Thomas Cook (India) Limited announces strong Consolidated Results for the Quarter ended September 30, 2016

Chandigarh, October 26, 2016: Thomas Cook (India) Ltd today declared its consolidated Financial Results for the Quarter ended September 30, 2016, with an increase in Income from Operations of 57% (Rs. 13.3 Bn to Rs. 20.9 Bn); Earnings Before Interest & Tax grown by 160% (Rs. 283 Mn to Rs. 735 Mn); Profit Before Tax growth of 355% (Rs. 98Mn To Rs. 445 Mn) against the corresponding Quarter 2015.

Thomas Cook Travel Services
The combined travel businesses of Thomas Cook India with that of the newly acquired travel companies of SOTC, Sita and Kuoni Hong Kong, have delivered well for the Quarter with growth in Revenue from Operations by 125% (Rs. 4.2 Bn to Rs. 9.6 Bn) against the corresponding Quarter 2015.

Quess Corp Limited
The Company registered impressive growth on all key parameters: Revenue growth of 27% from Rs. 8.0 Bn to Rs. 10.2 Bn; EBITDA up by 51% from Rs. 402 Mn to Rs. 608 Mn; expansion in EBITDA margin from 5.0% (Q2FY16) to 5.9% (Q2FY17).

Sterling Holiday Resorts Limited
The Company registered a strong 24% growth in Income from Operations from Rs.444 Mn to Rs.549 Mn, driven by significant growth in its Resorts segment (increase of 38% in the room nights sold; 50% in Resort Income; increase in occupancy from 46% to 55% in a lean season, on an increased available room base). In a continuous endeavour to launch new destinations, the company has opened a new resort at Anaikkati (near Coimbatore, TN) in September, 2016.

Commenting on the results of the Group, Mr. Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd. said, “Despite challenges both economic and geo-political, including acts of global terrorism, negative sentiment due toimplementation of Schengen visa biometrics, the Brexit referendum andthe European migrant crisis, the Thomas Cook India Group has delivered strong results this Quarter.Our Foreign Exchange business has come through significantly, with growth in volumes and expanded margins. The Quarter has also seen strong performances from both our E-Business and Domestic Travel verticals with impressive growth in passenger numbers.”

He concluded by stating, “We plan to leverage backend synergies courtesy our acquisitions of SOTC, SITA and Kuoni Hong Kong, for which work has already commenced, and we expect to see benefits of costs and productivity accruing across our Travel and Travel Related Services Group starting Quarter 1 of 2017.”