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Press Release-Results Q4 - FY 11


Mumbai, May 30th, 2011: Cox and Kings Ltd., the longest established travel company today announced its audited financial results for the year ended March 31, 2011. The Board of Directors has recommended a dividend of Re. 1 per share subject to approval of the shareholders.

Consolidated Position:
Consolidated Income from operations for FY11 rose by 24% to Rs 496.74 crores, as against Rs 399.15 crores posted in the last fiscal year (FY10). EBITDA for FY11 rose by 23% to Rs.230.06 Crores as against Rs.186.44 Crores posted in the last fiscal year (FY10). Consolidated PAT (after excluding effect of exceptional gain) for the year ended March 31, 2011, grew by 13% to Rs. 120.30 crore as compared to Rs. 106.43 crore in the corresponding period of last fiscal year (FY10).

Consolidated income from operations for Q4FY11 was at Rs. 158.75 crores, as compared to Rs. 136.92 crores posted in the same period of last fiscal year (Q4FY10), indicating a growth of 16%. EBITDA for Q4FY11 rose by 15% to Rs.82.56 Crores as against Rs.71.97 Crores posted in the same period of the last fiscal year (Q4FY10). Consolidated Net Profit After Tax (PAT) (after excluding exceptional gain) for the quarter ended March 31, 2011 was at Rs. 46.67 crores as compared to Rs. 42.60 crore in the corresponding period of the last fiscal (Q4FY10); registering a growth of 10%.

Management Comments:
Commenting on the results Peter Kerkar, Director, Cox & Kings Ltd said "Our results are in line with our expectations and we have registered a healthy growth, both in income from operations and EBITDA".

Key Highlights:
Cox & Kings Ltd issued Global Depository Receipts (GDR) at Rs.569.20 per share amounting to USD 65 million on August 16th 2010. The GDRs is listed on the Stock Exchange at Luxembourg. The company plans to utilise the GDR proceeds to fund largely its acquisition plans. The GDR constitutes 7.82 per cent of the fully diluted post issue paid up capital of the company.

Cox & Kings Ltd. (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 and Goa. The company has appointed over 150 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). In 2009, it won the Best Domestic Tour Operator, Most Innovative Travel Company and the Best Inbound Tour Operator award at the TAFI TravelBiz Monitor Awards. It won the Today's Traveller Platinum Award for the most innovative travel company and it also won the Economic Times Award for the Best Outbound Tour Operator in India. In 2008, Mr. Peter Kerkar, Global CEO, Cox & Kings was honoured with the WTM Global Award 2008 for his remarkable contribution to the travel and tourism industry by the World Travel Market (WTM).

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:
Mr. Thomas C Thottathil
Head - Corporate Communications
Cox & Kings Ltd
Tel: 91-22-22637500

Ms Neha Geonka / Shrinkhala Varma
Adfactors PR
Tel: 022-22813565