Thomas Cook India Q1 net profit at Rs 20.73 cr

Travel services firm Thomas Cook India on Tuesday reported a consolidated net profit of Rs 20.73 crore for the quarter ended June 30, 2019.

The company had posted a net profit of Rs 69.69 crore for the corresponding period of the previous fiscal, Thomas Cook India said in a BSE filing.

The company's consolidated total income from operations stood at Rs 2,335.70 crore for the quarter under consideration. It was Rs 2,100.41 crore for the same period a year ago, it added.

Results for the quarter ended June 30, 2019 include the operations of Digiphoto Entertainment Imaging (DEI) and hence not comparable with earlier periods, Thomas Cook India said.

Given an accumulated impact of over Rs 15.3 crore to profitability on account of multiple challenges ranging from the shutdown of Jet Airways' operations during the peak summer travel season resulting in unnaturally high airfares, terrorist attacks in Sri Lanka and the negative accounting impact of Ind AS 116, Thomas Cook India Group has delivered well for the quarter, Thomas Cook (India) Ltd Chairman and MD Madhavan Menon said.

"Given the anticipated headwinds in the larger economy and travel sector, we are focusing our energies on capital conservation/protection - while our organisation wide initiatives on improved customer experience and product/technology innovation continue unabated," he added.

Shares of Thomas Cook (India) Ltd closed at Rs 179.25 per scrip on the BSE, up 3.40 per cent from its previous close.