Cox & Kings Ltd., the leading holidays and education travel group has operations in 22 countries, today announced its financial results for the quarter ended December 2017.
Q3FY1 8 Highlights:
Standalone
- Net revenues showed a robust increase of 7% to Rs. 155 crores as compared to Rs.145 crores in Q3FY17
- Industry-leading EBITDA margin of 36%
- PAT at Rs. 35 crores in Q3FY18
Consolidated
- Strong Consolidated Net revenue growth of 18% to Rs. 493 crores
- Meininger (Hybrid hotels) business saw rapid Revenue growth of 32% y-o-y
- Overall EBITDA margins (excluding foreign exchange gain/loss) rose by 300 bps to 30.8%
- Net profit jumps more than six-fold to INR 96 crores driven by margin expansion
9MFY18 Highlights:
Standalone
- Net Sales up by 10% to Rs 559 crores as against Rs.508 crores in 9MFY17
- EBITDA margin at 46.8%, the highest in the industry
- PAT at Rs 171 crores
Consolidated
- Consolidated Net revenues grew 9% to Rs 1,867 crores in 9MFY18
- Meininger (Hybrid hotels) showed stellar performance with Revenue growth of 30%
- EBITDA margins stayed strong at 42%
- Net profit grew 176% to Rs 415 crores
Consolidated (continuing operations only) segmental results
| Net Revenue | ||||||
| Q3FY18 | Q3FY17 | % growth | 9MFY18 | 9MFY17 | % growth | |
| Leisure – India | 155 | 145 | 6.8 | 559 | 508 | 10.0 |
| Leisure – International | 82 | 77 | 7.0 | 249 | 256 | (2.7) |
| Education | 75 | 68 | 10.2 | 497 | 529 | (6.0) |
| Meininger | 132 | 85 | 56.1 | 425 | 304 | 40.0 |
| Others | 49 | 45 | 9.6 | 137 | 122 | 12.1 |
| Total
Camping Camping) |
493 | 419 | 17.6 | 1,867 | 1,718 | 8.6 |
| EBITDA (excl. forex gain/loss) | ||||||
| Q3FY18 | Q3FY17 | % growth | 9MFY18 | 9MFY17 | % growth | |
| Leisure – India | 56 | 55 | 1.4 | 262 | 249 | 5.2 |
| Leisure – International | 46 | 31 | 49.4 | 133 | 113 | 17.7 |
| Education | 14 | 5 | 199.4 | 256 | 276 | (7.3) |
| Meininger | 32 | 24 | 33.2 | 136 | 132 | 2.4 |
| Others | 4 | 2 | 83.4 | 2 | (11) | |
| Total
Camping Camping) |
152 | 117 | 30.3 | 789 | 760 | 3.8 |
Management Comment:
Peter Kerkar, Group CEO, Cox & Kings Ltd said, “Our leadership position across various segments of our business got strengthened further during the quarter. Our Leisure business continued to report robust margins. Meininger’s rapid expansion story is on track and all our operations chugged along well”.
ABOUT COX & KINGS LTD: (BSE: 533144 | NSE: COX&KINGS)
Cox & Kings Ltd. (‘C&K’) is a leading leisure and education travel group 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.
