• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, July 29

Thomas Cook India reported a drop of 44 per cent in the standalone net profit at Rs 9 crore for the quarter ended June 30 against Rs 15 crore in the corresponding period last year.

The income from operations was down by 20 per cent to Rs 60 crore (Rs 75 crore).

In a notice to the BSE, the company said of the Rs 179.8-crore received as rights issue proceeds, Rs 116.7 crore have been utilised for preference share capital redemption, Rs 42 crore for FCNR loan repayment, Rs 18 crore towards repayment of commercial paper/short-term borrowings and Rs 2 crore were expenses pertaining to the rights issue.

On a consolidated basis, the revenues from travel and related services declined 21 per cent to Rs 62 crore (Rs 78 crore). Revenues from financial services declined by 10 per cent to Rs 9 crore (Rs 10 crore).

The travel company also said that on a standalone basis it has incurred re-organisation cost of Rs 2.89 crore towards restructuring of its branches and businesses based on a review of its operations in the June quarter.

Thomas Cook India’s stock price closed down at Rs 54.85 against previous day’s close.

More Stories on : Financial Services

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line