Thomas Cook slips on weak Q2 earnings

Net profit for Sep 2015 quarter declined 36% to Rs 18.2 crore

Shares of Thomas Cook (India) were down nearly 3% at Rs 202 on the Bombay Stock Exchange after the company's consolidated net profit for the quarter ended September 30, 2015 declined 36% to Rs 18.2 crore compared with Rs 28.7 crore for the corresponding quarter last fiscal because of higher interest costs.

Interest costs surged 53% to Rs 19 crore compared with Rs 12.4 crore in the same quarter last fiscal due to increased working capital requirements, the company said in a release.

However, consolidated income from operations increased 58% to Rs 964.8 crore compared with Rs 609.5 crore in the quarter ended September 30,2014 on the back of strong delivery from its key travel business lines viz. corporate travel, MICE and outbound leisure coupled with that of Sterling Holidays and Quess Corp.

The stock opened at Rs 205 and touched a low of Rs 200. At 1:30pm, over 113,000 shares traded on both the stock exchanges.