Thomas Cook India posts Rs 4.26-cr Q2 net, says global unrest affected biz

Travel services provider Thomas Cook (India) Ltd on Thursday reported a consolidated net profit of Rs 4.26 crore in the second quarter ended September 30.

The company had posted a consolidated net loss of Rs 6.25 crore in the same quarter last fiscal, Thomas Cook India said in a regulatory filing.

Total income from operations stood at Rs 1,747.59 crore as compared to Rs 1,611.15 crore in the corresponding period of last fiscal, it added.

The company said a challenging operating environment with continuing weak consumer sentiment had impacted the travel segment primarily in the outbound and domestic businesses.

Commenting on the financial performance, Thomas Cook (India) Ltd Chairman and Managing Director Madhavan Menon 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 and the Middle East, haze and heat in parts of South East Asia etc impacted parts of our outbound and DMS (destination management specialists) businesses," he further said.

The company said the spin off of its human capital business including Quess Corp shares to Thomas Cook India shareholders is proceeding as planned and expected to be completed later this year.