Thomas Cook India Faces Profit Dip Amid Labour Code Changes
Thomas Cook India reported a 3.83% decline in net profit for the December quarter, attributed to a one-time provision due to new Labour Codes. Despite this, the company saw a revenue increase and maintained a strong performance in the global travel market, achieving a 20% PBT growth in Q3.
- Country:
- India
Thomas Cook India announced a 3.83% decrease in consolidated net profit for the December quarter, attributing the decline to a one-time Rs 30.1 crore provision due to the implementation of Labour Codes.
Despite this setback, the company recorded an increase in revenue from operations, reaching Rs 2,145.68 crore from the previous year's Rs 2,061 crore.
Managing Director and CEO, Mahesh Iyer, highlighted the company's robust performance in a challenging global travel landscape with a 20% growth in Profit Before Tax for Q3, excluding the one-time provision.
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