Thomas Cook stock rallies after healthy Q3 earnings due to rapid recovery

4 Feb 2022 , 01:58 PM

Thomas Cook (India) Limited (TCIL), India’s largest integrated travel services company, announced its financial results for the quarter ended December 31, 2021, reflecting a strong rebound despite the challenging environment.

The Group staged a rapid recovery during Q3 FY’22 turning operating EBITDA positive and reported a profit of Rs. 20.10 crore in Q3 FY22 Vs a loss of Rs. 57.40 crore in Q3 FY21. The results reflect a strong turnaround on a sequential basis as well against the Q2 FY22 loss of Rs. 73.8 crore.

The Thomas Cook India Standalone operating EBITDA loss for the quarter was Rs. 7.4 crore (loss of Rs. 27.2 crores in Q3 FY21) and includes one-off non-operational costs of Rs. 6.10 cr. This reflects the strong recovery that was witnessed in the current quarter.

Consolidated Revenue for the quarter grew 176% from Rs. 271.40 crore for Q3 FY21 to Rs. 750.20 crore and 114% on a sequential-quarter basis.
Company’s foreign exchange business delivered strong performance over the last quarter with an increase of 29% in transactions to 74,570 and a 72% increase as compared to Q3 FY’21. It witnessed 18% growth in retail turnover, 65% growth in corporate turnover, 56% growth in wholesale turnover, and Airport turnover of 75% over Q2 FY’22.

Resort revenues in Q3 FY22 reported a healthy increase of 69% to Rs. 68.8 crore as compared to Rs. 40.60 crore in Q3 FY21 from higher occupancies and higher realization of room rates.

Thomas Cook is currently trading at Rs66.05 up by Rs1.15 or 1.77% from its previous closing of Rs64.90. The scrip opened at Rs67.15 and has touched an intraday high and low of Rs70.15 and Rs65.55 respectively.