IIFL maintains buy on Thomas Cook India, target price Rs 235
Buy Thomas Cook (India) Ltd. at a price target of Rs 235.0 .
For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 2317.55 crore, up 70.00 % from last quarter sales of Rs 1363.28 crore and up 11.18% from last year same quarter sales of Rs 2084.52 crore. The company has reported net profit after tax of Rs 16.42 crore in the latest quarter.
Despite a challenging external environment, Thomas Cook expects its travel and forex segments to hold steady in FY20 and report modest growth in combined Ebit, said the brokerage. The newly acquired DEI is also expected to clock a steady performance, however, Sterling Holidays is likely to remain unprofitable for at least the next couple of years, said the brokerage.