 "Travel firm Thomas Cook India fourth quarter loss widens to Rs 20 crore")
Travel services provider Thomas Cook India has reported widening of consolidated net loss to Rs 20.23 crore for March quarter 2020-21, impacted by the pandemic.
The company posted a net loss of Rs 13.90 crore for the year-ago period, Thomas Cook said in a late night regulatory filing on Thursday.
Total income from operations stood at Rs 401.64 crore in the quarter under review. It was Rs 1,109.02 crore in the same period a year ago.
For 2020-21, the company posted a net loss of Rs 295.19 crore as against a loss of Rs 17.65 crore in the previous year, Thomas Cook India Ltd (TCIL) said.
Total income from operations stood at Rs 945.74 crore in the year. It was Rs 6,948.30 crore in 2019-20, it added.
"We are already seeing positive signs with the tapering of infection rates globally and travel reopening in select countries, albeit in an understandably careful and calibrated manner," TCIL Chairman & MD Madhavan Menon said.
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This augurs well for the revival of the sector, with indications of international restart for India possibly around third quarter of 2021-22, he added.
"Fresh funding of Rs 4,357 mn (Rs 435.7 crore) from our parent Fairbridge Capital through preferential allotment of OCCRPS will help TCIL strengthen its balance sheet and leverage opportunities when travel demand returns," Menon said.
OCCRPS stands for optionally convertible cumulative redeemable preference shares.
Shares of TCIL were trading at Rs 58.20 per scrip on BSE, down 4.98 per cent from its previous close.