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Thomas Cook (India) fiscal Q4 profit falls YOY

Thomas Cook (India) Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 12 Indian paise per share, a decrease of 76.1% from 51 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.6 million rupees, a decrease of 79.1% from 146.5 million rupees in the year-earlier period.

The normalized profit margin dropped to 0.4% from 2.0% in the year-earlier period.

Total revenue rose 16.4% on an annual basis to 8.65 billion rupees from 7.43 billion rupees, and total operating expenses climbed 20.4% year over year to 8.48 billion rupees from 7.04 billion rupees.

Reported net income came to a loss of 10.1 million rupees, or a loss of 4 paise per share, compared to income of 181.7 million rupees, or 63 paise per share, in the prior-year period.

For the year, the company's normalized net income totaled 3.19 rupees per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 4.57 rupees.

EPS rose 13.7% from 2.80 rupees in the prior year.

Normalized net income was 806.6 million rupees, a decline from 816.2 million rupees in the prior year.

Full-year total revenue rose 15.7% from the prior-year period to 27.65 billion rupees from 23.90 billion rupees, and total operating expenses grew 17.7% year over year to 25.85 billion rupees from 21.96 billion rupees.

The company said reported net income fell 5.7% on an annual basis to 859.5 million rupees, or 3.39 rupees per share, in the full year, from 911.6 million rupees, or 3.13 rupees per share.

As of May 29, US$1 was equivalent to 63.76 Indian rupees.