04 Feb , 2025 By : Debdeep Gupta
Thomas Cook shares dropped over 12 percent on February 4, a day after the company announced its Q3 FY25 earnings results. The company reported a major decline of nearly 40 percent in its Q3 net profit during the post-market hours of February 3.
Shares of Thomas Cook (India) Ltd are trading at Rs 143.95 apiece, as seen at 11.24 am. This marks a decline of 12.01 percent from the stock's previous closing price.
Thomas Cook's consolidated results for the quarter ended December 2024 reflected higher sales, with an increase of 8.87 percent to Rs 2,061.01 crore, as against Rs 1,893.13 crore in the same quarter of the previous year (December 2023).
Despite the rise in sales, the company experienced a significant decline in net profit, which dropped by 39.82 percent to Rs 49.58 crore in the quarter ended December 2024, from Rs 82.39 crore in the corresponding quarter of the previous year. Therefore, higher sales did not translate into proportional profitability, possibly due to increased costs or reduced margins.
In another exchange filing, the company notified that Madhavan Menon, chairperson of Thomas Cook India, has been redesignated as non-executive chairman of the board of the travel company. In its filings to BSE on Monday, the travel company said that he will change from his current role starting 1 June.
Menon was re-appointed as executive chairman of the company for another term of five years, back in July 2023. However, the board has now redesignated him as non-executive chairman upon his having requested the same.
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