Cox & Kings consolidated net profit declines by 24% to Rs 108 crore
On standalone front, the company's performance was better compared to consolidated financial reporting. Photo: Official Website
Cox & Kings - among the best tour operators in India, reported consolidated net profit of Rs 108.07 crore for the June quarter ended, 2016 (Q1FY17), a decline of 23.67% from Rs 141.60 crore in the similar period of the previous year.
The total income from operations stood at Rs 2065.12 crore, down by 3.12% versus Rs 2131.80 crore in June 2015.
Also operating profit (EBITDA - earnings before interest tax depreciation and amortization) too followed the negative sentiments with Rs 315.72 crore, declining by 6.12% year-on-year (yoy). It's opearting profit margin (OPM) was at 15.28%, contracting by 49 basis points yoy.
Peter Kerkar, Director of Cox & Kings said," We have posted robust results despite a series of adverse events in Europe, a weaker rupee against the euro and the dollar and are poised to grow substantially across business lines."
On standalone front, the company's performance was better compared to consolidated financial reporting.
The company's standalone net profit of Rs 90.66 crore, increased by 6.88% yoy. While total income from operations stood at Rs 1193.16 crore, witnessing rise of 21.20% yoy.
It's operating profit was around Rs 138.08 crore, up by 10.80% yoy. However, the company's OPM of 11.57%, contracted by 109 bps yoy.