THOMAS COOK (INDIA) LTD.
P&L
Quarterly Consolidated
vs Q1 FY26
Thomas Cook (India) Ltd Reports 9% y-o-y Revenue Growth to Rs. 44,818 Mn for H1 FY26
12 Nov 2025 · 12 Nov 2025, 07:23 pm
Summary
Thomas Cook (India) Ltd has reported a 9% year-over-year revenue growth to Rs. 44,818 Mn for H1 FY26. The company maintained its profit before tax (PBT) at Rs. 2,211 Mn in H1 FY26, despite multiple challenging global geopolitical events and severe weather events in India. The financial services segment saw a 13% y-o-y retail turnover growth for Q2 FY26 and 9% for H1 FY26. Travel services revenue grew by 12% y-o-y in H1 FY26 and 6% in Q2 FY26. However, leisure hospitality (Sterling Holidays) was affected by weather and seasonality headwinds in Q2 FY26. Digiphoto Entertainment Imaging (DEI) saw a decline in revenue due to geopolitical issues in home markets in the Middle East.
Key Highlights
- 1
Revenue from Operations growth of 9% y-o-y to Rs. 44,818 Mn for H1 FY26
- 2
PBT after exceptional items maintained at Rs. 2,211 Mn in H1 FY26 vs Rs. 2,187 Mn in H1 FY25
- 3
Financial Services: Retail turnover increased by 13% y-o-y for Q2 FY26 and 9% y-o-y for H1 FY26
- 4
Travel Services: Revenue from Operations grew to 12% y-o-y in H1 FY26 and 6% y-o-y in Q2 FY26
- 5
Leisure Hospitality (Sterling Holidays): Weather & seasonality headwinds in Q2 impacted sales for the quarter
- 6
Digiphoto Entertainment Imaging (DEI): Revenue from Operations declined by (3%) in H1 FY26 and (6%) in Q2 FY26
Management Comments
Mahesh Iyer
While multiple global geopolitical challenges and monsoon-related disruptions affected India’s travel sector this quarter, the TCIL Group has demonstrated resilience — growing Revenue from Operations by 9% for H1 & 3% for the quarter, as well as sustaining PBT at Rs. 2,211 Mn in H1 FY26. Despite RBI’s LRS data reflecting a slowdown, particularly in the education segment — our forex business has managed to increase retail sales by 9% in H1 FY26. Looking ahead, we believe that initiatives of the government such as GST 2.0 and other growth-led investments will benefit the travel industry as the consumption led trickle down effect will lead to higher discretionary category spends.
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