Cox and Kings Ltd. net profit rises 21% to ₹ 274 crores in H1 FY19
Mumbai, November 14th, 2018: Cox & Kings Ltd., the leading holidays and education travel group having operations in 22 countries, today announced impressive revenue growth of 16% y-o-y and adjusted net profit growth of 21% y-o-y for the half year ended September 30th, 2018.
Q2FY19 Highlights:
Consolidated (continuing operations only):
- Net revenues came in at ₹ 754 crores, an impressive growth of 16.2% yoy in Q2FY19 excluding the foreign exchange business which has been demerged into a separate company, Cox & Kings Financial Service Limited
- EBITDA (excluding foreign exchange gains/losses) came in at ₹ 296 crores
- Profit after tax excluding exceptional items and foreign exchange gain / (loss) grew by 3% y-o-y to ₹ 121 crores
H1FY19 Highlights
Consolidated (continuing operations)
- Net revenues were up 15.9% y-o-y at ₹ 1,544 crores excluding the foreign exchange business
- EBITDA (excluding foreign exchange gains/losses) came in at ₹ 669 crores, a growth of 8.4% y-o-y despite investments in the India business and higher expenses due to rapid expansion in Meininger bed capacity
- Profit before tax excluding exceptional items and foreign exchange gain / (loss) grew by 11% y-o-y to ₹ 539 crores
- Profit after tax excluding exceptional items and foreign exchange gain / (loss) was up 21% at ₹ 274 crores
Consolidated (continuing operations only) segmental results Net Revenue
| H1FY19 | H1FY18 | % growth | Q2FY19 | Q2FY18 | % growth | |
| Leisure – India | 390 | 362 | 7.5 | 150 | 133 | 12.9 |
| Leisure – International | 196 | 167 | 17.3 | 131 | 113 | 15.5 |
| Education | 487 | 421 | 15.6 | 231 | 195 | 18.6 |
| Meininger | 375 | 293 | 28.2 | 194 | 164 | 18.1 |
| Others | 96 | 88 | 9.1 | 47 | 43 | 10.5 |
| Total
Camping Camping) |
1,544 | 1,331 | 15.9 | 754 | 648 | 16.2 |
| EBITDA (excl. forex gain/loss) | ||||||
| H1FY19 | H1FY18 | % growth | Q2FY19 | Q2FY18 | % growth | |
| Leisure – India | 196 | 186 | 5.0 | 56 | 55 | 0.7 |
| Leisure – International | 107 | 87 | 22.4 | 82 | 74 | 11.1 |
| Education | 248 | 242 | 2.5 | 100 | 109 | (8.3) |
| Meininger | 121 | 103 | 17.3 | 63 | 54 | 15.3 |
| Others | (3) | (2) | – | (4) | (3) | – |
| Total
Camping Camping) |
669 | 617 | 8.4 | 296 | 289 | 2.3 |
Management Comments:
Peter Kerkar, Group CEO, Cox and Kings Ltd, said, “All our businesses posted strong revenue growth in constant currency terms in 2QFY19. We announced the sale of our Education business last month. The proceeds will be used to deleverage our balance sheet. This will rationalise our portfolio of businesses and enable us to sharpen our focus on the India travel business and strengthen execution in Meininger. ”
ABOUT COX & KINGS LTD: (BSE: 533144 | NSE: COX&KINGS)
Cox & Kings Ltd. (‘C&K’) is the oldest travel company in the world and also one of the leading leisure and education travel groups with operations in 22 countries across four continents. It is one of the most experienced travel companies in the world, having been in operation since 1758. Headquartered in India, C&K has over the last three decades transformed itself into a diversified, multinational travel conglomerate with a focus on the new-age global consumer.
C&K operates in three key verticals; Leisure, Education, Hybrid Hotels.
Leisure—India is best known by the ubiquitous Cox & Kings brand in India, where we are an integrated travel enterprise, offering the best and widest range of travel options to individuals, groups and businesses in the fastest growing major economy in the world. www.coxandkings.com
Leisure—International operates in multiple countries, mainly under the Cox & Kings brand, with a greater focus on premium-end travel. www.coxandkings.co.uk
Education operates under the brand names PGL and NST, among others. PGL and NST are market leaders in experiential learning in the UK and we intend to take these brands across the world; we have recently entered the Australian market. www.pgl.co.uk, www.nstgroup.co.uk
Meininger currently operates more than 8,500 beds across 17 hotels in 11 European cities. The unique hybrid concept of Meininger combines the service and comfort of a hotel with the uncomplicated nature of a hostel;
top locations, high-quality amenities, flexible room structure and reasonable prices. www.meininger-hotels.com
Cox & Kings is one of the founding members of the World Travel and Tourism Council (WTTC) and also a member of premier industry associations across the world. Over the years the company has won many awards which stand testimony to its excellence in service.
Cox & Kings has been the recipient of various accolades both in India and internationally. It has been winning the prestigious World Travel Award in different categories since 2013. The title of Asia’s Leading Luxury Tour Operator was retained for the 3rd time in 2017 after bagging it in 2015 and 2016. It won the title of India’s Leading Tour Operator in the year 2013, 2015, 2016, 2017 and India’s Leading Travel Agency for the 5th Consecutive time. In 2017, Cox & Kings also won Hospitality India Travel Award in Best Domestic Tour Operator and Best Outbound Tour Operator categories. It bagged the Best Experiential Travel Company by India Travel Award West. Continuing with its winning legacy, Cox & Kings won the coveted SATTE Award and Travel and Lifestyle Leadership Award for Best Outbound Tour Operator. The prestigious PATA Gold award 2017 was also presented to Cox & Kings for Marketing Media in Social Media category.
