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Press Release-Results Q2 - FY 12

Cox & Kings Limited
Q2FY12 Consolidated Income from Operations increased by 27.42 % to Rs 136.72 Cr

Mumbai, November 14th 2011: Cox & Kings Ltd., the world’s longest established travel company, today announced its financial results for the first quarter ended June 30th, 2011.

Quarterly Performance:
Consolidated income from operations for the quarter ended September 30th 2011 (Q2FY12) was at Rs. 136.72 crores as compared to Rs. 107.30 crores for the quarter ended September 30th 2010 (Q2FY11); registering a growth of 27.42 per cent. Net profit before exceptional items stood at Rs 29.43 crore as compared to Rs 24.65 crore in the corresponding quarter of last year; an increase of 19.39 %. The EBITDA for Q2FY12 stood at Rs 54.38 crores as against Rs 48.79 crores in Q2FY11; an increase of 11.45 %. The EBITDA earnings per share (EPS) stood at Rs 2.01 as compared to Rs 2.71 in the corresponding period of last quarter, after considering exceptional items.

Half Yearly Performance:
Consolidated income from operations for the half year ended September 30th 2011 (H1FY12) rose by 27.47 % at Rs 293.65 crores as against Rs 230.37 crores for the half year ended September 30th 2010 (H1FY11). Consolidated Net profit before exceptional items for H1FY12 six month end stood at Rs 65.17 crores as compared to Rs 59.41 crores posted in the corresponding period of last fiscal, registering a growth of 9.70 %. EBITDA for H1FY12 is at Rs 124.24 crores as against Rs 108.56 crores in H1FY11; an increase of 14.44 %.The earnings per share for H1FY12 stood at Rs 4.78 as compared to Rs 4.72 in the corresponding period of last fiscal, after considering exceptional items.

Key Development:
During the quarter, the company completed the acquisition of Holidaybreak Plc at a price of 432.1 pence per share

Management Comments:
According to Peter Kerkar, Director, Cox & Kings Ltd, "We have registered growth, both in domestic and foreign operations and the businesses have performed well in line of our expectations. The acquisition of Holidaybreak Plc will further give robustness to our existing P&L."

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, Indore, 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), 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. Recently, in November 2011, Cox & Kings Ltd. was voted the "Specialist – Best All Inclusive Travel Operator" by the British Travel Awards 2011; "Best Outbound Tour Operator" by Hospitality India & Explore the World Annual International Awards 2011 & ranked "274" amongst Business Today’s Top 500 Indian Companies for 2011. In October 2011, Cox and Kings Ltd was voted as the Most Entrepreneurial Travel Company by TTG Travel Awards and in August 2011, The Best Travel Company for Customer Satisfaction by Today’s Traveller.

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:
Cox & Kings Ltd

Mr. Thomas C Thottathil
Head - Corporate Communications
Tel: 91-22-22637500

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