The Hindu Business Line : Thomas Cook Q2 standalone net up

Mumbai, July 31 On the back of soaring sales from new products launched for the domestic and MICE (meetings, incentives, conferences and exhibitions) market, Thomas Cook India’s (TCIL) standalone net profit grew by 60 per cent for the second quarter ended June 30, 2008.

The net profit of the company stood at Rs 16 crore against Rs 10 crore in the same quarter last year.

Total income of the company also rose by 17 per cent to Rs 76 crore (Rs 65 crore).

Net revenue from operations witnessed a 19 per cent growth to Rs 75 crore (Rs 63 crore) primarily led by income from travel and related services which was Rs 688 crore (Rs 566 crore). However, financial services on a standalone basis saw a slight dip to Rs 63 crore (Rs 66 crore).

Tie-ups

The new products included a tie-up with Bajaj Allianz for providing life insurance through various TCIL branches.

The company launched a Post-Graduate Programme in Business Management in Tourism in association with Narsee Monjee Institute of Management Studies.

Hotels4u

It also launched a product called Hotels4u, giving real-time access to over 30,000 hotels on its portal www.thomascook.in.

The travel company’s expenditure for the said quarter was Rs 43 crore (Rs 40 crore).

Synergies

On a consolidated basis, Thomas Cook’s net profit surged 17 per cent as the synergies from integration of Travel Corporation of India (TCI) and LKP Forex into the company showed results, said the spokesperson of the travel company.

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