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Ctrip Q2 net profit soars 33%

(Agencies)
Updated: 2009-08-06 08:05

The travel service provider reported net revenue of 476 million yuan for the second quarter. [CFP]

Ctrip.com International Ltd, a leading travel service provider for hotel accommodations, airline tickets and packaged tours in China, yesterday said its second quarter net profit rose 33 percent year-on-year.

Net profit attributable to Ctrip's shareholders was 159 million yuan in the second quarter of this year.

Net revenues for the period rose 27 percent to 476 million yuan. Gross margin stood at 77 percent for the second quarter of 2009, compared to 79 percent in the same period in 2008.

Income from operations rose 29 percent to 164 million yuan during the second quarter of this year.

"We are pleased that our team once again delivered solid results in the second quarter of 2009. We strengthened our competitiveness despite the challenges that we faced during this period," said Fan Min, chief executive officer, Ctrip.

"We will continue to improve our customer service, to apply new technologies, and broaden sales and marketing channels in order to extend our leadership."

Related readings:  Ctrip profit up 66 percent in 2007 Troubled Gome sees 7% fall in 2008 net profit   China Construction Bank net profit declines 18.2% in Q1  CDB posts 20.8b yuan in net profit last year

For the second quarter of 2009, Ctrip reported total revenues of 508 million yuan, representing a 26 percent increase from the same period in 2008 and an 18 percent increase from the previous quarter.

Hotel reservation revenues amounted to 227 million yuan for the second quarter, representing a 16 percent increase year-on-year, and a 21 percent increase quarter-on-quarter.

Air-ticketing revenues for the April-June period was 222 million yuan, a 32 percent year-on-year growth, and a 20 percent increase quarter-on-quarter.

Packaged-tour revenues for the second quarter of 2009 was 36 million yuan, representing a 51 percent increase year-on-year, but a 5 percent decrease quarter-on-quarter.