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IIFL maintains buy on Thomas Cook India, target price Rs 235

Buy Thomas Cook (India) Ltd. at a price target of Rs 235.0 .|
Updated: Oct 15, 2019, 08.07 AM IST
IIFL has maintained a buy rating on Thomas Cook India in the long term with a target price of Rs 235. Shares of Thomas Cook lost 1.4% to Rs 137.50 while the BSE Sensex closed 87.39 points up at 38,214.47.

Company Financials

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.

Investment Rationale

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.
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Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

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