The Hindu Business Line : Thomas Cook income up in Q1 on strong performance

Thomas Cook India posted a net profit growth of 12 per cent to Rs 2.7 crore for the first quarter ended March 31, 2008, against Rs 2.4 crore for the same period a year ago on a standalone basis. The growth was led by a strong performance across all its business segments — foreign exchange, leisure and corporate travel — said a statement.

Total income has risen by 20 per cent to Rs 57.9 crore (Rs 48.2 crore). While revenues from financial services offered by Thomas Cook grew by 24 per cent to Rs 13.8 crore (Rs 11.1 crore), travel and related services growth was recorded at 19.8 per cent to touch Rs 42.8 crore (Rs 35.7 crore) in the said quarter.

Mr Madhavan Menon, Managing Director, said in a statement, “The company has registered a considerable amount of growth in the top line. Both the revenue and profitability have risen by leveraging on the expanded network and improving operating margins owing to the strong synergy between TCIL and LKP Forex Ltd.”

On March 7, 2008, Thomas Cook Group plc announced that it has agreed to acquire 54.42 per cent of the paid-up equity share capital of the company and will also make an open offer to acquire up to a further 20 per cent.

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