Cox & Kings Q2 net up 79% at Rs 264 cr

Company posted a net profit of Rs 148 crore for the corresponding period of previous fiscal

Tours and travel firm Cox & Kings today reported 78.69% rise in its consolidated net profit at Rs 263.73 crore for the second quarter ended September 30, 2013, mainly on account of robust sales in education and camping segment.

The company had posted a net profit of Rs 147.59 crore for the corresponding period of previous fiscal, Cox & Kings said in a filing to BSE.

Net profit is after taxes, minority interest and share of profit/loss of the associates, it added.

Consolidated net sales of the company also rose to Rs 818.81 crore for the quarter under consideration as against Rs 688.92 crore for the same period year ago.

"Our Q2 FY'14 performance has been in line with our expectations. As this is the best quarter for our education and camping division, profitability for the quarter has been largely driven by these two divisions," Cox and Kings Director Peter Kerkar said.

The company is very positive on global as well as Indian tourism growth, he added.

"Cox & Kings operates across 4 continents and 25 countries. In India, Cox & Kings has 12 branch sales offices and 150 franchisee located across the country," the company said.

Shares of Cox & Kings were today trading at Rs 99.80 per scrip in the afternoon trade on BSE, up 8.24% from its previous close.