Tourism Finance Corporation of India Q2 FY27 results: net profit up 32.7% to ₹38.59 crore, revenue up 20.7%

How did Tourism Finance Corporation of India perform in Q2 FY27?

Tourism Finance Corporation of India reported standalone revenue of ₹80.18 crore for Q2 FY27, up 20.7% from ₹66.45 crore in Q2 FY26. Total income rose 22.4% to ₹81.39 crore, profit before tax increased 32.2% to ₹48.34 crore and net profit rose 32.7% to ₹38.59 crore. Basic EPS was ₹0.83, compared with ₹0.63 a year earlier. EBITDA and EBITDA margin were not reported.

Against Q1 FY27, revenue declined 1.0% from ₹81.02 crore, total income fell 29.3% from ₹115.15 crore and profit before tax declined 38.3% from ₹78.32 crore. Net profit fell 37.0% from ₹61.21 crore and basic EPS declined from ₹1.32 to ₹0.83. The results and the limited review covered standalone financials, and the reviewer reported that no material misstatement had come to its attention.

What changed in Tourism Finance Corporation of India's costs and profit?

Against Q2 FY26, total expenses rose 10.5% by ₹3.13 crore to ₹33.05 crore. Finance costs increased ₹2.54 crore to ₹25.96 crore, employee cost rose ₹0.26 crore to ₹3.97 crore and other expenses increased ₹0.33 crore to ₹2.98 crore. Depreciation was unchanged at ₹0.14 crore. Other income increased by ₹1.17 crore to ₹1.20 crore, while there was no exceptional item.

Tax expense increased ₹2.25 crore to ₹9.75 crore from ₹7.50 crore. The filing reported profit before provision, exceptional items and tax of ₹48.34 crore for Q2 FY27, with no provision or write-off for bad and doubtful debts or investments and no exceptional item. The company did not state in the filing why the individual cost lines moved. The net profit margin was 48.1%, compared with 43.7% in Q2 FY26, an increase of 4.4 percentage points.

How did the first half of FY27 go?

For H1 FY27, standalone revenue was ₹161.21 crore, up 23.9% from ₹130.16 crore in H1 FY26. Total income rose 48.6% to ₹196.54 crore from ₹132.30 crore, while profit before tax increased 69.5% to ₹126.66 crore from ₹74.72 crore. Net profit rose 67.4% to ₹99.80 crore from ₹59.62 crore, and EPS increased to ₹2.15 from ₹1.29.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹2,574.48 crore, compared with ₹2,411.80 crore at 31 March 2026. Total equity was ₹1,392.16 crore, compared with ₹1,315.14 crore, while cash and cash equivalents were ₹48.46 crore against ₹51.23 crore. The investor presentation reported total borrowings of ₹1,157.73 crore for H1 FY27; a comparable borrowing figure for the previous balance-sheet date was not provided in the available facts.

H1 FY27 operating cash flow was ₹25.27 crore, compared with an outflow of ₹51.42 crore in H1 FY26. Investing cash flow was an outflow of ₹0.13 crore against ₹0.02 crore, and financing cash flow was an outflow of ₹27.91 crore against ₹27.98 crore. Capital expenditure was ₹0.13 crore, compared with ₹0.02 crore, while the previous closing cash balance was not reported.

How has Tourism Finance Corporation of India done over the last 8 quarters?

Revenue and profit each rose year on year in each of the last seven quarters. Revenue reached its highest level in the available series at ₹81.02 crore in Q1 FY27, before easing to ₹80.18 crore in Q2 FY27. The lowest revenue shown was ₹57.22 crore in Q3 FY25, and the available series ended with revenue down slightly from the preceding quarter.

Profit after tax peaked at ₹61.21 crore in Q1 FY27 and fell to ₹38.59 crore in Q2 FY27. It had reached its lowest level in the series at ₹22.63 crore in Q3 FY25. The available quarterly series did not include EBITDA or EBITDA-margin figures, so no quarterly margin peak or trough could be identified.

What else did the company announce?

On 3 November 2026, the board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026. The filing included a limited review report, the results in the prescribed format and related-party transaction disclosures. It also approved the appointment of Vandana Sinha as a non-executive non-independent director representing LIC of India, effective 3 November 2026 and subject to shareholder approval. The same-day filings did not announce a dividend or fund raise.

What did Tourism Finance Corporation of India's management say?

Management’s investor presentation highlighted gross AUM of ₹2,214.68 crore and a gross loan book of ₹2,111.43 crore for H1 FY27. It reported gross NPL of 0.37% and nil net NPL, and identified Hotels at 40% and Real Estate at 29% as the largest loan-portfolio exposures. The presentation also reported a pan-India state-wise lending footprint, with Maharashtra at ₹587.54 crore, Uttar Pradesh at ₹489.53 crore and Gujarat at ₹355.22 crore. Management said the financing strategy spans hospitality and several non-hospitality sectors.

Management said hospitality funding covers new hotel and resort projects, expansion, modernisation, renovation, last-mile funding, loan takeovers and refinancing. It also described non-hospitality lending for greenfield and brownfield projects, working capital, refinancing and corporate purposes. The presentation contained no numerical forward targets, and the available management material did not include analyst questions or specific guidance.

How did Tourism Finance Corporation of India shares react?

After the filing appeared in the market, the stock was up 0.8% after five minutes, 0.8% after 15 minutes and 1.7% after 30 minutes. It closed 2.3% above its pre-results close on the reaction day. The Financial Institution sector median fell 0.5%, so the stock outperformed the industry by 2.8 percentage points on the reaction day.

By the next day’s close, the stock was up 1.0% from its pre-results close, while the sector median was up 2.9%, leaving the stock 1.9 percentage points behind the industry. Earlier reaction-day moves were mixed: the stock fell 1.9% on 20 July 2026, rose 2.7% on 13 May 2026 and moved 0.3%, 2.0%, -3.1% and 4.1% on four other listed results dates.