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Without divulging details about the $1.2 billion binding bid that Yes Bank received last week, Gill said it was backed by a "large US financial institution."
Net Sales are expected to decrease by 14.1 percent Y-o-Y (down 8.4 percent Q-o-Q) to Rs. 457.1 crore, according to ICICI Direct.
In an interview to CNBC-TV18, Peter Kerkar, Group CEO of Cox & Kings spoke about the results and his outlook for the company.
Cox & Kings reported a steady set of Q1 earnings. In an interview to CNBC-TV18, Peter Kerkar, Group CEO of the company discussed more about the company's performance.
Speaking to CNBC-TV18, Peter Kerkar, Chief Executive Officer of Cox & Kings, said November's note ban had diverted business from unorganised players to the white economy.
Explaining the numbers, Peter Kerkar, Director, Cox and Kings, said that the company had sold two businesses last year as a result of which the revenues were suppressed.
Anil Khandelwal, CFO of Cox & Kings says that LateRooms acquisition will start reflecting in the company's International business going forward.
Peter Kerkar, director, Cox & Kings expects a double digit growth in education travel sector in the next quarter.
A major part of Cox and Kings revenues come from international business segment. Anil Khandelwal, CFO, Cox and Kings expects earnings from international business to grow 18-20 percent in next financial year.
Peter Kerkar, Director, Cox & Kings is confident of maintaining the current improved and high level of margins the travel company managed in its second quarter earnings. Cox & Kings impressed the street with the second quarter consolidated net profit growing by a whopping 79 percent year-on-year to Rs 264 crore on forex gain.
Peter Kerkar, Director of Cox & Kings feels April-October is a strong period for education and camping businesses, which are seasonal in nature.
Peter Kerkar, ED, Cox & Kings (India) explains to CNBC-TV18 that the company's acquisition of Holidaybreak, a company with strong cash flows, and its foray into education has supported efforts to reduce debt and boost income for the quarter. The company also plans to post a topline revenue of Rs 1,000 crore for FY13.
CNBC-TV18 catches up with the management of Cox & Kings to discuss the quarterly earnings of the company and get a perspective on the way forward for the company.
Peter Kerkar, executive director of Cox & Kings said the company has marked robust growth for the first quarter and it has come from the Indian business.
Cox & Kings has reported consolidated a net profit at Rs 23 crore for the quarter ended December 2010 as against Rs 19.3 crore in same period the previous year. Consolidated revenues increased to Rs 108 crore from Rs 78.9 crore.