On consolidated basis
Quarter ended December 2022 compared
with Quarter ended December 2021.
Net sales (including other operating income) of Interglobe Aviation has
increased 60.66% to Rs 14932.97 crore.
Operating profit margin has jumped
from 19.19% to 20.88%, leading to 74.84% rise in operating profit to Rs
3,117.75 crore. Purchase of finished goods cost rose from 0.42% to
0.54%. Employee cost decreased from 9.44% to 8.60%. Other
expenses fell from 70.96% to 69.98%. Power and Oil fuel cost rose
from 35.17% to 38.74%. Other direct service cost fell from 28.88%
to 19.91%.
Other income rose 157.53% to Rs
477.23 crore. PBIDT rose 82.62% to Rs 3594.98
crore. Provision for interest rose 37.97% to Rs 829.31 crore.
PBDT stood at Rs 2,765.67 crore
compared to loss of Rs 345.63 crore. Provision for depreciation rose
8.80% to Rs 1342.36 crore.
Profit before tax grew 964.87% to Rs
1,423.31 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 0.71 crore, compared to
Rs 3.87 crore. Effective tax rate was 0.05% compared to 2.90%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 996.08% to Rs 1,422.60 crore.
Promoters’ stake was 71.92% as of 31
December 2022 ,compared to 74.78% as of 31 December 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 124.93% to Rs 40285.85 crore.
Operating profit margin has jumped
from 2.84% to 9.29%, leading to 634.86% rise in operating profit to Rs 3,743.66
crore. Purchase of finished goods cost rose from 0.35% to 0.53%.
Employee cost decreased from 14.27% to 8.68%. Other
expenses fell from 82.53% to 81.50%. Power and Oil fuel cost rose
from 36.15% to 44.76%. Other direct service cost fell from 34.96%
to 21.13%.
Other income rose 84.72% to Rs
995.44 crore. PBIDT rose 352.07% to Rs 4739.1
crore. Provision for interest rose 28.29% to Rs 2213.5 crore.
PBDT stood at Rs 2,525.60 crore
compared to loss of Rs 677.06 crore. Provision for depreciation fell
1.30% to Rs 3749.81 crore.
Loss before tax has fallen 72.65% to
Rs -1,224.21 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 0.78 crore, compared to
Rs 3.87 crore. Effective tax rate was negative 0.06% compared to
negative 0.09%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 72.66% to Rs -1,224.99 crore.
Promoters’ stake was 71.92% as of 31
December 2022 ,compared to 74.78% as of 31 December 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.
Management Commentary:
Commenting
on the performance the Company`s CEO, Mr. Pieter Elbers said, “Third quarter
performance was strong both operationally and financially in the backdrop of
robust demand for air travel. The wide range of initiatives that were set in
motion across the organization have started to yield results. I am proud to
report the highest ever quarterly revenue of 154.1 billion rupees and robust
profit of 14.2 billion rupees for the third quarter of fiscal year 2023. We are
thankful to our customers and all IndiGo employees who enabled us to achieve
this performance. With a modern fleet of over 300 aircraft, we continue to
serve the market with further capacity growth planned across domestic and international
sectors.”
| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 14,932.97 | 9,294.77 | 60.66 | 40,285.85 | 17,910.18 | 124.93 | 25,930.93 | 14,640.63 | 77.12 | | OPM (%) | 20.88 | 19.19 | 169 bps | 9.29 | 2.84 | 645 bps | 2.11 | -0.09 | 220 bps | | OP | 3,117.75 | 1,783.20 | 74.84 | 3,743.66 | 509.44 | 634.86 | 547.33 | -13.60 | LP | | Other Inc. | 477.23 | 185.31 | 157.53 | 995.44 | 538.88 | 84.72 | 725.60 | 1,036.96 | -30.03 | | PBIDT | 3,594.98 | 1,968.51 | 82.62 | 4,739.10 | 1,048.32 | 352.07 | 1,272.93 | 1,023.36 | 24.39 | | Interest | 829.31 | 601.07 | 37.97 | 2,213.50 | 1,725.38 | 28.29 | 2,358.02 | 2,141.98 | 10.09 | | PBDT | 2,765.67 | 1,367.44 | 102.25 | 2,525.60 | -677.06 | LP | -1,085.09 | -1,118.62 | 3.00 | | Depreciation | 1342.36 | 1233.78 | 8.80 | 3749.81 | 3799.12 | -1.30 | 5068.6 | 4699.45 | 7.86 | | PBT | 1,423.31 | 133.66 | 964.87 | -1224.21 | -4476.18 | 72.65 | -6153.69 | -5818.07 | -5.77 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1423.31 | 133.66 | 964.87 | -1224.21 | -4476.18 | 72.65 | -6153.69 | -5818.07 | -5.77 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1423.31 | 133.66 | 964.87 | -1224.21 | -4476.18 | 72.65 | -6153.69 | -5818.07 | -5.77 | | Taxation | 0.71 | 3.87 | -81.65 | 0.78 | 3.87 | -79.84 | 8.16 | -11.64 | PL | | PAT | 1422.6 | 129.79 | 996.08 | -1224.99 | -4480.05 | 72.66 | -6161.85 | -5806.43 | -6.12 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 1422.6 | 129.79 | 996.08 | -1224.99 | -4480.05 | 72.66 | -6161.85 | -5806.43 | -6.12 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1422.6 | 129.79 | 996.08 | -1224.99 | -4480.05 | 72.66 | -6161.85 | -5806.43 | -6.12 | | EPS (Rs)* | 36.91 | 3.37 | 996.08 | -31.78 | -116.22 | 72.66 | -159.85 | -150.63 | -6.12 | | | * EPS is on current equity of Rs 385.47 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 |
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