According to reports from The Economic Times, Thomas Cook (India) posted revenue from operations of ₹2,146 crore for quarter three of the current fiscal, up from ₹2,061 crore in the corresponding period of the previous fiscal. The company posted a net profit of ₹45 crore in quarter three, down from ₹47 crore in quarter three of financial year 2025. However, CEO Mahesh Iyer noted that the company posted a 20% growth in profit before tax to ₹90 crore excluding a one-time provision of ₹30 crore due to the implementation of a new labour code.
As reported by The Economic Times, in the corporate travel income grew by 21% compared to the previous quarter. In the travel services space, the company reported a 3% growth in revenue from operations. In retail services, its retail turnover increased by 25% year on year for quarter three of financial year 2026. However, Iyer acknowledged that in the holidays segment, the B2C domestic segment didn't perform as expected, with the company not seeing the growth it anticipated.
According to The Economic Times, Iyer highlighted that outbound travel was flat with most bookings being for short haul destinations, resulting in lower average package prices compared to the same quarter last year. Regarding tourism growth prospects, he expressed concerns about India's positioning in the global market, stating that while the budget increased tourism allocation to ₹2,438.4 crore from the revised 2025-2026 outlay of ₹1,310 crore, the marketing and promotion outlay was slashed to ₹3.5 crore from ₹103.4 crore. Iyer noted that while the company is seeing 12-13% higher growth on forward bookings, booking cycles could move closer to April and May considering the new TCS rules implementation.
As reported by The Economic Times, Iyer emphasized that while the budget announcements on government initiatives in infrastructure development, skilling 10,000 tourist guides, creating a digital repository, and promoting archeological sites are welcome moves, adequate marketing and promotions are crucial for tourism growth. He referenced Thailand's success in attracting 35 million people annually and expressed hope that India crosses the 10 million mark this year. Regarding the new TCS rules, Iyer noted that TCS on overseas tours has been reduced to 2% from 5%, providing extra cushion to families for group bookings and potentially encouraging travelers to wait for the new rules to kick in from April 1.
