Abstract Ultrasonic velocities (V) have been determined, employing a fixed path double crystal interferometer, in three cholesteric liquid crystals, namely cholesteryl propionate, cholesteryl laurate and cholesteryl myristate in their isotropic and anisotropic phases including the region of the phase transition. The variation of specific volume (v) is also studied in the same temperature range by a special dilatometer constructed for this purpose. Anomalous behaviour of ultrasonic velocity is observed near the isotropic-cholesteric phase transition in all three compounds. In the two polymesomorphic liquid crystals, namely cholesteryl laurate and cholesteryl myristate, contrary to the ultrasonic behaviour of cholesteryl stearate, prominent velocity dips are observed at cholesteric-smectic transition temperatures. The parameters adiabatic compressibility (βad) and molar sound velocity (R) are estimated and they are found to exhibit sudden jumps at cholesteric-smectic and isotropic-cholesteric transitions. T...