Cox & Kings - result 12-11-2012

Cox & Kings Q2 net profit at Rs1476mn Income from Operations increased by 404% y-o-y to Rs 6890mn in Q2FY13 and EBITDA (excl. forex gain/loss) increased by 612% y-o-y to Rs3872mn.

Cox & Kings Limited (“CNK”), the leading specialist Holidays and Education Travel Group having operations in 26 countries across continents, reported its financial results for the second quarter of fiscal year FY13, which is three months ending September 30, 2012. Highlights: Consolidated Income from Operations increased by 404% y-o-y to Rs 6890mn in Q2FY13 and EBITDA (excl. forex gain/loss) increased by 612% y-o-y to Rs3872mn. PBT (before share of associates) increased by 457% y-o-y in Q2FY13 to INR 2367mn and PAT increased by 438% y-o-y to Rs1476mn Earnings per share increased from Rs 2.01 in Q2FY12 to Rs10.03 in Q2FY13. Standalone Income from Operations increased by 43% y-o-y to INR 778mn in Q2FY13 and EBITDA (excl. forex gain/loss) increased by 69% y-o-y to INR 350mn. PBT decreased by 74% y-o-y in Q2FY13 to INR 46mn and PAT decreased by 87% y-o-y to INR 16mn. Post Holidaybreak acquisition, Cox & Kings now operates across three major travel categories – Leisure Tours, Education Travel and Camping Holidays. FY13 would be the first full year of consolidating Holidaybreak Ltd. Below is a breakup of the revenue and EBITDA for Q1 FY13 across the three travel categories – Commenting on the results for the three months ending 30th September 2012, Peter Kerkar, Director, Cox & Kings Limited said, I am extremely pleased with the results for this quarter. Our performance in the leisure category, is robust with India continuing to register strong growth and the education business has also delivered robust performance. Our student accommodation brand, Meininger, though not being consolidated into our results in FY13, continues to record good YoY growth in the European markets. The Camping business gave a resilient performance.

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