Mumbai: 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. ”