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Fairfax-owned Thomas Cook India’s net profit was down by 18.8 per cent in the third quarter of FY20 at ₹9.9 crore in comparison to a profit of ₹12.29 crore the same quarter last year.
Total income grew 12 per cent to ₹1,757 crore (₹1,569 crore). Its total expenses for the said quarter were ₹1,739 crore (₹1,574 crore).
Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd, who was reinstated as the MD for a period of five years during the board meeting that was held on Thursday, said, “Looking ahead, despite the geopolitical tensions and natural calamities unfolding including the Coronavirus outbreak, etc, we are cautiously optimistic and look to end the financial year on a strong note.”
The travel company’s revenues from travel and related services were down from ₹56.68 crore in Q3 FY19 to ₹36.06 crore in Q3 FY20.
Thomas Cook India also has a forex business which earned ₹20.72 crore this quarter as against ₹14.55 crore the same time last year.
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