On consolidated basis
Quarter ended December 2021 compared with Quarter ended December 2020.
Net sales (including other operating
income) of Interglobe Aviation has increased 89.30% to Rs 9294.77
crore.
Operating profit margin has jumped
from 17.15% to 19.19%, leading to 111.72% rise in operating profit to Rs
1,783.20 crore. Purchase of finished goods cost rose from 0.40% to
0.42%. Employee cost decreased from 16.33% to 9.44%.
Other expenses rose from 66.12% to 70.96%. Power and
Oil fuel cost rose from 23.27% to 35.17%. Other direct service cost
fell from 35.68% to 28.88%.
Other income fell 20.40% to Rs
185.31 crore. PBIDT rose 83.11% to Rs 1968.51
crore. Provision for interest rose 11.01% to Rs 601.07
crore.
PBDT stood at Rs 1,367.44 crore
compared to loss of Rs 187.59 crore. Provision for depreciation rose
6.66% to Rs 1233.78 crore.
Profit before tax reported profit of
Rs 133.66 crore compared to loss of Rs 623.13 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
debit of Rs 3.87 crore, compared to credit of Rs 2.99
crore. Effective tax rate was 2.90% compared to 0.48%.
Minority interest was nil in both
the periods.
Promoters’ stake was 74.78% as of 31
December 2021 ,compared to 74.85% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 112.77% to Rs 17910.18 crore.
Operating profit margin (OPM) has
turned from negative 6.71% to positive 2.84%, Operating profit for the quarter
stood at Rs 509.44 crore compared to loss of Rs 565.11
crore. Purchase of finished goods cost rose from 0.27% to 0.35%.
Employee cost decreased from 29.55% to 14.27%. Other
expenses rose from 76.90% to 82.53%. Power and Oil fuel cost rose
from 22.78% to 36.15%. Other direct service cost fell from 46.56%
to 34.96%.
Other income fell 40% to Rs 538.88
crore. PBIDT rose 214.81% to Rs 1048.32 crore. Provision
for interest rose 6.92% to Rs 1725.38 crore.
PBDT rose 47.14% to Rs 677.06
crore. Provision for depreciation rose 12.41% to Rs 3799.12 crore.
Loss before tax has fallen 3.96% to
Rs -4,476.18 crore. Share of profit/loss were nil in both the
periods. Provision for tax was debit of Rs 3.87 crore, compared to
credit of Rs 1.29 crore. Effective tax rate was negative 0.09%
compared to 0.03%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 3.85% to Rs -4,480.05 crore.
Promoters’ stake was 74.78% as of 31
December 2021 ,compared to 74.85% as of 31 December 2020 .
Full year results analysis.
Net sales (including other operating income) of Interglobe Aviation has
declined 59.05% to Rs 14640.63 crore.
Operating profit margin (OPM) has
turned from positive 11.35% to negative 0.09%, Operating profit for the quarter
stood loss of Rs 13.60 crore compared to profit of Rs 4,058.62
crore. Purchase of finished goods cost fell from 0.51% to 0.37%.
Employee cost increased from 13.17% to 22.51%. Other
expenses rose from 74.97% to 77.21%. Power and Oil fuel cost fell
from 34.83% to 26.17%. Other direct service cost rose from 25.94%
to 41.56%. Loss on forex transaction fell from 4.32% to 3.57%.
Other income fell 32.47% to Rs
1036.96 crore. PBIDT fell 81.71% to Rs 1023.36
crore. Provision for interest rose 14.19% to Rs 2141.98
crore. Loan funds rose to Rs 29,859.65 crore as of 31 March 2021
from Rs 22,380.12 crore as of 31 March 2020. Inventories rose to Rs
316.42 crore as of 31 March 2021 from Rs 286.13 crore as of 31 March
2020. Sundry debtors were lower at Rs 218.98 crore as of 31 March
2021 compared to Rs 259.42 crore as of 31 March 2020. Cash and bank
balance rose to Rs 11,227.67 crore as of 31 March 2021 from Rs 10,872.43 crore
as of 31 March 2020. Investments declined from Rs 9,499.24 crore as
of 31 March 2020 to Rs 7,339.49 crore as of 31 March 2021.
