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Press Release-Results Q1 - FY 11

Cox & Kings Limited

Q1FY11 Consolidated Income from Operations grown by 24% to Rs. 123.07 crore

Editors' Synopsis
For the Quarter:
  • Income up by 24% at Rs 123.07 crore
  • PAT (before Exceptional items) up by 30% at Rs. 33.94 crore
  • EBIDTA increased by 25% to Rs. 59.12 crore

Mumbai August 2nd, 2010: Cox & Kings Ltd., one of the oldest travel companies, today announced its unaudited financial results for the first quarter ended June 30th, 2010.

Consolidated Position:
Consolidated Income from operations for the first quarter ended June 30th, 2010 was at Rs 123.07 crores as compared to Rs 99.61 crores posted in the corresponding period of the last fiscal, registering a growth of 24%. Net profit after tax before exceptional items stood at Rs 33.94 as compared to Rs 26.06 crores in the corresponding quarter of last year; registering a growth of 30%. EBITDA margin for Q1FY11 stood at 48.03 % as against 47.46 % in Q1FY10.

The company has taken foreign currency borrowings for the acquisitions done over last 2 years through its subsidiaries. Exceptional items consists of exchange difference accounted by subsidiaries on restatement of such foreign currency borrowings.

Management Comments:
Commenting on the results Peter Kerkar, Executive Director, Cox & Kings Ltd. said, "We are happy to announce a growth of 30 per cent PAT which is in line with our growth strategies."

Major Developments:
The company has changed its name from Cox & Kings (India) Limited to Cox & Kings Limited to reflect the global nature of the business.

About Cox and Kings Ltd: (BSE: 533144 | NSE: COX&KINGS)
Cox & Kings Ltd., is one of the oldest travel companies whose distinguished history began when it was appointed as general agents to the regiment of Foot Guards in India under the command of Lord Ligonier, it handled the Royal Cavalry, Artillery and Infantry, Royal Wagon Train, the Household Brigade, the Royal Navy and the Royal Air Force also came under its wings.

It is a premium brand in all travel related services, employing over 1,400 professionals headquartered in India. The business can be broadly categorized as Leisure Travel, Corporate Travel, MICE, Trade Fairs, Visa Processing and Foreign Exchange.

The company is networked through a mix of branch sales offices, franchised sales shops, General Sales Agents (GSAs), and Preferred Sales Agents (PSAs). The company has 14 branch sales offices located in Mumbai, New Delhi, Chennai, Kolkatta, Bangalore, Hyderabad, Ahmedabad, Jaipur, Kochi, Pune, Nagpur and Goa. The company has also appointed 94 franchisees across 20 states covering 70 cities. Its extensive network of 185 GSAs and PSAs covers all major towns and cities of India.

It has subsidiaries in UK, Australia, New Zealand, Japan, USA, UAE and Singapore and operates from Moscow (Russia), Maldives and Tahiti through branch offices and Spain, Sweden, Germany, Italy, France, South America and South Africa through representative offices.

The company owns Tempo Holidays Australia, East India Travel Company in North America, ETN in the UK and Quoprro Global Services Private Limited. In December 2009, it also acquired MyPlanet Australia Pty Ltd and Bentours International Pty Ltd in Australia.

Over the last two years the company has won many awards. In January 2010, it won the Most Admired Tour Operator Award at SATTE 2010, in New Delhi. In 2009 it won the Best Domestic Tour Operator, Most Innovative Travel Company and the Best Inbound Tour Operator Award at the TAFI-Travel Biz Monitor Awards. It won the Today’s Traveller Platinum Award for the most Innovative Travel Company and has also won the Economic Times Award for the best Outbound Tour Operator in India.

For further details on this release, please contact:
Cox and Kings Limited
Mr. Thomas C Thottathil
Head - Corporate Communications
thomasct@coxandkings.com
Tel: 91 - 22 - 22637500

Adfactors PR, Mumbai
Shrinkhala Varma / Rama Naidu
Tel: 91 - 22 - 2281 3565