Thomas Cook (India) consolidated Q1 profit up on MICE growth

Thomas Cook (India) posted a consolidated net profit of Rs 31.01 crore for the quarter ended June 30, up 44.50 per cent from the corresponding quarter last year. This was mainly due to higher outbound sales and growth in MICE segment. The company had posted a net profit of Rs 21.46 crore for the corresponding period last year. Commenting on the results, Madhavan Menon, Managing Director, Thomas Cook (India) said, “Despite increases and surcharges in airfare pricing and the negative impact to the rupee due to volatility in global currency markets, the company has delivered strong results. Both our key businesses of leisure outbound and MICE have performed well with an overall outbound travel revenue growth of 44 per cent.” The consolidated total income rose to Rs 137.61 crore for the April-June quarter from Rs 110 crore for the same period, a year ago. The scrip of Thomas Cook (India) closed at Rs 62.40, up 1.38 per cent, on the BSE on Wednesday.