{"id":23304,"date":"2026-05-23T19:59:52","date_gmt":"2026-05-23T14:29:52","guid":{"rendered":"http:\/\/pulseonline.co\/?page_id=23304"},"modified":"2026-05-23T20:00:20","modified_gmt":"2026-05-23T14:30:20","slug":"thomas-cook-india-group-delivers-resilient-q3-fy26-performance-with-20-growth-in-profit-before-tax","status":"publish","type":"page","link":"http:\/\/pulseonline.co\/index.php\/thomas-cook-india-group-delivers-resilient-q3-fy26-performance-with-20-growth-in-profit-before-tax\/","title":{"rendered":"Thomas Cook India Group Delivers Resilient Q3 FY26 Performance with 20% Growth in Profit Before Tax"},"content":{"rendered":"

Thomas Cook India consolidated PBT grows by 20% for Q3 FY26 to Rs 897 Mn excluding a one-time provision of Rs 301 Mn due to implementation of new Labour Code<\/span><\/p>\n

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  • Consolidated Income from Operations growth of 4% y-o-y to Rs. 21,457 Mn in Q3 FY26; 7% y-o-y to Rs. 66,275 Mn for 9M FY26<\/span><\/li>\n
  • Consolidated PBT (before exceptional items) for 9M FY26 stood at Rs 2,852 as compared to Rs 2,936 Mn<\/span><\/li>\n
  • Financial Services: Retail turnover increased by 25% y-o-y for Q3 FY26; EBIT margins at 41.5% for Q3 FY26<\/span><\/li>\n
  • Travel Services: Revenue from Operations growth of 3% y-o-y in Q3 FY26; EBIT margins at 3.1% for Q3 FY26<\/span><\/li>\n
  • Leisure Hospitality (Sterling Holidays & Nature Trails): Revenue from Operations growth of 12%<\/span><\/li>\n
  • y-o-y in Q3 FY26; EBIT margins at 30.4% for Q3 FY26<\/span><\/li>\n
  • Digiphoto Entertainment Imaging (DEI): Revenue from Operations growth of 5% in Q3 FY26; EBIT margins at 3.5% for Q3 FY26<\/span><\/li>\n
  • The Group continues to maintain a strong financial position, with Cash & Bank balances at Rs. 25,449 Mn as of December 31, 2025 vs Rs. 23,861 Mn as of September 30, 2025<\/span><\/li>\n<\/ul>\n<\/div>\n
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    Income from Operations across all Business segments<\/span><\/p>\n

    Travel Services<\/span><\/p>\n

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    • Leisure Travel: Growth in sales 8%\u00a0 y-o-y for 9M FY26; (6%) y-o-y for Q3 FY26 across Thomas Cook & SOTC<\/span><\/li>\n
    • MICE: Growth in sales 5% y-o-y for 9M FY26; (2%) y-o-y for Q3 FY26<\/span><\/li>\n
    • Corporate Travel: turnover 3% y-o-y for 9M FY26; 12% y-o-y for Q3 FY26<\/span><\/li>\n
    • India DMS: turnover 1% y-o-y for 9M FY26; (2%) y-o-y for Q3 FY26<\/span><\/li>\n
    • Overseas DMS turnover 13% y-o-y for 9M FY26; 9% y-o-y\u00a0 for Q3 FY26<\/span><\/li>\n<\/ul>\n

      Forex<\/span><\/p>\n

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      • \u00a0Retail sales growth: 13% y-o-y for 9M FY26; 25% y-o-y for Q3 FY26<\/span><\/li>\n
      • \u00a0Education sales growth: 15% y-o-y for 9M FY26; 39% y-o-y for Q3 FY26<\/span><\/li>\n
      • \u00a0Holiday sales growth: 9% y-o-y for 9M FY26; 11% y-o-y for Q3 FY26<\/span><\/li>\n
      • \u00a0WhatsApp transactions growth: 1.7x y-o-y<\/span><\/li>\n
      • \u00a0App transactions: 3x growth y-o-y<\/span><\/li>\n
      • \u00a0Website transactions: 24% growth y-o-y<\/span><\/li>\n<\/ul>\n

        Leisure Hospitality (Sterling Holidays & Nature Trails)<\/span><\/p>\n

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        • Growth in sales: 3% y-o-y for 9M FY26; 12% y-o-y for Q3 FY26<\/span><\/li>\n
        • Occupancy: 65% for Q3 FY26<\/span><\/li>\n
        • Room revenue grew 15% y-o-y in Q3 FY26<\/span><\/li>\n
        • F&B Revenue: 14% growth y-o-y for Q3 FY26<\/span><\/li>\n<\/ul>\n

          Digital Imaging Solutions (DEI)<\/span><\/p>\n

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          • Growth in sales: 0.2% y-o-y for 9M FY26; 5% y-o-y for Q3 FY26<\/span><\/li>\n
          • 2 new partnerships signed in Q3 FY26: Saudi Arabia and UAE<\/span><\/li>\n
          • Renewed 6 key partnerships: In UAE, India and Malaysia<\/span><\/li>\n
          • Operational launch of 7 partnerships: Saudi Arabia, UAE, Maldives, India, Macau SAR<\/span><\/li>\n<\/ul>\n

