Shares of this small-cap stock providing travel services jumped up to 15 percent on Thursday after the company announced results for Q1FY23-24. In the last one month period, the company’s scrip rose nearly 38 percent from Rs 76.90 to the current price level.
With a market capitalization of Rs 5,000 crores, the stocks of Thomas Cook (NS:THOM) (India) Limited opened their trading hour today at Rs 108 and currently trade at Rs 105.
The scrip saw an intra-day high at a price of Rs 116.70 indicating a jump of around 15 percent compared to the previous close of Rs 101.50 apiece. The day-high price is also recorded as the company’s fresh 52-week high mark.
Such sharp movements in the company’s stock prices are witnessed post a filing published with the BSE on August 9th, 2023 announcing the financial results for the quarter ending June 2023.
The company, on a QoQ basis, the company reported decent growth in the primary business indicators such as the operating revenues and net profits with the former moving up from Rs 1,313 crores during Q4FY22-23 to Rs 1,899 crores during Q1FY23-24, and, the net profits, during the same time horizon, transitioned from a loss of Rs 11 crores to profits of Rs 73 crores.
Year-on-Year, the company has been successful in keeping the momentum on in the operating revenues with an increase from Rs 976 crores to Rs 1,899 crores representing a jump of around 95 percent. The net profits, in congruence with the pattern QoQ, shifted from losses of Rs 6 crores to profits of Rs 73 crores.
The latest shareholding pattern data of the company, for the June 2023 quarter, portray the Promoters holding a 72.34 percent stake followed by the Retail Investors holding a 16.77 percent stake in the company.
Domiciled in India, Thomas Cook (India) Limited is a travel and tourism company with business segments including Leisure Hospitality, Financial Services, and many other related services. The company generates a majority of its revenue from the “Travel” segment providing services associated with visa services, travel management, travel insurance, etc.
Written by Amit Madnani
The post Small Cap stock jumps up to 15% on strong Q1 show; Revenues increase 95% YoY appeared first on Trade Brains.