The shares of Thomas Cook Ltd crashed 12% on Tuesday 4 February after the company announced its quarterly earnings for October-December.
The company reported a sharp decline of almost 40% in its Q3 net profit to Rs 49.58 crore, down from Rs 82.39 crore in the same quarter the previous year, even though sales had increased. Higher sales did not translate into proportionate profitability as a result, either because of weaker margins or higher expenses.
In the quarter ending in December 2024, Thomas Cook’s consolidated statistics showed that sales climbed 8.87% to Rs 2,061.01 crore, up from Rs 1,893.13 crore in the same quarter the previous year (December 2023).
In a separate exchange filing, Thomas Cook India said that Madhavan Menon, its chair, had been promoted to the position of non-executive chairman of the board. He will be leaving his current role on June 1st, the travel business said in its disclosures to the BSE on Monday.
Menon was reappointed as the company’s executive chairman in July 2023 for a five-year term. But the board changed his name to non-executive chairman after he asked for it.
At 2:20 pm, the shares of Thomas Cook were trading 12.10% lower at 143.76 on NSE.