Thomas Cook (India) Limited , a leading integrated travel services company, announced its financial results for the second quarter ended September 30, 2025. The company reported a 3% year-on-year growth in consolidated revenue from operations to Rs 20,738.40 million, despite facing headwinds from geopolitical events and weather disruptions in key domestic markets.

Key Financial Highlights

• Consolidated revenue from operations grew 3% YoY to Rs 20,738.40 million in Q2 FY26
• Profit before tax (PBT) after exceptional items stood at Rs 1,098.00 million, compared to Rs 1,095.90 million in Q2 FY25
• Net profit decreased marginally to Rs 707.50 million from Rs 719.60 million in the year-ago quarter

Segment Performance

The travel services segment, which contributes over 80% of revenue, grew 6.1% YoY. However, the leisure hospitality & resorts business saw a 12.7% decline due to weather-related disruptions.

Management Commentary

Mahesh Iyer, Managing Director & CEO, commented: "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."

He added that despite a slowdown in education-related forex transactions, the company's forex business managed to increase retail sales by 9% in H1 FY26.

Financial Position

Thomas Cook India maintained a strong financial position with cash and bank balances of Rs 23,861.00 million as of September 30, 2025, compared to Rs 20,739.00 million on March 31, 2025.

Other Key Developments

• Granted 4.36 million stock options to employees under various ESOP schemes
• Paid dividend of Rs 0.45 per share for FY25
• Sold an immovable property in Gurugram for a profit of Rs 256.50 million (exceptional item)

Outlook

The management believes government initiatives like GST 2.0 and other growth-led investments may benefit the travel industry as increased consumption could lead to higher discretionary spending.

While Thomas Cook India has shown resilience in a challenging quarter, the company will need to navigate ongoing global uncertainties and domestic weather-related disruptions in the coming quarters. Its diversified business model and strong financial position should help cushion against near-term headwinds.

Thomas Cook (India) Limited reported a 9% year-on-year growth in revenue from operations to Rs 44,818.00 million for H1FY26, with Q2FY26 showing a 3% growth to Rs 20,738.00 million. The company demonstrated resilience in the face of global geopolitical challenges and weather-related disruptions in key domestic markets.

Key Highlights

• PBT after exceptional items was maintained at Rs 2,211.00 million in H1FY26 versus Rs 2,187.00 million in H1FY25
• Consolidated net profit reached Rs 707.50 million in Q2FY26 compared to Rs 719.60 million in the same quarter last year
• EBITDA stood at Rs 1,470.00 million in Q2FY26, down 12% from Rs 1,679.00 million in Q2FY25
• The Group maintained strong cash and bank balances of Rs 23,861.00 million as of September 30, 2025

Segment Performance

Financial Services

• Retail turnover increased 13% for Q2FY26 and 9% for H1FY26, led by holidays and overseas education segments
• Maintained healthy EBIT margins at 49% for Q2FY26

Travel Services

• Revenue grew 12% in H1FY26 and 6% in Q2FY26
• EBIT impacted by lower sales in key growth markets due to external factors

Sterling Holidays (Leisure Hospitality & Resorts)

• Opened seven new properties during the quarter
• Profitability impacted by higher setup costs for new resorts and lower occupancy levels

Digiphoto Entertainment Imaging (Digital Imaging Solutions)

• Revenue declined 3% in H1FY26 and 6% in Q2FY26
• Impacted by geopolitical issues affecting Middle East markets

Mahesh Iyer, Managing Director & CEO, commented, "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. 2,211.00 Mn in H1 FY26."

The company continued to focus on expanding its network and digital initiatives across segments. It opened 4 new leisure travel outlets and launched new products like Festival and Carnival tours. Thomas Cook India also won two awards at the Adam Smith Awards Asia 2025 for Best Risk Management Solution and Best Investing Solution.

With a strong balance sheet and strategic growth initiatives, Thomas Cook India appears well-positioned to capitalize on the expected uptick in travel demand. However, the company remains cautious about ongoing geopolitical uncertainties that could impact the sector.