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Press Release-Results Q3 - FY 11

Cox and Kings Ltd.

9MFY11 Consolidated net sales stood at Rs 338.69 crore, grown by 29%

Mumbai, February 4th 2011: Cox and Kings Ltd., the longest established travel company today announced its financial results for the third quarter ended December 31st 2010.

Consolidated Position
Consolidated Net sales for the nine months ended December 31, 2010, grew by 29% to Rs. 338.69 crore as compared to Rs. 262.24 crore in the corresponding period of last fiscal year. Diluted Earnings per Share (EPS) for 9MFY11 worked out to Rs. 12.74 as compared to Rs. 18.74 for the same period of last fiscal year. The decrease in EPS is due to fresh issue of shares during GDR in August 2010.

Consolidated net sales for the quarter ended December 31, 2010 stood at Rs. 108.31 crore as compared to Rs. 78.89 crore, registering a growth of 37%. Net Profit for the third quarter ended December 31st, 2010 stood at Rs. 23.34 crore as compared to Rs. 19.53 crore posted in the same period of last fiscal year, grown by 20 %. Diluted Earnings per share (EPS) stood at Rs. 3.52 as compared to Rs. 4.07 in the corresponding period of last fiscal year. The decrease in EPS is due to fresh issue of shares during GDR in August 2010.

Management Comments: Peter Kerkar, Director, Cox and Kings Ltd said, "we have witnessed growth in all the segments of business that we currently operate in and this is reflected in a 37 per cent increase in our revenues this quarter. The travel industry has been growing quite significantly and we believe that we are poised to capitalize on this growth."

Cox & Kings Limited (CKL) is the longest established travel company in the world since 1758. Headquartered in India, it is a premium brand that caters to the overall travel needs of the Indian and International traveller.

Cox & Kings operates in 20 countries through branch offices, subsidiaries, representative offices, franchised sales shops as well as through our global network of sales agents.

The company has 13 branch sales offices in India located in Mumbai, New Delhi, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Jaipur, Kochi, Pune, Nagpur and Goa. The company has appointed 94 franchisees across 20 states covering 70 cities. The company’s extensive network of 185 GSAs and PSAs covering all major towns and cities of India enhances its reach.

Cox & Kings has subsidiaries in UK, Japan, Australia, New Zealand, UAE, USA, Singapore, Hong Kong, Greece & Germany; branch offices in New York, Moscow, Maldives & Tahiti; & representative offices in Spain, Germany, Italy, France, South America, Sweden and South Africa.

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

Cox & Kings is amongst the largest players with its range of specialist options. Innovative packaging, pricing and marketing have been the hallmarks of its success over the years. Among its many products are Leisure Travel- Domestic (Bharat Deko), Inbound & International, Corporate Travel, MICE, Trade Fairs, Visa Processing and Foreign Exchange. The Outbound Tours is segregated into Duniya Dekho (escorted tours), FlexiHols (customised tours), Luxury Escapades (unique & luxurious travel) & NRI (catering to Indians across the world).

Over the years the company has won many awards. In October 2010, it was voted India's Leading Destination Management Company by the World Travel Awards 2010. The company received in September 2010, the CNBC Awaaz Travel Award 2010 for "Taking India Global". Cox and Kings was awarded the "Best Outbound Tour Operator" by Hospitality India and Explore the World Annual International Awards 2010. In January 2010 it was awarded the Most Admired Tour Operator by SATTE. Cox & Kings has also been awarded First Runner up in the Best Large Tour Operator category awarded by the Telegraph Ultra Travel luxury survey UK 2010 and First Runner Up in the Favourite Tour Operator category awarded by Condé Nast Traveller Readers’ Choice Awards (2010).

CKL is one of the founding members of the World Travel and Tourism Council (WTTC), and are members of premier industry associations namely the Travel Agents Federation of India (TAFI), the Travel Agents Association of India (TAAI), Indian Association of Tour Operators (IATO), and the Pacific Asia Travel Association (PATA).

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

Adfactors PR, Mumbai
Neha Goenka / Shrinkhala Varma
Tel: 91- 22- 2281 3565