The company reported a consolidated net profit of Rs 73.13 crore during the first quarter ended June 30, marginally up from Rs 70.93 crore a year ago, according to a regulatory filing.
During the April-June quarter,
"In the medium and long term, the tailwinds for the hospitality sector remain strong, with demand expected to continue outpacing supply," Menon told PTI.
Citing industry reports, he said the long-term demand is forecasted to grow at over 10 per cent, fuelled by a robust growth of 20 per cent year-on-year in domestic tourism.
According to Menon, the growth rate is expected to be at 13 per cent for key leisure markets.
The Thomas Cook India Executive Chairman shared that the company's hospitality arm
"Our expansion plans are focussed on a phygital model," Menon shared.
The steady increase in economic activity on the back of the country's economic growth is also fuelling the growth of the corporate travel business.