Thomas Cook India at 52-week high on 3-fold jump in profit

Mumbai: Shares of Thomas Cook India (TCIL) today surged by over 7 percent to a one-year high level in morning trade on the company’s robust third quarter earnings.

Shares of the travel services and foreign exchange provider jumped 5.93 percent to a 52-week high of Rs 66 on the BSE. On the NSE, the stock gained 7.28 per cent to a one-year high of Rs 67.

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Thomas Cook India (TCIL) on Thursday posted over three-time increase in consolidated net profit for the fourth quarter ended December 31, 2011 at Rs 5.04 crore compared to the corresponding period last year. The company’s net profit in the fourth quarter of last year was Rs 1.51 crore. For the full year 2011, Thomas Cook’s net profit increased 19.25 per cent to Rs 56.24 crore, against Rs 47.16 crore in 2010.

Earlier this month, the UK-based parent company Thomas Cook said it is looking to exit its India operations and use the funds to reduce its massive debt.

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