Travel company, Cox & Kings (CKL) today reported over 10-fold rise in net profit at Rs 31 crore in the quarter ended December 31, 2013 compared to the same period of previous financial year, mainly due to surge in demand for education travel.
Its net profit stood at Rs 3 crore in the corresponding period last year, the travel company said in a release.
Net sales improved by 15 per cent at Rs 408 crore during the quarter, against Rs 357 crore in the year—ago period.
“During the quarter, we have added new capacity of 802 beds at Meininger in Amsterdam. Also, we are very excited to share that our education brand PGL has purchased 200 acres in Australia and we plan to open our first centre in Australia in the coming months,” company’s Director Peter Kerkar said.
“We anticipate a strong pickup in demand for travel sector in coming quarters from the international as well as domestic markets,” Kerkar said, adding that the results indicate that the company has outperformed for the nine—month period over last year.
“The GDP of UK and Ireland is expected to grow by over two per cent in the next one year and this will benefit all our international operations,” Kerkar said.
Headquartered in India, Cox & Kings is the leading holidays and education travel group with operations in 26 countries across four continents.
In India, it has 168 offices across the country.