On consolidated basis
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of Interglobe Aviation has
increased 327.52% to Rs 12855.29 crore.
Operating profit margin (OPM) has
turned from negative 48.71% to positive 4.66%, Operating profit for the quarter
stood at Rs 598.65 crore compared to loss of Rs 1,464.77
crore. Purchase of finished goods cost rose from 0.25% to 0.56%.
Employee cost decreased from 29.17% to 8.23%. Other
expenses fell from 119.31% to 86.55%. Power and Oil fuel cost rose
from 40.45% to 46.59%. Other direct service cost fell from 50.92%
to 21.79%.
Other income rose 0.10% to Rs 163.51
crore. PBIDT stood at Rs 762.16 crore compared to loss of Rs 1301.43
crore. Provision for interest rose 18.20% to Rs 656.6
crore.
PBDT stood at Rs 105.56 crore
compared to loss of Rs 408.02 crore. Provision for depreciation fell
11.19% to Rs 1169.8 crore.
Loss before tax has fallen 66.47% to
Rs -1,064.24 crore. Share of profit/loss were nil in both the
periods. Provision for tax remained nil
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 66.47% to Rs -1,064.26 crore.
Promoters’ stake was 74.77% as of 30
June 2022 ,compared to 74.84% as of 30 June 2021 .
Full year results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 77.12% to Rs 25930.93 crore.
Operating profit margin (OPM) has
turned from negative 0.09% to positive 2.11%, Operating profit for the quarter
stood at Rs 547.33 crore compared to loss of Rs 13.60
crore. Purchase of finished goods cost rose from 0.37% to 0.46%.
Employee cost decreased from 22.51% to 13.44%. Other
expenses rose from 77.21% to 83.99%. Power and Oil fuel cost rose
from 26.17% to 37.39%. Other direct service cost fell from 41.56%
to 37.13%.
Other income fell 30.03% to Rs 725.6
crore. PBIDT rose 24.39% to Rs 1272.93 crore. Provision
for interest rose 10.09% to Rs 2358.02 crore. Loan funds rose to Rs
36,877.84 crore as of 31 March 2022 from Rs 29,859.65 crore as of 31 March
2021. Inventories rose to Rs 408.06 crore as of 31 March 2022 from
Rs 316.42 crore as of 31 March 2021. Sundry debtors were higher at
Rs 332.92 crore as of 31 March 2022 compared to Rs 218.98 crore as of 31 March
2021. Cash and bank balance declined from Rs 11,227.67 crore as of
31 March 2021 to Rs 10,120.14 crore as of 31 March 2022. Investments
rose to Rs 8,106.48 crore as of 31 March 2022 from Rs 7,339.49 crore as of 31
March 2021 .
PBDT rose 3% to Rs 1085.09
crore. Provision for depreciation rose 7.86% to Rs 5068.6
crore. Fixed assets increased to Rs 21,381.42 crore as of 31 March
2022 from Rs 18,849.49 crore as of 31 March 2021. Intangible assets
declined from Rs 38.92 crore to Rs 27.60 crore.
Profit before tax down 5.77% to Rs
-6,153.69 crore. Share of profit/loss were nil in both the
periods. Provision for tax was debit of Rs 8.16 crore, compared to
credit of Rs 11.64 crore. Effective tax rate was negative 0.13%
compared to 0.20%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 6.12% to Rs -6,161.85 crore.
Equity capital increased from Rs
384.91 crore as of 31 March 2021 to Rs 385.26 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.77% as of 31
March 2022 ,compared to 74.84% as of 31 March 2021 .
Cash flow from operating activities
has turned positive Rs 2,090.58 crore for year ended March 2022 from negative
Rs 1,614.15 crore for year ended March 2021. Cash flow used in
acquiring fixed assets during the year ended March 2022 stood at Rs 346.88
crore, compared to Rs 436.89 crore during the year ended March
2021.
Operational highlights:
For the quarter ended June 30, 2022 compared to the same
period last year
Passenger numbers increased by 221.9%
Yield improved by 50.3% and load factor improved
by 20.9 points.
Capacity increased by 145.0%.
Fuel prices increased by 95.5%.
CASK ex fuel decreased by 35.1% due to increase
in capacity deployed
Management Commentary:
The Company’s CEO, Mr. Ronojoy
Dutta said, “Our revenue performance this quarter was impressive. We reported
the highest ever revenue generated by the company and thereby produced profits
at an operational level. However, cost pressures on fuel and foreign exchange
prevented us from translating this strong revenue performance into net
profitability.
While our financial performance in the second
quarter will be challenged by weak seasonality, the long-term revenue trend
remains strong”| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 12,855.29 | 3,006.91 | 327.52 | 25,930.93 | 14,640.63 | 77.12 | | OPM (%) | 4.66 | -48.71 | 5,337 bps | 2.11 | -0.09 | 220 bps | | OP | 598.65 | -1,464.77 | LP | 547.33 | -13.60 | LP | | Other Inc. | 163.51 | 163.34 | 0.10 | 725.60 | 1,036.96 | -30.03 | | PBIDT | 762.16 | -1,301.43 | LP | 1,272.93 | 1,023.36 | 24.39 | | Interest | 656.60 | 555.49 | 18.20 | 2,358.02 | 2,141.98 | 10.09 | | PBDT | 105.56 | -1,856.92 | LP | -1,085.09 | -1,118.62 | 3.00 | | Depreciation | 1169.8 | 1317.26 | -11.19 | 5068.6 | 4699.45 | 7.86 | | PBT | -1,064.24 | -3,174.18 | 66.47 | -6153.69 | -5818.07 | -5.77 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | -1064.24 | -3174.18 | 66.47 | -6153.69 | -5818.07 | -5.77 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | -1064.24 | -3174.18 | 66.47 | -6153.69 | -5818.07 | -5.77 | | Taxation | 0.02 | 0 | - | 8.16 | -11.64 | PL | | PAT | -1064.26 | -3174.18 | 66.47 | -6161.85 | -5806.43 | -6.12 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | -1064.26 | -3174.18 | 66.47 | -6161.85 | -5806.43 | -6.12 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -1064.26 | -3174.18 | 66.47 | -6161.85 | -5806.43 | -6.12 | | EPS (Rs)* | -27.62 | -82.39 | 66.47 | -159.94 | -150.72 | -6.12 | | | * EPS is on current equity of Rs 385.25 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 |
|
|