            Commenting on the results, Mahesh Iyer – Managing Director & CEO Thomas Cook (India) Limited\u00a0said,\u00a0\u201cIn the face of a challenging global travel landscape, Thomas Cook India Group has delivered a strong all-round performance with a PBT growth of 20% in Q3, after excluding a one-time provision of Rs.301 Mn arising due to implementation of the new Labour Code. The recent Union Budget announcements pertaining to Travel & Tourism, notably – reducing TCS on overseas tour packages & foreign exchange remittances for Education & Medical purposes to 2%, high speed rail corridors, and the thrust towards skilling and digitally empowering guides etc. are all welcome and should spur momentum as we move into the peak summer travel season.\u201d<\/em><\/span><\/p>\n

            Business Segment-wise Performance:<\/span><\/p>\n

            1. Foreign Exchange<\/span><\/p>\n

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            • Overall turnover grew by 9% y-o-y in Q3 FY26<\/span><\/li>\n
            • Retail turnover grew by 25% in Q3 FY26; Education: turnover 39% y-o-y; Holiday: turnover 11% y-o-y in Q3 FY26<\/span><\/li>\n
            • Growth in digital end-to-end retail transactions: Forex by WhatsApp by over 1.7x y-o-y; App by 3x growth y-o-y in Q3 FY26; Website by 24% y-o-y in Q3 FY26<\/span><\/li>\n
            • Extended distribution of forex card delivery on Q-commerce platform Blinkit to \u2013 Chennai, Hyderabad & Pune (in addition to Mumbai, Delhi, Bengaluru)<\/span><\/li>\n
            • Opened 2 outlets in Q3 FY26 in Varanasi and Kottayam<\/span><\/li>\n<\/ul>\n

              2. Travel Services<\/span><\/p>\n

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              • Corporate Travel<\/span>\n
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                • Acquired 8 accounts in Q3 FY26 across ITES, automobile, telecomm & E-commerce<\/span><\/li>\n
                • Air revenue recorded a growth of over 12.4% y-o-y in Q3 FY26<\/span><\/li>\n
                • Non-air transactions grew at 19.8% in Q3 FY26<\/span><\/li>\n
                • Hotel and car transactions grew by 11.2% and 29.2% respectively y-o-y in Q3 FY26<\/span><\/li>\n
                • Commenced air and hotel operations from the TCI-Euro (Cyprus) office<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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                  • Meetings-Incentives-Conferences-Exhibitions (MICE)<\/span>\n
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                    • Managed over 120 groups of 50 to 3000 delegates per group. Key international destinations: Switzerland, Spain, Norway, Finland, Czech Republic, Australia, Japan, Thailand, Vietnam, Kenya, Sri Lanka, UK; Domestic: Goa, Jaipur, Mumbai,\u00a0 Delhi, Kolkata, Hyderabad<\/span><\/li>\n
                    • Successfully managed the Eighth Assembly of the International Solar Alliance in New Delhi, a global gathering that brought together global ambassadors and diplomats from over 150 nations, with participation from Shri Pralhad Joshi, Union Minister for New and Renewable Energy, and ministers representing ISA member countries\u2014reinforcing India\u2019s leadership in global solar diplomacy<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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                      • Leisure Travel<\/span>\n
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                        • Thomas Cook India and SOTC Travel launched their Europe Summer 2026 Holidays for Group Tours and Personalized Tours; launched AI-powered digital avatar of Thomas Cook\u2019s TACY , anchoring immersive itinerary videos that blend storytelling with destination insights; also doubling as high-impact sales tools and QR-led social media content<\/span><\/li>\n
                        • Launched an extensive China holidays portfolio to capitalize on the resumption of direct air connectivity and growing travel interest<\/span><\/li>\n
                        • Introduced Private Journeys\u2014an affordable, flexible travel format tailored for new-age Indian travellers with chauffeur-guide, blending the convenience of group tours with the comfort of personalized holidays<\/span><\/li>\n
                        • Launched unique seasonal tours for Autumn and Winter travel to China and Japan<\/span><\/li>\n
                        • Introduced special festival tours for Christmas\/end of year travel season<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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                          • Destination Management Services (DMS) Network<\/span>\n
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                            • India DMS: Turnover maintained\u00a0 at a similar level in Q3 FY26 vs Q3 FY25 due to advisories issued in source markets at the time of Indo-Pak war and cancellation due to protest in Nepal<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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                              • Overseas DMS: Sales grew by 9% y-o-y for Q3 FY26, driven by strong performance in Asia Pacific and Private Safaris, partly offset by geopolitical and regulatory challenges in certain markets<\/span>\n
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                                • Asia Pacific \u2013 Asian Trails: Sales grew 14% y-o-y, driven by strong contributions from key markets including Thailand, Malaysia, China and Australia. The revenue margins improved during the quarter, supported by stronger performance in the month of December 2025<\/span><\/li>\n
                                • USA \u2013 Allied T Pro: Revenue was marginally lower during the quarter, reflecting the seasonally weaker period and continued challenges stemming from muted inbound travel sentiment<\/span><\/li>\n
                                • Middle East – Desert Adventures: Revenue remained under pressure due to ongoing geopolitical developments. Competitive pricing strategies were deployed to sustain volumes, particularly within the FIT segment, impacting margins<\/span><\/li>\n
                                • Private Safaris:<\/span>\n