2004 Press Releases

Thomas Cook announces its first quarter results

Thomas Cook (India) Ltd, the leading tour and financial services operator, closed its books of account for the first quarter for year 2004- 2005 on January 31, 2005. The company registered revenue of Rs 328 million, a marginal slide down compared to the same period last year. The company also recorded a pre - tax profit of Rs 102 million, which is 19 % below the first quarter last year.

"The Tsunami has been the single largest national disaster in modern history and travel advisories issued in it wake have affected transaction base. Equally the humanitarian, financial and other support offered by the company to Thomas Cook globally and non Thomas Cook customers and affected parties have caused a temporary blip. We do hope to come back strongly in the months ahead," says Ashwini Kakkar, CEO & MD, Thomas Cook (India) Ltd.

Talking about the industry future, Mr Kakkar is optimistic about the outbound season. The Open Sky policy with massive increase in scheduled flights to and from India, especially to UK, ASA and ASEAN countries will ensure competitive fares and better availability and frequency of seats, are an incentive for holiday goers and business travellers.

On foreign exchange front, the company has launched Multi Currency Remittance, which will enable to offer drafts in 25 currencies and wire transfers in 50 currencies. This will help boost volume in retail remittance segments and would be a boon to students and corporates.