Thomas Cook India profits jump 69%
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Thomas Cook India has posted a strong set of financial results for the most recent quarter.
The company generated an operating profit of INR9.3 billion (US$145 million) in the three months to 30 June 2015, up 69% year-on-year. After tax and other charges, the company’s profit stood at INR420 million.
Several areas of the Thomas Cook India business posted strong growth during the quarter, including MICE (+29%), outbound leisure (+11%), domestic (+24%), online (+40%) and corporate travel (+11%).
“Our summer season was healthy with strong growth in passenger numbers led by our FIT segment,” said Madhavan Menon, managing director of Thomas Cook India. “The growth was powered by the launch of a range of innovative products that served to target key potential and emerging segments. The quarter ended June 30 2015 has seen significant revenue growth across the diversified Thomas Cook India Group.”
The company’s subsidiaries also saw strong growth, with Quess Corp’s earnings rising 49% to INR350 million and Sterling Holiday Resorts achieving a profit of INR6.8m for the quarter.
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