Q2 & H1 FY20 Earnings Presentation

Management comments- Q2 FY20 Commenting on the results, Mr. Madhavan Menon, Group Chairman and Managing Director, said: "This has been a challenging quarter for the travel industry with the collapse of Jet Airways leading to a surge in airfares, as well as the negative impact on customers and to the entire Indian Travel industry caused by the closure of Cox & Kings. Globally, the geopolitical unrest in Hong Kong & the Middle East, haze and heat in parts of South East Asia etc. impacted parts of our Outbound and DMS businesses. Also, being a fairly recent event - we continue to monitor the impact at a retail level, of the closure of Thomas Cook UK. Against this backdrop, the Group managed a credible performance with consolidated revenue from operations growing 6% to Rs. 17 Bn. from Rs. 16 Bn. for the period, while the consolidated PBT of the Group's Core Travel & Forex businesses increased 20% to Rs. 163 Mn. as against Rs.136 Mn. Our Financial Services businesses remained resilient, growing revenue by 4% and EBIT by 7% with sustained retail focus. Our E-Business vertical also performed admirably to post a revenue growth of 23%; as did our African & North American DMS units who registered impressive recoveries during the period. Looking ahead, given the approval by the Mumbai NCLT on October 10, 2019, the proposed demerger of TCIL's Human Capital business including Quess Corp shares to TCIL shareholders is proceeding as planned and should be completed later this year. This will be welcomed by stakeholders as it simplifies the group structure and offers both organisations the opportunity to chart their individual future growth paths, in their respective business spaces." 10 10 Thomas Travel Smooch Cook thomascook In

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