Growing leisure travel business helped Thomas Cook India register a net profit increase of more than two-fold for the first quarter ended March 31, 2011.
The company's net profit for the quarter stood at Rs 4.83 crore (Rs 1.94 crore). Income from operations stood at Rs 65.2 crore (Rs 50.2 crore), a growth of close to 30 per cent.
Thomas Cook announced its financial results on Tuesday.
The company's revenues from its foreign exchange and insurance business grew by 26 per cent while revenues from the leisure travel business grew by 44 per cent.
“Expenditure was higher during the current quarter due to a one-time payout. Advertising costs rose in preparation of the oncoming holiday season and will equate over the next three quarters,” the company said in a statement.
Thomas Cook has also expanded its branch network across India with new counters at the Delhi and Mumbai airports. This expansion resulted in an increase in employee costs. The company went on to add in its statement that the forward bookings for outbound are higher by 23 per cent.