Thomas Cook (India) Q3 consolidated net loss narrows to Rs 25 crore

Travel services provider Thomas Cook (India) Ltd on Thursday reported narrowing of its consolidated net loss at Rs 24.59 crore for the third quarter ended December 2021.

The company had posted a consolidated net loss of Rs 66.24 crore in the same quarter last fiscal, Thomas Cook (India) said in a regulatory filing.

Consolidated total income from operations stood at Rs 750.25 crore, as compared to Rs 271.42 crore in the year-ago quarter.

Total expenses jumped to Rs 786.69 crore from Rs 360.75 crore earlier.

The lockdowns and restrictions imposed from time to time on various activities due to the COVID-19 pandemic have posed challenges to all the businesses of the company and its subsidiaries and associates, Thomas Cook (India) said.

While initial restrictions such as cessation of air traffic and other forms of public transport and closure of hotel operations have been relaxed over the past few quarters, the second and third waves of the pandemic have been a serious hindrance to normalisation of business in India and abroad, it added.

"However, the group has been able to restart some of its businesses in the foreign exchange and domestic ticketing and leisure travel segments in India," the company said, adding it expects operations to normalise in a phased manner once the confidence of corporates and travellers is fully restored.