 "Over the last few days, Thomas Cook India has scrambled to distance itself from its erstwhile parent. It has issued advertisements and clarifications that the name was all that the two companies shared")
Tour operator Thomas Cook India will not pay dividend for FY20 to its shareholders as a part of its Rs 300 crore cash saving plan.
Global travel industry has been hit due to travel bans and quarantine measures imposed by states to restrict the spread of Covid-19.
Thomas Cook pre-tax loss on standalone basis widened to Rs 83.50 crore in fourth quarter FY 2020 compared to Rs 23.80 crore during same period due last year, the company said in stock exchange filing late on Thursday evening. A one time stamp duty payment of Rs 25 crore contributed to the loss.
