Cox & Kings Shares Fall On Disappointing June Quarter Earnings

Shares of Cox & Kings fell as much as 4.5 per cent to hit intraday low of Rs 184.60 after the tour and travel firm reported weaker-than-expected June quarter earnings.

The Indian unit of global travel company Cox & Kings Group reported a 23.67 per cent dip in
consolidated net profit at Rs 108.07 crore on sales of Rs 2,065 crore.

During the same period last financial year, Cox & Kings had reported net profit of Rs 141.60 crore on sales of Rs 2,131.80 crore.

Analysts polled by NDTV Profit had expected Cox & Kings to report net profit of Rs 152 crore.
Cox & Kings's EBITDA or operating profit (excluding forex gain or loss) came in at Rs 356 crore compared with Rs 328 crore during the same quarter last year.

As of 1:17 p.m., shares of Cox & Kings traded 3.36 per cent lower at Rs 186.90, underperforming the Nifty which was up 0.6 per cent.