Shares of this small-cap company jumped around 5 percent in Thursday’s trading session after reporting an increase in net profits by 241 percent YoY. The shares have delivered a multibagger return of 113 percent to its investors in six months.
With a market capitalisation of Rs. 8,475 crores, the shares of Thomas Cook (India) Ltd started Thursday’s trading session on a higher note at Rs. 177.20 compared to its previous close of Rs. 172. During the trading session, the shares hit a high of Rs. 182.95, gaining around 5 percent and are currently trading at Rs. 178 apiece.
Such a bullish movement in the share price was observed after the company announced its quarterly results. Looking at the consolidated financial statements published by the company, the revenue increased marginally by 3 percent from Rs. 1,843.42 crores during the September quarter to Rs. 1,893.13 crores during the December quarter. In addition, the net profits zoomed by 76 percent from Rs. 51.5 crores to Rs. 90.53 crores during the same period.
Comparing these metrics on a YoY basis, the revenue increased by 23 percent from Rs. 1,536 crores during Q3FY23 to Rs. 1,893.13 crores during Q3FY24. On the other hand, the net profits magnified by 241 percent from Rs. 26.54 crores to Rs. 90.53 crores during the same timeframe.
The company aims to have 50 to 52 resorts by the end of FY24, primarily through asset-light expansion. Moreover, the company has partnerships in Saudi Arabia and plans to launch new locations there. Earlier, the company also launched “WhatsApp Forex” as a new sales tool, allowing customers to transact on WhatsApp.
According to the BSE data, Ace Investor Mr Mukul Agrwal, entering the stock in December 2022, currently holds 50 lakh equity shares equivalent to a 1.06 percent stake in this company. The current holding value of his investment amounts to Rs. 88.9 crores.
Headquartered in Mumbai, Thomas Cook (India) was incorporated in 1978. The company offers a broad spectrum of services that include Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Visa and Passport services, and E-Business.
Written By Vaibhav Patil
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