and analytics to deliver top-notch customer experience and driving economies of scale and efficiency from shared services and backend integration with a view to grow stakeholder value."

The company's board has recommended a final dividend in respect of equity shares at the rate of 37.50 per cent (i.e. Rs. 0.375 per equity share of Re 1 each) for the financial year ended March 31, 2019, TCIL said.

In a separate filing, TCIL said it has received letters from Travel Corporation (India) Ltd and SOTC Travel Ltd, its wholly owned subsidiaries, intimating that their step-down subsidiary Asian Trails International Travel Services (Beijing) Ltd has incorporated a new Joint Venture company named 'ATC Travel Services (Beijing) Ltd' in China in order to establish inbound business by investing in 70 per cent stake of that company.

Shares of Thomas Cook India Ltd closed at Rs 231.15 per scrip on the BSE, up 0.46 per cent from its previous close.