INDIA. Leading travel dining and hospitality company Travel Food Services (TFS) has reported sharp growth in Q3 and nine-month revenues and profits.
Sales climbed +28.1% year-on-year in the quarter to Rs8,754 million (US$96.5 million), with a +24.5% leap in nine-month sales to Rs18,632 million (US$205.4 million).
Consolidated profit after tax increased by +35.3% year-on-year on an adjusted basis and by +32.6% on reported basis in Q3 to Rs1,368 million (US$15.1 million). The nine-month figure rose by +24.1% to reach Rs2,657 million (US$29.3 million).
Like-for-like sales growth reached +12.5% year-on-year in Q3 and +12.2% in the first nine months, while net contract gains contributed +13.5% in the quarter and +10.2% in the nine months.
The Q3 figures also compared favourably to a +1.6% rise in passenger traffic at TFS managed airports.
As of December 2025 the TFS network comprised 530+ quick-service restaurants and lounges with a portfolio of 140 brands.
The company noted that the growth momentum should be supported by the scaling up of operations and recently won F&B concessions at Delhi International Airport Terminals 1 and 2), Cochin International Airport (Domestic Terminal) and Navi Mumbai International Airport, along with the upcoming opening of Noida International Airport.
TFS Managing Director and CEO Varun Kapur said, “Improving passenger traffic trends, coupled with disciplined execution, and an increase in the contribution from new sites, have been the growth drivers for the business.
“Our continued emphasis on leveraging technology as a catalyst for business growth – exemplified by our EATS platform enabling direct bank-to-lounge access – marks an important step in our evolution into a tech-enabled, scalable travel hospitality company.
“With the commencement of operations at Delhi Airport Terminal 2 and Navi Mumbai International Airport, we now operate a strong network of over 530 units and have built a portfolio of 140 brands as of December 2025.
“Additionally, the mobilisation of units in the new year at Cochin Airport (Domestic Terminal), recent wins at Delhi Airport (Terminal 1) and the upcoming Noida Airport are expected to further strengthen our market leadership position. Driven by these strong contract wins and their execution being translated into on‑ground expansion, we are well positioned to deliver continuing returns for the business.”
TFS is the leading player in the fast-growing airport quick-service restaurant and lounge sectors in India. As reported, owners SSP Group and K Hospitality Corp (owned by the Kapur family) launched an initial public offering for the company in July. 
