 "Thomas Cook net profit grows 77%")
Thomas Cook reported 77% increase in consolidated net profit for quarter ended September on the back of increase in revenue from its travel and foreign exchange business and income from Ikya, its subsidiary and a staffing solutions company. Net profit grew from Rs 10 crore to Rs 17.8 crore in second quarter FY14.
On a standalone basis the net profit was flat but operating profit grew 23%. despite the quarter being a lean season for travel, rising airfares and devaluation of rupee. The company announced expansion of its retail stores adding 27 new outlets and counters in two malls in Kerala and Goa. The company also expanded international network adding outlets in Sri Lanka, Nepal and Mauritius.
The company said its forward bookings show a growth of 20% benefited by stable rupee and launch of innovative travel products.