Mumbai: Thomas Cook (India) today reported 11 percent growth in net profit for the April-June period at Rs 36.06 crore, compared to the same period of last year, on the back of strong performance of core businesses of travel and foreign exchange.
The company's net profit stood at Rs 32.47 crore during the same quarter of last year, it said in a release here.
The company's revenue went up by 16 percent to Rs 150.68 crore during the period under review compared to Rs 129.62 crore in the corresponding period of last year.
Thomas Cook (India) Managing Director Madhavan Menon said, "The new government's pro-tourism focus and the strategic tourism initiatives, including infrastructure and technology via Budget 2014-15, augur well for our travel and foreign exchange businesses. The announcement of eVisas giving a further fillip to the upcoming Inbound season. With strong economic indicators and increasing consumer optimism, we look forward to an impactful FY2014."
The first half of 2014 has seen significant business growth across the diversified Thomas Cook India Group, with an overall revenue increase of 163 percent, he said.
"IKYA is delivering strong Quarter Results- a 27 percent increase in revenue and an impressive 144 percent growth in EBITDA," he added.
Foreign Exchange, MICE and Domestic businesses displayed a significant revenue growth of 26 percent, 34 percent, 113 percent, respectively, in the first six months.
The company's foreign exchange business posted a 53 percent growth in earnings before tax from Rs 31.7 crore in HY 2013 to Rs 48.5 crore in 2014.
