Thomas Cook (India) rises on Q3 profit surge

Thomas Cook (India)

01/02/2024 05:23

** Shares of Thomas Cook (India)  THOM.NS  up 3.4% to 178.4
rupees 
    ** Integrated travel services company reported a more than
four-fold jump in consolidated net profit to 823.9 mln rupees 
($10 million)
    ** Income from operations rose 23.2%
    ** THOM to benefit from post-pandemic structural tailwinds,
driven by increased demand in both business and leisure travel -
Systematix Institutional Equities 
    ** Adds, expect business to grow at 27% CAGR over FY23-26,
with margins improving from 0.2% in FY23 to 5% in FY26E
    ** Stock has been trading above its 100- and 200-day moving
avg since June 
    ** THOM on track for a second consecutive week of gains, if
trends hold
    
 
 
 
 
    
 
 
 
($1 = 82.9710 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))