Thomas Cook (India) Limited reported a consolidated profit before tax (PBT) of ₹885 million for the quarter ended June 30, 2026, marking a 21% decline from ₹1,113 million in Q1FY26. Consolidated net profit came in at ₹719 million, nearly flat compared to ₹721 million in the same period last year. The downturn was primarily driven by geopolitical disruptions in the Middle East, which severely impacted its GCC-based subsidiaries, Digital Imaging Solutions (DEI) and Desert Adventures. Excluding these subsidiaries, the group's consolidated EBIT grew by 8% year-on-year, highlighting the underlying strength of its Indian business units despite a decline in total revenue.

The Board of Directors approved the unaudited financial results on August 3, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statutory auditors B S R & Co. LLP issued an unmodified limited review report. The company maintained a strong balance sheet, with cash and short-term investments rising to ₹26,488 million as of June 30, 2026, from ₹26,162 million as of March 31, 2026.

Key Financial Highlights

The following table summarises the key consolidated financial metrics for the quarter:

EBITDA declined to ₹930 million from ₹1.27 billion in Q1FY26, with the EBITDA margin contracting to 4.45% from 5.25% year-on-year. Revenue fell to ₹20.92 billion compared to ₹24 billion in the prior-year period, reflecting the combined pressure of Middle East conflict and softer inbound tourism trends.

Segment Performance

The Leisure Hospitality segment delivered a record quarter, with revenue from operations growing by 19% to ₹1,614 million and EBIT surging 28% to ₹523 million. Occupancy rates reached 67%, and Average Room Rate (ARR) improved by 9% to ₹7,809. Financial Services also posted robust growth, with revenue increasing by 6% to ₹892 million and EBIT growing 8% to ₹404 million, sustaining an EBIT margin of 45.3%. Digital adoption accelerated significantly, with WhatsApp transactions growing over 84% and app bookings tripling year-on-year.

Travel Services revenue declined by 14% to ₹17,106 million, with EBIT dropping 50% to ₹405 million. This was largely due to a 33% decline in Overseas Destination Management Services (DMS) turnover, heavily impacted by the Israel-Iran conflict affecting Desert Adventures and softer U.S. inbound tourism affecting Allied T Pro. However, Corporate Travel volumes grew by 13.4% year-on-year.

What the Numbers Show

A critical divergence exists between the group's international exposure and its domestic operational efficiency. While the consolidated bottom line suffered due to uncontrollable geopolitical factors in the Middle East, the core Indian business units—particularly Leisure Hospitality and Financial Services—expanded margins and revenues significantly. The 8% EBIT growth excluding GCC subsidiaries indicates that the company's strategic focus on digitalization and cost discipline is yielding results domestically. The substantial cash reserve of ₹26,488 million provides a buffer against ongoing global uncertainties.

Strategic Initiatives

The company continued to enhance its digital infrastructure through Pathfndr, an AI-powered dynamic holiday packaging platform, and expanded its AI-powered voice bot capabilities. Thomas Cook India and SOTC Travel signed a long-term MoU with Vinpearl, Vietnam's leading hospitality brand, and an exclusive partnership with Atlys for visa processing. In the DEI segment, despite losses, the company signed three new partnerships in Indonesia and China and renewed 11 key partnerships across the UAE, Singapore, and Oman.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE332A01027/25e5c8b4019c47ba.pdf

Thomas Cook (India) Limited and its group company, SOTC Travel, have expanded their international holiday portfolio by launching premium rail experiences across South Africa, Canada, Australia, New Zealand, and Egypt. Announced on July 29, 2026, the initiative targets Indian travellers seeking luxury, slow travel, and immersive destination experiences where the journey itself is a key part of the holiday. Premium packages start from ₹4.5 lakh per person, depending on the itinerary and travel period. This move capitalizes on growing demand for experiential holidays that combine premium accommodation, gourmet dining, and curated off-train excursions with iconic rail journeys.

The companies disclosed the launch under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. To ensure availability on these highly sought-after journeys, Thomas Cook India and SOTC have procured seats and cabins on premium trains. The expanded portfolio builds on long-standing partnerships with Swiss-Euro Rail and Spain's Renfe, adding some of the world's most celebrated rail experiences to their offerings.

Key Premium Train Journeys

The new portfolio features five distinct itineraries combining rail travel with land holidays:

Rajeev Kale, President & Country Head – Holidays, MICE, Visa at Thomas Cook (India) Limited, stated that Indian travellers are increasingly gravitating towards premium holidays that offer richer, more meaningful ways to explore destinations. He noted that building on expertise in rail holidays, including partnerships with Switzerland's iconic rail network, the company has expanded its portfolio to include world-renowned train routes. SD Nandakumar, President & Country Head – Holidays & Corporate Tours at SOTC Travel, added that rail travel offers an authentic, local perspective and a more environmentally conscious way to explore. He emphasized that these holidays allow customers to experience the best of both the rail journey and the destination in one seamless itinerary.

What the Numbers Show

The pricing structure indicates a focus on the high-end leisure segment. With packages starting at ₹4.5 lakh per person, the offering is positioned for affluent travellers willing to pay a premium for exclusivity and comfort. The procurement of seats and cabins suggests a strategic inventory management approach to mitigate availability risks on limited-capacity luxury trains. The inclusion of diverse geographies—from the Canadian Rockies to the Australian Outback—demonstrates an effort to capture varied traveller preferences within the premium rail niche. This expansion complements Thomas Cook India's existing strengths in foreign exchange, corporate travel, and MICE services, broadening its leisure revenue streams.

Thomas Cook (India) Limited is promoted by Fairbridge Capital (Mauritius) Limited, a subsidiary of Fairfax Financial Holdings Limited, which holds 63.83% of the paid-up capital. CRISIL has reaffirmed the rating on debt programs and bank facilities of TCIL at 'CRISIL AA/Stable' for long-term bank facilities and 'CRISIL A1+' for short-term bank facilities and short-term debt, the highest rating for a travel and tourism company in India.