Cox & Kings Limited (“CNK”), the leading Holidays and Education travel group having operations in 26 countries across continents, reported its financial results for the first quarter of fiscal year FY13, which is three months ending June 30, 2012.
Income from Operations increased by 239% y-o-y to Rs. 532 crores in Q1FY13 and EBITDA (excl. forex gain/loss) increased by 232% y-o-y to Rs. 2.40bn.
PBT (before share of profit of associates) increased by 194% y-o-y in Q1FY13 to Rs. 178 crores and PAT increased by 286% y-o-y to Rs. 1.47bn.
Earnings per share increased from Rs. 2.79 in Q1FY12 to Rs. 9.65 in Q1FY13.
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.
Commenting on the results for the three months ending 30th June 2012, Peter Kerkar, Director, Cox & Kings Limited said, we had a mixed performance in the leisure category, with continued robust growth in our India operations but challenging operating conditions in Japan and Europe. The education business has performed as per our expectations. Our student accommodation brand, Meininger, though not being consolidated into our results in FY13, continues to demonstrate impressive growth in the European markets. The Camping business has been marginally impacted by difficult trading condition in UK and Netherlands.We continue to be excited about consolidating our presence in India and the Education business. We also believe each of our businesses in Europe have a strong brand recall and a solid product offering to be able to withstand difficult trading conditions.