Thomas Cook (India) LimitedQuarter Ended June 30, 2026 Results & Financial Update
Thomas Cook (India) Limited: Quarter Ended June 30, 2026 consolidated results and company financials – revenue ₹215.30 Cr, PAT ₹5.87 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 Thomas Cook (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
On a sequential basis, revenue compared to the previous quarter ended March 31, 2026 stood lower as seasonal patterns and specific business cycle adjustments took effect, leading to a corresponding shift in bottom-line earnings.
Earnings per share for the quarter were recorded at ₹1.54 on a basic and diluted basis, reflecting the net earnings attributable to shareholders for the three-month period.
Concurrently, the company's wholly owned hospitality subsidiary, Sterling Holiday Resorts Limited, delivered its strongest-ever quarterly performance during Q1 FY27, achieving ₹1.7 billion in total revenue and maintaining an industry-leading 37% EBITDA margin.
Sterling's robust hospitality performance was underpinned by strong operational efficiencies, including an occupancy increase of 700 basis points to 77% and a 20% growth in TRevPAR, despite expanding room inventory across its network.
Sterling remained completely debt-free with cash reserves exceeding ₹3.7 billion, offering strategic flexibility for its ongoing expansion pipeline across owned, leased, and managed assets.
01 · Business model
What does Thomas Cook (India) do?
Thomas Cook (India) Limited is a leading integrated travel and travel-related financial services company in India, operating across foreign exchange, corporate travel, leisure travel, MICE, visas, and value-added services.
The group also holds key subsidiaries, notably Sterling Holiday Resorts Limited, which operates a nationwide hospitality portfolio across leisure destinations, retreats, and heritage properties.
Backed by Fairfax Financial Holdings Limited, the company caters to diverse customer segments ranging from individual leisure travelers and corporate accounts to wedding planners and group tours.
02 · Historical context
What shaped the business before this quarter
Over the last five years, Sterling Holiday Resorts built the operational foundations of a high-quality, scalable hospitality platform, culminating in a record-breaking performance in Q1 FY27.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended June 30, 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹215.30 Cr | ₹245.30 Cr | ₹855.78 Cr |
| Total income | ₹215.30 Cr | ₹245.30 Cr | ₹855.78 Cr |
| Profit before tax | ₹7.84 Cr | ₹16.43 Cr | ₹17.11 Cr |
| Profit after tax | ₹5.87 Cr | ₹11.95 Cr | ₹11.95 Cr |
| EPS | ₹1.54 | ₹4.83 | ₹4.70 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 2.7% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 3.6% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Sterling Holiday Resorts reported record revenues of ₹1.7 billion, driven by a 29% growth in room revenue and a 15% increase in food and beverage revenue as leisure demand outpaced supply additions.
Sterling achieved an average room rate of ₹7,809 and a 20% rise in TRevPAR, supported by disciplined revenue management and strong commercial execution.
What drove margins
Sterling maintained a robust 37% EBITDA margin during the quarter, benefiting from higher occupancy rates and disciplined cost management across its resort network.
05 · Demand, customers & order book
Where demand is coming from
Demand across Sterling's destinations continued to outpace supply additions, supporting higher occupancies across leisure and group travel segments.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Q1 FY27 marked the 26th consecutive profitable quarter for Sterling, operating 78 resorts with nearly 3,800 rooms across more than 65 destinations.
Geography and market mix
Sterling's portfolio spans beaches, hills, jungles, heritage destinations, pilgrimage circuits, and waterfronts across India.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Sterling's occupancy improved by 700 basis points to reach 77% during the quarter despite a significant increase in available room inventory.
Projects, capex and execution
Sterling maintained a visible development pipeline of over 35 resorts and 2,000 additional rooms, supported by an asset-right strategy balancing owned, leased, and managed properties.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Sterling continues to invest in technology and Artificial Intelligence as strategic enablers for guest experience and the next phase of growth.
09 · Reported developments
What changed operationally
Sterling Kanha received TripAdvisor's 'Best of the Best' Award for the fourth consecutive year, placing it among the top 1% of resorts globally.
A total of 28 Sterling resorts received TripAdvisor Travellers' Choice Awards, with 12 resorts earning recognition for three consecutive years.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Sterling's operating free cash flow increased by 30% year-on-year, reflecting strong cash conversion and disciplined cost structures.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Sterling subsidiary performance
Sterling Holiday Resorts reported its strongest-ever quarterly performance in Q1 FY27, marking a defining inflection point in its business transformation.
12 · Key Q&A
The quarter, answered directly
What does Thomas Cook (India) do?
Thomas Cook (India) Limited is a leading integrated travel and travel-related financial services company in India, operating across foreign exchange, corporate travel, leisure travel, MICE, visas, and value-added services.
What is the clearest takeaway from Quarter Ended June 30, 2026?
On a sequential basis, revenue compared to the previous quarter ended March 31, 2026 stood lower as seasonal patterns and specific business cycle adjustments took effect, leading to a corresponding shift in bottom-line earnings.
What drove revenue or demand?
Sterling Holiday Resorts reported record revenues of ₹1.7 billion, driven by a 29% growth in room revenue and a 15% increase in food and beverage revenue as leisure demand outpaced supply additions.
What mattered most for margins or profitability?
Sterling maintained a robust 37% EBITDA margin during the quarter, benefiting from higher occupancy rates and disciplined cost management across its resort network.
What changed operationally beyond the headline numbers?
Sterling's occupancy improved by 700 basis points to reach 77% during the quarter despite a significant increase in available room inventory.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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