Travel firm Thomas Cook India fourth quarter loss widens to Rs 20 crore

FILE PHOTO: The Thomas Cook logo is seen in this illustration photo | Photo: Reuters

Travel services provider Thomas Cook India has reported widening of consolidated net loss to Rs 20.23 crore for March quarter 2020-21, impacted by the pandemic.

The company posted a net loss of Rs 13.90 crore for the year-ago period, Thomas Cook said in a late night regulatory filing on Thursday.

Total income from operations stood at Rs 401.64 crore in the quarter under review. It was Rs 1,109.02 crore in the same period a year ago.

For 2020-21, the company posted a net loss of Rs 295.19 crore as against a loss of Rs 17.65 crore in the previous year, Thomas Cook India Ltd (TCIL) said.

Total income from operations stood at Rs 945.74 crore in the year. It was Rs 6,948.30 crore in 2019-20, it added.

"We are already seeing positive signs with the tapering of infection rates globally and travel reopening in select countries, albeit in an understandably careful and calibrated manner," TCIL Chairman & MD Madhavan Menon said.

This augurs well for the revival of the sector, with indications of international restart for India possibly around third quarter of 2021-22, he added.

"Fresh funding of Rs 4,357 mn (Rs 435.7 crore) from our parent Fairbridge Capital through preferential allotment of OCCRPS will help TCIL strengthen its balance sheet and leverage opportunities when travel demand returns," Menon said.

OCCRPS stands for optionally convertible cumulative redeemable preference shares.

Shares of TCIL were trading at Rs 58.20 per scrip on BSE, down 4.98 per cent from its previous close.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel