Dear Colleagues,
I am pleased to report that the numbers of the recently acquired Digiphoto Entertainment Imaging (DEI) started flowing into our P&L and balance sheet as on 1 st of April 2019. This is likely to add to the bottom line over the coming year, and in future years too.
As I look back at the first half of 2019, I must admit that we have witnessed some challenges in the travel industry across the world and some more specifically in India, where we saw India’s largest airline, Jet Airways, ceasing its operations in March 2019; the sharp increases in the oil prices between January and March; one of the largest competitors in the industry facing serious liquidity crunch from June 2019;volcanic eruptions and tsunami in Indonesia; and the senseless terrorist attacks in Srilanka in May 2019.
Despite all this, and the resulting collateral impact that we witnessed, I am happy to report that the respective businesses were able to manage the fall out. I would attribute this to the risk management increasingly embedded in our processes.
I look forward to the second half of the year being less eventful and more productive.
Regards,
Madhavan
