Cox and Kings Ltd, one of India's oldest travel agents, on Friday reported close to 10-fold jump in its consolidated net profit for the December quarter to Rs 30.91 crore from Rs 3.33 crore the company posted during the corresponding preiod of the previous fiscal, due to a decrease in its expenses.
The advertising expenses of the company fell by 33% yoy to Rs 25.6 crore during the third quarter of financial year 2014 while the other expenses of the company fell by 17% to Rs 85.5 crore during the same period.
Collectively these expenses declined by Rs 29.6 crore in turn boosting the company's opearting profit by nearly 57% year-over-year (yoy) to Rs 105 crore for the three months to December 2013.
The company's consolidated income from operation increased by 14% to Rs 407.66 during the quarter under considerationto Rs 407.7 crore from Rs 357.2 crore for the same period year ago.
The scrip of Cox & Kings closed at Rs 139.40 on Friday up 5.49% from previous close.