PBDT stood at Rs 1,118.62 crore
compared to profit of Rs 3718.26 crore. Provision for depreciation
rose 18.26% to Rs 4699.45 crore. Fixed assets increased to Rs
18,849.49 crore as of 31 March 2021 from Rs 16,874.98 crore as of 31 March
2020. Intangible assets declined from Rs 44.56 crore to Rs 38.92
crore.
Profit before tax down 2,175.62% to
Rs -5,818.07 crore. Share of profit/loss were nil in both the
periods. Provision for tax was credit of Rs 11.64 crore, compared to
credit of Rs 21.99 crore. Effective tax rate was 0.20% compared to
8.60%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 2,384.78% to Rs -5,806.43 crore.
Equity capital increased from Rs
384.80 crore as of 31 March 2020 to Rs 384.91 crore as of 31 March
2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.84% as of 31
March 2021 ,compared to 74.86% as of 31 March 2020 .
Cash flow from operating activities
has turned negative Rs 1,614.15 crore for year ended March 2021 from positive
Rs 6,971.78 crore for year ended March 2020. Cash flow used in
acquiring fixed assets during the year ended March 2021 stood at Rs 436.89
crore, compared to Rs 1,088.31 crore during the year ended March
2020.
Others: The board of directors have approved the appointment of Mr Rahul bhatia, Non Executive Director as the Managing Director of the COmpany, with effect from Feb 04,2022.
Management Commentary:
Commenting
on the performance the Company’s CEO Mr Ronojoy Dutta said, “I am pleased
that we were able to report profit for
the third quarter. It demonstrates that our business model is fundamentally
strong. our employees have remained a pillar of strength throughout this health
crisis and have steadfastly provided superior service to our customers."
| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
|---|
| Net Sales (including other operating income) | 9,294.77 | 4,909.98 | 89.30 | 17,910.18 | 8,417.68 | 112.77 | 14,640.63 | 35,756.00 | -59.05 | | OPM (%) | 19.19 | 17.15 | 203 bps | 2.84 | -6.71 | 956 bps | -0.09 | 11.35 | -1,144 bps | | OP | 1,783.20 | 842.24 | 111.72 | 509.44 | -565.11 | LP | -13.60 | 4,058.62 | PL | | Other Inc. | 185.31 | 232.79 | -20.40 | 538.88 | 898.11 | -40.00 | 1,036.96 | 1,535.51 | -32.47 | | PBIDT | 1,968.51 | 1,075.03 | 83.11 | 1,048.32 | 333.00 | 214.81 | 1,023.36 | 5,594.13 | -81.71 | | Interest | 601.07 | 541.47 | 11.01 | 1,725.38 | 1,613.74 | 6.92 | 2,141.98 | 1,875.87 | 14.19 | | PBDT | 1,367.44 | 533.56 | 156.29 | -677.06 | -1,280.74 | 47.14 | -1,118.62 | 3,718.26 | PL | | Depreciation | 1233.78 | 1156.69 | 6.66 | 3799.12 | 3379.82 | 12.41 | 4699.45 | 3973.93 | 18.26 | | PBT | 133.66 | -623.13 | LP | -4476.18 | -4660.56 | 3.96 | -5818.07 | -255.67 | -2,175.62 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 133.66 | -623.13 | LP | -4476.18 | -4660.56 | 3.96 | -5818.07 | -255.67 | -2,175.62 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 133.66 | -623.13 | LP | -4476.18 | -4660.56 | 3.96 | -5818.07 | -255.67 | -2,175.62 | | Taxation | 3.87 | -2.99 | PL | 3.87 | -1.29 | PL | -11.64 | -21.99 | 47.07 | | PAT | 129.79 | -620.14 | LP | -4480.05 | -4659.27 | 3.85 | -5806.43 | -233.68 | -2,384.78 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 129.79 | -620.14 | LP | -4480.05 | -4659.27 | 3.85 | -5806.43 | -233.68 | -2,384.78 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 129.79 | -620.14 | LP | -4480.05 | -4659.27 | 3.85 | -5806.43 | -233.68 | -2,384.78 | | EPS (Rs)* | 3.37 | -16.10 | LP | -116.31 | -120.96 | 3.85 | -150.74 | -6.07 | -2,384.78 | | | * EPS is on current equity of Rs 385.19 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|