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Press Release-Results Q1 - FY14

Cox & Kings Ltd declares results for Q1FY14

Mumbai, 14th August 2013: Cox & Kings Ltd the leading holidays and education travel group having operations in 26 countries across continents today announced its financial results for the quarter ended June 30th, 2013.

Q1FY14 Highlights:
Consolidated
  • Net Sales improved by 10% to Rs.586 crore in Q1FY14 as against Rs 532 crore in the corresponding period last year
  • EBITDA (excl. forex gain/loss) stood at Rs. 277 crore up by 16% (y-o-y) as compared to Rs. 240 crore in Q1Fy13
  • Net profit (excluding share of profits and minority interest) grew by 18% to Rs. 156 crore as against Rs.132 crore in the corresponding period last year.
  • EBITDA margins improved by 230 bps to 47.3% as against 45% in Q1Fy13
  • EPS for the period is at Rs. 9.87 as against Rs.10.75 in the Q1Fy13


Standalone
  • Net Sales stood at Rs. 146 crore as against Rs 125 crore in Q1FY13
  • EBITDA for the quarter stood at Rs. 89 crore as against Rs.75 crore in the corresponding period last year
  • PAT stood at Rs. 65 crore as against Rs.30 crore inQ1Fy13

Cox & Kings operates across three major travel categories – Leisure Tours, Education Travel and Camping Holidays. Below is a breakup of the revenue and EBITDA for Q1 FY14 across the three travel categories –

Revenue EBITDA
  Q1FY14 Q1FY13 Q1FY14

Q1FY13

Leisure 253 246 113 104
Education 241 211 132 110
Camping 89 73 39 30
Others 3 2 -6 -4
Total 586 532 277 240


Management Comments:

Peter Kerkar, Director, Cox and Kings Ltd said, “We are happy with our performance in Q1FY14. The India business has seen robust growth, the Education business has seen a healthy performance with strong forward bookings for both FY14 and even FY15, while the Camping segment have seen significant growth over Q1FY13.

He further adds that “In the Indian markets, we believe that the demand for holiday packages will continue to grow be it domestic or outbound holidays. We have seen a growing demand for packaged holidays and we are upbeat for the remaining quarters as well.’’

Awards and Recognition:
  • Won award for the Best Company providing Foreign Exchange in India from CNBC Awaaz Travel Awards
About Cox & Kings Ltd: (Bse: 533144 | Nse: Cox & Kings)

Cox & Kings Ltd. is the longest established travel company in the world since 1758. Headquartered in India, it is a premium brand in all travel related services.

Cox & Kings operates across 4 continents and 25 countries. In India, Cox & Kings has 12 branch sales offices and 150 Franchisee located across the country.

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.

In India, the company has a robust domestic business under the brand name Bharat Deko. Its Corporate Travel division services over 200 corporate clients, including major domestic and multinational companies. The company also specialises in Trade Fairs and is a leading MICE operator out of India.

Cox & Kings is amongst the major Foreign Exchange providers in the country, placing it in league with Authorized Dealers like Foreign Exchange Nominated Banks to cater to the requirements of a whole host of customers. It has recently been granted permission to operate Nostro Accounts.

The Outbound Tours are segregated into Duniya Dekho (escorted tours), FlexiHols (customised tours), Luxury Escapades (unique & luxurious travel) & NRI (catering to Indians across the world).

Cox & Kings Ltd acquired in 2011, Holidaybreak, an education and activity travel group that has more than 15 long-established and widely recognised brands. Holidaybreak provides educational and activity trips for school children; worldwide adventure holidays; short breaks in the UK and Europe & mobile-home and camping holidays on sites throughout Europe.

For further details on this release, please contact:

Cox & Kings Ltd
Mr. Thomas C Thottathil
AVP - Corporate Communications
thomasct@coxandkings.com
Tel: 91-22-22637500
Adfactors PR, Mumbai
Neha Goenka / Shraddha Shroff
Tel: 91- 22- 67574444