Hot Pursuit     07-Feb-22
IndiGo gains after turnaround Q3 numbers
InterGlobe Aviation (IndiGo) rose 1.86% to Rs 2010.95 after the low-cost air carrier reported consolidated net profit of Rs 129.79 crore in Q3 December 2021, compared with net loss of Rs 620.14 crore in Q3 December 2020.
Revenue from operations was at Rs 9294.8 crore for the quarter, an increase of 89.3% against a 50.3% increase in capacity compared to same period last year.

EBITDAR stood at Rs 1995.5 crore with EBITDAR margin of 21.5% for the quarter, compared to EBITDAR of Rs 987.1 crore with EBITDAR margin of 20.1% for the same period last year.

Profit before tax was at Rs 133.7 crore, compared to loss before tax of Rs 623.1 crore for the same period last year

Total expenses for the quarter ended December 2021 were Rs 9346.4 crore, an increase of 62.1% over the same quarter last year.

For the quarter, the company's passenger ticket revenues were Rs 8073.1 crore, an increase of 98.4% and ancillary revenues were Rs 1141.7 crore, an increase of 41.3% compared to the same period last year.

Available seat-kilometer (ASK) rose 50.3% to 23 billion in Q3 December 2021 over 15.3 billion in Q3 December 2020.

Revenue passenger-kilometer (RPK) jumped 66.4% to 18.3 billion in Q3 December 2021 over 11 billion in Q3 December 2020.

Load factor rose 7.7 points to 79.7% in Q3 December 2021 from 72% in Q3 December 2020. Passenger load factor, or load factor, measures the capacity utilization of public transport services like airlines, passenger railways, and intercity bus services. It is generally used to assess how efficiently a transport provider fills seats and generates fare revenue.

CASK (cost per available seat-kilometre) rose 9.6% to Rs 0.40 crore in Q3 December 2021 over Rs 0.36 crore in Q3 December 2020. CASK excluding fuel stood at Rs 0.26 crore, recording a 11.1% fall over the same quarter last year.

As of 31st December 2021, IndiGo had a total cash balance of Rs 17318.9 crore comprising Rs 7814.1 crore of free cash and Rs 9504.8 crore of restricted cash. The capitalized operating lease liability was Rs 30764.5 crore. The total debt (including the capitalized operating lease liability) was Rs 35153.4 crore.

The company said that in the fourth quarter fiscal year 2022, capacity in terms of ASKs is expected to reduce by around 10-15% as compared to the third quarter fiscal year 2022.

IndiGo is amongst the fastest growing low-cost carriers in the world. As of 31st December 2021, fleet comprised 283 aircraft including 56 A320 CEOs, 140 A320 NEOs, 52 A321 NEOs and 35 ATRs; a net increase of 4 aircraft during the quarter.

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