Cox & Kings Ltd's Q1FY19 consolidated adj. net profit declines 35.46% yoy to Rs141.22cr: Misses Estimates

The company’s consolidated revenue in the period stood at Rs817.25cr, up 15.83% yoy and 53.53% qoq.

Aug 14, 2018 02:08 IST India Infoline Research Team

Cox & Kings Ltd Q1FY19

Consolidated Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
Revenue 817.25 15.8
EBITDA 297.93 [20.2]
EBITDA Margin (%) 36.5 [1,642]
Net Profit (adjusted) 141.22 [35.5]
***EBITDA margin change is bps
Cox & Kings revenue for Q1FY19 grew 15.8% yoy to Rs817.25cr against Rs705.58cr in Q1FY18, beating the estimate of Rs799cr. EBITDA for the quarter declined 20.2% yoy to Rs297.93cr against Rs373.14cr, missing the estimate of Rs331cr. EBITDA margin also declined 1,642bps yoy to 36.5%. Net profit for the quarter declined by 35.5% yoy to Rs141.22cr against Rs218.81cr last year, marginally missing the estimate of Rs218.81cr.
  • The operating margins were impacted by a 115% yoy rise in other expenses to Rs274.98cr.
  • Net profit, excluding losses arising from foreign exchange fluctuations, rose 35% yoy to Rs158cr.
  • The leisure business reported revenue growth of 8.9% yoy to Rs332cr and EBITDA growth of 16% yoy to Rs181cr.
  • The education business reported revenue growth of 13.3% yoy to Rs256cr and EBITDA growth of 11.3% yoy to Rs148cr.
  • The Meininger business reported revenue growth of 41.1% yoy to Rs182cr and EBITDA growth of 20.4% yoy to Rs59cr.

Technical View:

Cox & Kings Ltd ended at Rs213.55, down 2.35 points, or 1.09%, from its previous close of Rs215.90 on the BSE. The scrip opened at Rs215 and touched a high and low of Rs216.05 and Rs210, respectively. A total of 53,953 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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