Thomas Cook (India) Limited (TCIL) has declared its consolidated third quarter results yesterday.
The tour operator has seen an increase in profit from operations of 80% (INR210 million to INR279 million) and a Profit After Tax of over 77% (INR100 million to INR178 million) respectively, for the three month period ending 30 September 2013 as compared to the same period in 2012.
Thomas Cook India has also continued on its planned expansion strategy, via a combination of owned shops and franchisee partners, adding 27 new outlets to the company’s network, in addition to the launch of two new mall counters at Lulu Mall in Kochi and Osia Mall in Goa. The expansion strategy aims to improving the company’s presence to rapidly growing tier II and III towns like Erode, Tumkur, Bhilwara and Dhanbad, in addition to enhancing presence in metros with new outlets in Mumbai, New Delhi, Kolkata and Pune.
Commenting on the results, Madhavan Menon, managing director of Thomas Cook (India) Limited said, “Given that this quarter has always been the leanest period for our core travel businesses and that this quarter was exacerbated by poor economic indicators & customer sentiment plus an unprecedented, rapid devaluation of the Rupee and higher airfares that combined to significantly impact the entire industry.”