"We are definitely beginning to see a pickup in the market," Madhavan Menon, managing director for Thomas Cook India, told Dow Jones Newswires by phone.
"However, it is too early to say (if the recovery has begun) since the inbound traffic picks up around October while the outbound season starts from November."
Fall in local hotel tariff will help to boost demand for travel, he said, but declined to give any earnings forecast for its next quarter or the full year ending Dec. 31.
Thomas Cook India, which offers travel and foreign exchange services, saw its consolidated net profit for the half year ended June 30 more than halve to 106.3 million ($2.1 million) rupees from 218.63 million rupees a year earlier.
