Cox & Kings net profit leaps to Rs 824 crore in FY 19

Leisure travel group Cox & Kings said on Friday its consolidated net revenue for the fourth quarter ending March 31 stood at Rs 452 crore, registering a growth of 18 per cent compared to Rs 385 crore in the same period of previous year.

The earnings before interest, tax, depreciation and amortisation (EBITDA) jumped by 64 per cent to Rs 149 crore as margins across all businesses improved.

Profit before tax before exceptional items more than doubled at Rs 96 crore compared to Rs 47 crore in the same period of FY 18.

For the entire fiscal 2018-19, net revenues were at Rs 2,007 crore, up 18.6 per cent compared to Rs 1,700 crore in FY18.

The EBITDA grew by 18 per cent and stood at Rs 692 crore as compared to Rs 583 crore, growing in line with revenues as margins in all businesses remained stable.

During the year, new franchise outlets were opened at Dungarpur, Tirupur, Kolkata, Greater Noida, Aurangabad, Amravati, Phagwara, Rajahmundry, Chinchwad, Cuttack, Guwahati, Ratnagiri, Porvorim, Kolkata, Thrissur, Delhi Patel Nagar, Delhi Greater Kailash II, Mehsana, Hadapsar, Uttarpara and Dwarka.

A new Holiday Club outlet was launched at Dwarka in New Delhi. Besides, two new brands.

Meininger — the hybrid hotels business — signed seven new hotels for future launch in Marseille in France, Bremen and Munich in Germany, Ferencydros district in Hungary), Reykjavik in Iceland, Lisbon in Portugal and Innsbruck in Austria.

“Our focus on the right segment in each business has led to profitable growth during the quarter and we plan to sharpen our focus further to improve future quality of earnings,” said Cox and Kings Group CEO Peter Kerkar.

In FY20, Meininger is set for continued strong growth with better margins while we aim to increase market share in the B2C travel segment in India,” he said in a statement.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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