Financial Daily from THE HINDU group of publications
Friday, Aug 23, 2002
Financial Daily from THE HINDU group of publications Friday, Aug 23, 2002 |
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Corporate Results
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Financial Services Thomas Cook Q3 net up Our Bureau
MUMBAI, Aug. 22 THOMAS Cook (India) Ltd has reported a 56 per cent increase in its net profit at Rs 5.44 crore for the third quarter ended July 31, 2002 as compared to Rs 3.49 crore in the year-ago period. This is despite the global economic recession post-September 11, 2001 and the slump in the travel and tourism industry in India on account of the war threat. Income from operations was Rs 25.83 crore (Rs 23.27 crore). Other income was Rs 0.45 crore (Rs 0.53 crore). Interest cost rose to Rs 0.37 crore (Rs 0.05 crore). For the nine-month period, Thomas Cook reported a 19 per cent increase in revenue at Rs 78.45 crore (Rs 64.49 crore) and a 102 per cent increase in net profit at Rs 16.61 crore (Rs 8.2 crore). "This was achieved because we regularly reviewed and revised our strategy to meet the challenges of a constantly changing environment, volatile market conditions and stiff competition," Thomas Cook said in a press release quoting Mr Ashwini Kakkar, CEO & MD of the company. Cost-cutting and earlier investment in technology had helped improve performance, the release added.
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