Cox & Kings Q3 net jumps 88% to Rs 19 cr

Travel operator Cox & Kings India today posted a jump of nearly 88 per cent in net profit for the October-December quarter at Rs 19.28 crore against Rs 10.26 crore clocked in the same period last fiscal.

The company's consolidated income from operations grew 26.69 per cent at Rs 78.89 crore in the third quarter ended December 31, 2009.

Consolidated revenues stood at Rs 62.27 crore in the corresponding quarter last year, a press release said.

Cox & Kings' Executive Director Peter Kerkar, said the company's earnings were in line with expectations.

"Overall, in the forthcoming fiscal, we expect to grow along with industry figures, which we anticipate will grow around 20-25 per cent," Kerkar told PTI.

He added that India's inbound tourist travel next fiscal is likely to see a 10-15 per cent growth, especially since arrivals hit a low in the previous year led by the financial meltdown, the 26/11 terrorist attacks and swine flu.

"People who had cancelled their trips to India are now revisiting. So, we should see a double-digit growth of 10-15 per cent in in-bound traffic next fiscal," Kerkar said.

Cox & Kings provides services in leisure and corporate travel, trade fairs, visa processing and foreign exchange.