Asset sale pulls down Thomas Cook India net

Our Bureau Updated - November 16, 2017 at 02:06 PM.

Thomas

Thomas Cook India posted a net profit of Rs 1.11 crore for the quarter ended March 31 down 77 per cent from Rs 4.83 crore in the corresponding period last year.

The results of the travel firm were primarily impacted by a net gain from asset sale in the year-ago period.

The firm's advertising expenditure increased 40.8 per cent to Rs 12.32 crore against Rs 8.75 crore during the quarter.

“In anticipation of the upcoming holiday booking season, strong focus on advertisement and marketing was required, resulting in an increase in spend of 40 per cent over the previous year,” the company said in a statement.

The consolidated net sales for the first quarter increased 4.75 per cent to Rs 81.92 crore against Rs 78.20 crore in the corresponding period last year. The company had a consolidated other income of Rs 60 lakh in the quarter ended March 31 compared with Rs 8.80 crore in the previous quarter.

Last year, the company had a gain of Rs 7.6 crore from sale of its assets.

In February, the company's parent firm Thomas Cook Group Plc had announced the launch of formal sale process for its 77.1 per cent shareholding in Thomas Cook India.

The company's scrip closed at Rs 63.60 a share, down 2.38 per cent from the previous close on the Bombay Stock Exchange.

>niveditag@thehindu.co.in

Published on April 27, 2012 16:16