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Press Release-Results Q2 - FY 16

Cox and Kings Ltd reports a consolidated profit of 118 crore in Q2FY16. Net Revenue & EBITDA (like-to-like) grew by 13% Y-O-Y respectively
Leisure – India and Meininger segments drive quarterly growth



Mumbai, October 31st 2015: Cox & Kings Ltd. the leading holidays and education travel group having operations in 23 countries across continents, today announced its financial results for Q2FY16.

Q2FY16 Highlights:

Consolidated
  • Net Revenue (like-to-like) up by 13% to 685 crore as against 605 crore in Q2FY15
  • EBITDA (excl. forex gain/loss) up by 13% (y-o-y) at 318 crore as compared to 281 crore in Q2FY15
  • PAT came in at 118 crore as compared to a net loss of 94 crore in the same period last year


Standalone
  • Net Revenue up by 15% to 113 crore as against 98 crore in Q2FY15
  • EBITDA up by 15 % to 50 crore as against 43 crore in the corresponding period last year
  • PAT increased by 29% to 40 crore as against 31crore in Q2FY15


H1FY16 Highlights
Consolidated excluding the discontinued operations of camping division
  • Net Sales up by 9% to 1,369 crore as against 1,253 crore in H1FY15
  • EBITDA (excl. forex gain/loss) up by 8% to 651 crore as compared to 604 crore in H1FY15
  • PAT came in at 253 crore vis-a-vis 34 crore (including Camping business) in the same period last year


Standalone
  • Net Sales up by 15% to 301 crore as against 261 crore in H1FY15
  • EBITDA (excl. forex gain/loss) for the quarter stood at 166 crore compared to 143 crore in the corresponding period last year
  • PAT was up 30% at 118 crore as against 91 crore in H1FY15


  Net Revenue
  H1FY16 H1FY15 % growth Q2FY16 Q2FY15 % growth

Leisure - India

301

261

15%

113

98

15%

Leisure - International

315

308

2%

196

187

5%

Education

480

452

6%

225

199

13%

Meininger

216

193

12%

119

95

25%

Others

54

35

56%

29

23

28%

Total excl Camping

1,366

1,249

9%

683

602

13%

Camping -

353

- -

263

-

Total incl Camping

1,366

1,602

-

683

865

-


  EBITDA (excl. forex gain/loss)
  H1FY16 H1FY15 % growth Q2FY16 Q2FY15 % growth

Leisure - India

166

143

16%

50

43

15%

Leisure - International

123

123

0%

92

94

-2%

Education

276

268

3%

124

114

8%

Meininger

105

94

12%

62

49

28%

Others

(23)

(23)

-2%

(9)

(17)

-44%

Total excl Camping

648

605

7%

318

284

12%

Camping -

201

- -

173

-

Total incl Camping

648

806

-

318

457

-


Management Comments:

Peter Kerkar, Director, Cox and Kings Ltd said, “It has been an eventful quarter for us as we continue to build on our business. As for the financial performance for the quarter, our company continues to do well with 13% growth in revenues and 13% growth in EBITDA. Leisure – India, Education and Meininger continue to be our key growth drivers.’’

He further added, ``Going forward we will continue to build on our strengths to push accelerated growth. The outlook of the industry looks buoyant and tourism domestic or international is expected to growth at good pace, which augurs well for us.”

Awards and Recognition

  1. Urrshila Kerkar, Executive Director, Cox & Kings won the Game Changer of the Year Award for 2015
  2. Winnner of Asia’s luxury tour operator at the World Travel Awards in Hong Kong.
  3. Winner of India’s leading tour operator at the World Travel Awards in Hong Kong.
  4. Winner of India’s leading travel agency at the World Travel Awards in Hong Kong.
  5. Deccan Odyssey, the luxury train managed and operated by Cox & Kings wins Asia’s leading Luxury Train award at the World Travel Awards in Hong Kong.
  6. Winner of the Best Outbound Tour Operator in India at the 11th Hospitality and Explore the World International Awards in New Delhi.
  7. Winner of the Best Domestic Tour Operator in India at the 11th Hospitality and Explore the World International Awards in New Delhi.


ABOUT COX & KINGS LTD: (BSE: 533144 | NSE: COX&KINGS)

Cox & Kings Ltd. (CKL) is one of the longest established travel companies in the world since 1758. Headquartered in India, it is the leading holidays and education travel group with operations in 23 countries across 4 continents. In India, Cox & Kings has presence in 149 cities across the country.

A premium brand in all travel related services, the business can be broadly categorised as Leisure Travel, Corporate Travel, Education & Activity Travel, MICE, Trade Fairs, Visa Processing and foreign exchange.

CKL 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 and is a leading MICE operator out of India. CKL is amongst the major Foreign Exchange providers in the country. 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).

CKL also owns Holidaybreak, an education and activity travel group based in UK. It 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. Holidaybreak also has a subsidiary in Meininger. It currently operates 16 hotels in 10 European cities.

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), European Tour Operators Association (ETOA), and the Pacific Asia Travel Association (PATA).

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
Kaustubh Ghotikar/Nupur Maheshwari
kaustubh.ghotikar@adfacotrspr.com
nupur.maheshwari@adfactorspr.com
Tel: 91- 22- 67574444