In an interview to CNBC-TV18, Madhavan Menon, Chairman & MD of Thomas Cook (India) spoke about the results and how next few quarters could look like.
Thomas Cook (India) saw muted revenue growth in a seasonally weak quarter. While the Sterling Holidays' EBIT loss narrowed, the travel business revenues crossed Rs 800 crore.
In an interview to CNBC-TV18, Madhavan Menon, Chairman & MD of the company spoke about the results and how next few quarters could look like.
Forward bookings are looking strong, said Menon.
"On the foreign exchange side we are seeing strong growth; in fact this business has grown by 18 percent in the calendar year and my expectation is that the growth will continue," he added.
He further added that business travel is weak due to slowdown in IT sector.
Thomas Cook doesn't intend to add any debt this year, he said.
On goods and services tax (GST) front, he said foreign exchange business remains unchanged by GST.Watch accompanying video for more details.
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