Cox & Kings drops as Q4 net loss widens

The Q4 result was announced after market hours on Thursday, 30 May 2013.

Meanwhile, the S&P BSE Sensex was down 403.14 points or 1.99% at 19,812.26.

On BSE, 4.51 lakh shares were traded in the counter as against average daily volume of lakh 66,522 shares in the past one quarter.

The stock hit a high of Rs 124.50 and a low of Rs 116.25 so far during the day. The stock had hit a record low of Rs 111.50 on 22 May 2013. The stock had hit a 52-week high of Rs 156 on 16 August 2012.

The stock had underperformed the market over the past one month till 30 May 2013, sliding 5.01% compared with the Sensex's 3.65% rise. The scrip had also underperformed the market in past one quarter, declining 5.01% as against Sensex's 7.18% surge.

The company has equity capital of Rs 68.26 crore. Face value per share is Rs 5.

Cox & Kings' consolidated net sales declined 11.58% to Rs 230.61 crore in Q4 March 2013 over Q4 March 2012. Earnings before interest, taxation, depreciation and amortization (EBITDA) surged 134.1% to Rs 47.64 crore in Q4 March 2013 over Q4 March 2012.

Cox & Kings' consolidated net profit galloped 497.3% to Rs 248.42 crore on 115.85% growth in net sales to Rs 1808.73 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

Mr. Peter Kerkar, Director, Cox & Kings said, "Our performance in FY 2013 has been in line with our expectation. Indian operations have continued to post strong set of numbers and we expect this trend to continue in FY 2014. Our Education business continues to demonstrate robust performance. Meininger, our hotel brand for student tour groups and young urban travelers, has expanded well through new hotel openings and growth in existing hotels. The Camping division has performed well by keeping tight control on costs".

Mr. Kerkar added, "The HBR businesses have been completely integrated with the Cox & Kings Group and we have seen initial success in achieving synergies through the acquisition. We expect this momentum to pick up significantly in FY 2014".

Cox & Kings is the longest established travel company in the world since 1758. Headquartered in India, it is a premium brand in all travel related services.

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