Thomas Cook India reduces loss to Rs 68 crore in the March quarter

Integrated travel services company Thomas Cook India has reduced its loss at a consolidated level to Rs 68 crore in Q4 FY21 versus Rs 89 crore in the previous quarter.

In Q4 FY20, it had reported a loss of Rs 120 crore. For the financial year 2020-21, the loss stood at Rs 416 crore as compared to Rs 69 crore in FY20. The performance was impacted due to Covid-19 pandemic-led travel restrictions and lockdowns domestically and internationally.

However, the company registered a recovery in revenue by 48 per cent to Rs 402 crore in Q4 FY21 as against Rs 271 crore in Q3 FY21, primarily driven by improved performance of foreign exchange business in India, the Middle East-based Destination Management Specialist (DMS) companies and Sterling Holidays Ltd.