Tourism Finance Corporation of India LimitedQuarter Ended June 30, 2026 Results & Financial Update
Tourism Finance Corporation of India Limited: Quarter Ended June 30, 2026 standalone results and company financials – total income ₹115.15 Cr, PAT ₹61.21 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Tourism Finance Corporation of India Quarter Ended June 30, 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Tourism Finance Corporation of India reported a robust financial performance for the first quarter of fiscal year 2027 (Q1 FY27), driven by substantial growth in interest income, dividend realizations, and an exceptional tax refund item.
Total income for the quarter surged to Rs. 115.15 crore, marking a significant increase compared to Rs. 65.82 crore in Q1 FY25-26 and Rs. 73.94 crore in the preceding quarter ended March 31, 2026.
Profit before provisions, exceptional items, and tax stood at Rs. 79.52 crore, compared to Rs. 38.16 crore in the corresponding period of the previous year.
The company recognized a provision and write-off for bad and doubtful debts and investments amounting to Rs. 1.20 crore during the quarter, bringing the Profit Before Tax (PBT) to Rs. 78.32 crore.
Profit After Tax (PAT) for Q1 FY27 reached Rs. 61.21 crore, doubling on a year-on-year basis from Rs. 30.56 crore in Q1 FY26 and growing sequentially from Rs. 32.02 crore in Q4 FY26.
Basic and diluted earnings per share (EPS) for the quarter were reported at Rs. 1.32 per share, compared to Rs. 0.66 in Q1 FY26 and Rs. 0.69 in Q4 FY26, following share capital adjustments from prior share splits.
01 · Business model
What does Tourism Finance Corporation of India do?
Tourism Finance Corporation of India Limited (TFCI) is a specialized non-banking financial company (NBFC-ND-ML) that has provided structured financing solutions to the tourism and hospitality sector and allied industries for over 37 years.
The company's primary business model revolves around term lending, project financing, last-mile funding, modernization, and restructuring assistance for greenfield and brownfield hotels, resorts, motels, and convention centers across India.
Beyond core hospitality lending, TFCI diversifies its asset portfolio into non-hospitality sectors including real estate (affordable housing, builder floors, and lease rental discounting), manufacturing, infrastructure, social infrastructure (education and healthcare), NBFC/ARC funding, and loan-against-shares (LAS).
TFCI generates revenue primarily through interest income from its loan and debt portfolios, dividend income, fee-based advisory services, and strategic capital gains from investments in equity, mutual funds, and bonds.
02 · Historical context
What shaped the business before this quarter
Effective September 19, 2025, the company split its equity shares with a face value of Rs. 10 each into five equity shares of Rs. 2 each, resulting in restated comparative earnings per share across prior periods.
The company secured credit rating upgrades from various agencies, including an upgrade from A+ to AA- for bank borrowings by Brickwork Ratings in July 2026 and by Infomerics in March 2026.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended June 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Total income | ₹115.15 Cr | ₹65.82 Cr | ₹73.94 Cr |
| Profit before tax | ₹78.32 Cr | ₹38.16 Cr | ₹40.72 Cr |
| Profit after tax | ₹61.21 Cr | ₹30.56 Cr | ₹32.02 Cr |
| EPS | ₹1.32 | ₹0.66 | ₹0.69 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Interest income on loan assets expanded to Rs. 72.12 crore for Q1 FY27, compared to Rs. 55.85 crore in Q1 FY26 and Rs. 65.99 crore in Q4 FY26.
Other income surged significantly to Rs. 43.03 crore, predominantly driven by the receipt of Rs. 34.00 crore in net interest on income tax refunds pertaining to historical assessment years.
Fee and commission income contributed Rs. 5.28 crore, alongside fair value gains on investments of Rs. 3.62 crore during the quarter.
What drove margins
Finance costs (interest expense) rose to Rs. 26.16 crore in Q1 FY27 from Rs. 21.55 crore in Q1 FY26, reflecting borrowings associated with portfolio expansion.
Employee benefit expenses were contained at Rs. 4.18 crore, while other operating expenses stood at Rs. 5.15 crore for the quarter.
05 · Demand, customers & order book
Where demand is coming from
As of June 30, 2026, the company's active portfolio comprised 56 loan borrowers and 7 project-related NCD issuers, totaling 63 accounts with a gross AUM of Rs. 2,002.05 crore.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
In accordance with Ind AS 108, the company operates primarily within a single reportable business segment focused on financing and investment activities.
Geography and market mix
The gross AUM of Rs. 2,002.05 crore as of June 30, 2026, spans multiple states, with major concentrations in Maharashtra (Rs. 599.87 crore), Uttar Pradesh (Rs. 477.07 crore), Gujarat (Rs. 323.85 crore), and Delhi (Rs. 206.11 crore).
07 · Reported developments
What changed operationally
Gross Non-Performing Assets (NPAs) remained low at 0.41% (Rs. 7.82 crore), while Net NPAs were maintained at nil, backed by 100% provision coverage.
08 · Items worth noticing
The line items that can distort a quick read
The company recognized a net current tax asset adjustment of Rs. 808.35 lakh and recorded Rs. 3,400.03 lakh as net interest on income tax refunds within other income following favorable appeal effect orders for assessment years 1995-96 to 2002-03.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Total borrowings stood at Rs. 1,028.82 crore as of June 30, 2026, consisting of bank borrowings of Rs. 848.63 crore and secured/unsecured debentures of Rs. 174.72 crore.
The debt-to-equity ratio improved further to 0.75:1 as of June 30, 2026, compared to 0.83:1 as of March 31, 2026.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Articles of Association Amendment
The Board of Directors approved an amendment to the Articles of Association regarding the deletion of clauses related to the Common Seal, subject to member approval.
11 · Previous-quarter changes
What changed since the previous quarter
In accordance with RBI notifications, the company did not acquire, assign, or transfer any loan accounts during the quarter ended June 30, 2026.
12 · Key Q&A
The quarter, answered directly
What does Tourism Finance Corporation of India do?
Tourism Finance Corporation of India Limited (TFCI) is a specialized non-banking financial company (NBFC-ND-ML) that has provided structured financing solutions to the tourism and hospitality sector and allied industries for over 37 years.
What is the clearest takeaway from Quarter Ended June 30, 2026?
Tourism Finance Corporation of India reported a robust financial performance for the first quarter of fiscal year 2027 (Q1 FY27), driven by substantial growth in interest income, dividend realizations, and an exceptional tax refund item.
What drove revenue or demand?
Interest income on loan assets expanded to Rs. 72.12 crore for Q1 FY27, compared to Rs. 55.85 crore in Q1 FY26 and Rs. 65.99 crore in Q4 FY26.
What mattered most for margins or profitability?
Finance costs (interest expense) rose to Rs. 26.16 crore in Q1 FY27 from Rs. 21.55 crore in Q1 FY26, reflecting borrowings associated with portfolio expansion.
What changed operationally beyond the headline numbers?
The Board of Directors approved an amendment to the Articles of Association regarding the deletion of clauses related to the Common Seal, subject to member approval.
What should the next disclosure help confirm?
Monitor the adequacy of expected credit loss (ECL) provisions relative to broader macroeconomic scenarios and RBI IRACP guidelines.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Asset Quality and ECL Provisioning: Monitor the adequacy of expected credit loss (ECL) provisions relative to broader macroeconomic scenarios and RBI IRACP guidelines.
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