TFCI posts 91.33% standalone operating margin in Q2FY27
Interest of Rs 25.96 cr remained the main charge below operating profit, while other income was Rs 1.20 cr.
Filed 03 Nov 2026, 14:25 IST · Tourism Finance Corporation of India Ltd (TFCILTD)
Key takeaways
- Standalone net profit was Rs 38.59 cr, after interest of Rs 25.96 cr absorbed a substantial part of operating profit.
- Operating margin was 91.33%, with expenses at Rs 6.95 cr against revenue of Rs 80.18 cr.
- The margin was 40.73 percentage points above the 50.60% median for 79 Financial Services peers that had reported.
Price around the results
Operating profit led standalone earnings
Tourism Finance Corporation of India reported standalone revenue of Rs 80.18 cr and operating profit of Rs 73.23 cr in Q2FY27. Profit before tax was Rs 48.34 cr and net profit was Rs 38.59 cr, with depreciation at only Rs 0.14 cr. Other income was Rs 1.20 cr, so reported profit was primarily generated by operations rather than supplementary income.
Interest was the main drag below operations
The 91.33% operating margin reflects expenses of Rs 6.95 cr against revenue of Rs 80.18 cr. Interest of Rs 25.96 cr was the largest charge between operating profit and profit before tax, while depreciation had little effect at Rs 0.14 cr. The 20.17% tax rate reduced profit after tax by Rs 9.75 cr.
Margin stood well above reported sector peers
TFCI's standalone operating margin was 40.73 percentage points above the 50.60% median among 79 Financial Services peers that had reported the same quarter. It ranked 72nd from the bottom, placing it toward the upper end of this reported peer group. There are no year-on-year or sequential comparisons in this quarter's release, so the direction of margins across quarters cannot be assessed here.
Q2FY27 at a glance
Standalone figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹80 cr |
| Other income | ₹1 cr |
| Expenses | ₹7 cr |
| Operating profit | ₹73 cr |
| Operating margin (%) | 91.33% |
| Interest | ₹26 cr |
| Depreciation | ₹0 cr |
| Profit before tax | ₹48 cr |
| Tax | ₹10 cr |
| Net profit | ₹39 cr |
| EPS (₹) | ₹0.83 |
Operating margin of 91.33% compares with a Financial Services sector median of 50.60% across 79 peers that have reported Q2FY27.
What to watch
- Whether standalone operating margin holds above 91.33%.
- Whether expenses remain at or below Rs 6.95 cr as revenue changes.
- Whether interest stays below Rs 25.96 cr in the next reported quarter.