MUMBAI, 5 August 2026: Thomas Cook India Limited Group delivered a resilient performance for Q1 FY27* with Financial Services & Leisure Hospitality registering growth, while Travel Services held steady despite strong headwinds.
Consolidated results were subdued largely due to the impact of the West Asia conflict on the group’s GCC-based subsidiaries.
Financial Services
Revenue from Operations increased by 6% y-o-y for Q1 FY27; retail turnover grew by 8% y-o-y.
EBIT grew by 8% y-o-y, with EBIT margins at 45.3%.
Leisure Hospitality (Sterling Holidays & Nature Trails)
Revenue from Operations grew by 19% y-o-y in Q1 FY27
EBIT grew by 28% for Q1 FY27 & maintained with EBIT margins at 32.4% for Q1 FY27
Travel Services
Revenue from Operations from Thomas Cook, SOTC and TCI remained steady in Q1 FY27.
Consolidated Total Income for Q1 FY27 stood at INR21,530 million, down by 12%.
Consolidated PBT for Q1 FY27 stood at INR885 million, down by 21%.
Excluding the GCC-based subsidiaries (DEI & Desert Adventures), the group’s Consolidated results recorded an 8% increase in EBIT for Q1 FY27.
The group navigated the difficult period with a combination of timely repricing to manage input cost escalations, partner renegotiations, and prudent cost discipline.
The group continues to maintain a strong financial position, with cash and short-term investments at INR26,488 million as of 30 June 2026, up from INR26,162 million as of 31 March 2026.
Commenting on the results, Thomas Cook (India) Limited Managing Director & CEO, Mahesh Iyer said: “A highly volatile operating environment characterised the first quarter of FY27. The impact was particularly severe on our GCC-based subsidiaries — Digital Imaging (DEI) & Desert Adventures, which continue to be affected by the ongoing conflict in the region.
The group delivered a resilient performance for Q1 FY27 despite the challenging environment, with both Financial Services & Leisure Hospitality registering growth. At the same time, Thomas Cook, SOTC and TCI held steady despite strong headwinds in Travel Services.
The group’s global operations remain strong, as reflected in our 8% EBIT growth, excluding the GCC-based subsidiaries affected by the conflict.
While the operating environment remains dynamic, we are cautiously optimistic about the outlook for the remainder of the year. Our focus remains on prudent financial management, driving operational excellence through technology and innovation, and strengthening our customer focus to deliver sustainable growth and create long-term value for all our stakeholders.”
Destination Management Services (DMS) Network
India DMS: Revenue from operations grew by 0.2% for Q1 FY27 despite cancellations due to the Israel-Iran War.
Overseas Destination Management Services
Revenue declined by 33% y-o-y in Q1 FY27, primarily due to the continued impact of geopolitical disruptions in the Middle East, which significantly affected Desert Adventures. Performance was further impacted by softer US inbound tourism, which affected Allied T Pro. In contrast, stable performance at Asian Trails and continued growth across the Private Safaris businesses in East and Southern Africa provided a partial offset.
Asia Pacific – Asian Trails: Revenue remained broadly stable, supported by strong growth in the China operations and improved contributions from Cambodia, Malaysia and Singapore, despite continued geopolitical uncertainties affecting certain regional markets.
USA – Allied T Pro: Performance was impacted by continued softness in US inbound tourism amid weaker overseas visitor arrivals and geopolitical uncertainties, as well as the absence of large one-off MICE events in the current period.
Middle East – Desert Adventures: The quarter’s results were materially impacted by geopolitical developments in the Middle East, exerting sustained pressure on travel demand. The business maintained a strong focus on cost optimisation while preserving operational readiness to support the anticipated recovery in demand.
Private Safaris
Southern Africa: Revenue grew by 17% y-o-y, supported by resilient inbound travel demand and improved margins through strategic upselling initiatives and supplier negotiations, despite elevated airfares and airline capacity constraints.
East Africa: Revenue grew by 4% y-o-y, supported by sustained demand from key source markets, including the USA, Europe and India, while improved margins contributed to overall performance.
*Thomas Cook India follows the Indian April–March fiscal cycle: Fiscal Year 2027 (FY27): 1 April 2026 – 31 March 2027.
(Source: TCIL Group)
