Highlights of the Concall

• The Company posted 37% surge in net profit to Rs 811.15 crore on the back of 26% growth in total income from operation to Rs 5752.91 crore for the first quarter ended June 2017. For the quarter, passenger revenues were Rs 5078.03 crore, an increase of 28% and ancillary revenues were Rs 588.51 crore, an increase of 1.4% compared to same period last year. CASK excluding fuel was Rs 1.91, a decrease of 2.5% over the same quarter last year. OPM increased by 130 bps to 19.1%. Thus OP grew by 35% to Rs 1097.02 crore.

• The Company total capacity for the June quarter was 15.1 billion ASKs, an increase of 18.7% compared to the same period last year. This is lower than previously guided number of 22% due to the grounding of some of A320neos and the delay in neo deliveries.

• RASK for the quarter was 3.82 rupees, an increase of 5.5% from 3.62 rupees during the same quarter last year. This increase in RASK was driven by both an increase in load factors and yields. The load factors were up by 4.7 points to 88% and yields were up by 2% to 3.83 rupees.

• Network and fleet- Fleet of 135 aircraft including 22 A320neos; an increase of 4 aircraft during the quarter. Operated a peak of 937 daily flights during the quarter. Service to 46 destinations including 7 international cities; 2 new destinations during the quarter.

• Operational achievements- For the period April-June 2017, the Company had a Technical Dispatch Reliability of 99.85%, on-time performance of 85.4% at four key metros and flight cancellation rate of 1.22%.

• Cash & Debt- As of 30th June 2017, IndiGo had a total cash balance of Rs 10184.7 crore comprising of Rs 5188.8 crore of free cash and Rs 4995.9 crore of restricted cash. The total debt as on 30th June 2017 was Rs 2524.1 crore. The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt.

• The Company ranked No.1 in on-time performance and our technical dispatch reliability was 99.85% and flight cancellation rate was 1.2%.

• Update on turboprop operations- Documentation work with the aircraft (order of up to 50 ATR 72-600 aircraft) and engine manufacturers continues towards finalization of the purchase agreements and currently plan to launch commercial operations by the end of this calendar year.

• The Company expects capacity will grow at a compound annual growth rate of about 20% over the 3 year term for fiscal 2018 to fiscal 2020.

• The Company expects second quarter fiscal 2018 and full year fiscal 2018 year over year capacity increase in ASKs to be 15% and 20%, respectively.