Thomas Cook spurts on buyback plan

Thomas Cook (India) surged 13.75% to Rs 46.75 after the company said its board will consider share buyback on 26 February 2020.

In an exchange filing made before market hours today, the travel agency company said a meeting of the board of directors of the company is scheduled on Wednesday, 26 February 2020, to consider buyback of equity shares.

The company's consolidated net profit slipped 29.7% to Rs 6.46 crore despite an 11% increase in net sales to Rs 1,727.02 crore in Q3 December 2019 over Q3 December 2018.

Consolidated profit before tax fell 16% to Rs 18.17 crore in Q3 December 2019 as against Rs 21.64 crore in Q3 December 2018. The drop in consolidated PBT is attributable to a timing difference, due to the demerger exercise which led to delays in invoicing by the Inbound business. This is expected to be normalised in Q4 FY20, the company had informed.

Thomas Cook (India) provides travel and travel related financial services. The services of the company include foreign exchange, corporate travel, insurance, visa and passport services, gift cards, hotel bookings, flight ticket bookings, tour packages and electronic business.

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