On consolidated basis
Quarter ended March 2023 compared
with Quarter ended March 2022.
Net sales (including other operating income) of Interglobe Aviation has
increased 76.55% to Rs 14160.6 crore.
Operating profit margin has jumped
from 0.47% to 19.43%, leading to 7,160.42% rise in operating profit to Rs
2,751.70 crore. Purchase of finished goods cost fell from 0.69% to
0.52%. Employee cost decreased from 11.59% to 9.17%.
Other expenses fell from 87.24% to 70.88%. Power and
Oil fuel cost fell from 40.14% to 39.64%. Other direct service cost
fell from 37.88% to 24.74%.
Other income rose 135.40% to Rs
439.52 crore. PBIDT rose 1,320.78% to Rs 3191.22
crore. Provision for interest rose 45.14% to Rs 918.23
crore. Loan funds rose to Rs 44,854.21 crore as of 31 March 2023
from Rs 36,877.84 crore as of 31 March 2022. Inventories rose to Rs
591.07 crore as of 31 March 2023 from Rs 408.06 crore as of 31 March
2022. Sundry debtors were higher at Rs 519.90 crore as of 31 March
2023 compared to Rs 332.92 crore as of 31 March 2022. Cash and bank
balance rose to Rs 11,839.69 crore as of 31 March 2023 from Rs 10,120.14 crore as
of 31 March 2022. Investments rose to Rs 11,558.10 crore as of 31
March 2023 from Rs 8,106.48 crore as of 31 March 2022 .
PBDT stood at Rs 2,272.99 crore
compared to loss of Rs 408.02 crore. Provision for depreciation rose
6.59% to Rs 1353.16 crore. Fixed assets increased to Rs 27,647.66
crore as of 31 March 2023 from Rs 21,381.42 crore as of 31 March
2022. Intangible assets increased from Rs 27.60 crore to Rs 31.54
crore.
Profit before tax reported profit of
Rs 919.83 crore compared to loss of Rs 1,677.51 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
expense of Rs 0.63 crore, compared to Rs 4.29 crore. Effective tax
rate was 0.07% compared to negative 0.26%.
Minority interest was nil in both
the periods.
Equity capital increased from Rs
385.26 crore as of 31 March 2022 to Rs 385.55 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 67.86% as of 31
March 2023 ,compared to 74.77% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 109.97% to Rs 54446.45 crore.
Operating profit margin has jumped
from 2.11% to 11.93%, leading to 1,086.73% rise in operating profit to Rs
6,495.34 crore. Purchase of finished goods cost rose from 0.46% to
0.53%. Employee cost decreased from 13.44% to 8.81%.
Other expenses fell from 83.99% to 78.74%. Power and
Oil fuel cost rose from 37.39% to 43.43%. Other direct service cost
fell from 37.13% to 22.07%.
Other income rose 97.76% to Rs
1434.97 crore. PBIDT rose 523% to Rs 7930.31
crore. Provision for interest rose 32.81% to Rs 3131.73
crore. Loan funds rose to Rs 44,854.21 crore as of 31 March 2023
from Rs 36,877.84 crore as of 31 March 2022. Inventories rose to Rs
591.07 crore as of 31 March 2023 from Rs 408.06 crore as of 31 March
2022. Sundry debtors were higher at Rs 519.90 crore as of 31 March
2023 compared to Rs 332.92 crore as of 31 March 2022. Cash and bank
balance rose to Rs 11,839.69 crore as of 31 March 2023 from Rs 10,120.14 crore
as of 31 March 2022. Investments rose to Rs 11,558.10 crore as of 31
March 2023 from Rs 8,106.48 crore as of 31 March 2022 .
PBDT stood at Rs 4,798.58 crore
compared to loss of Rs 1085.09 crore. Provision for depreciation
rose 0.68% to Rs 5102.97 crore. Fixed assets increased to Rs
27,647.66 crore as of 31 March 2023 from Rs 21,381.42 crore as of 31 March
2022. Intangible assets increased from Rs 27.60 crore to Rs 31.54
crore.
Loss before tax has fallen 95.05% to
Rs -304.39 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 1.4 crore, compared to
Rs 8.16 crore. Effective tax rate was negative 0.46% compared to
negative 0.13%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 95.04% to Rs -305.79 crore.
Equity capital increased from Rs
385.26 crore as of 31 March 2022 to Rs 385.55 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 67.86% as of 31
March 2023 ,compared to 74.77% as of 31 March 2022 .
Cash flow from operating activities
increased to Rs 12,727.94 crore for year ended March 2023 from Rs 2,090.58
crore for year ended March 2022. Cash flow used in acquiring fixed
assets during the year ended March 2023 stood at Rs 569.80 crore, compared to
Rs 346.88 crore during the year ended March 2022.
Operational highlights:
Q4FY2023
Capacity increased by 49.2% YoY to
30.4 billion.
Passenger numbers increased by
60.5% YoY to 23.4 million.
Yield improved by 10.2% YoY to INR
4.85 and load factor improved by 7.5 pts to 84.2%.
Average fuel prices increased by
23.5% YoY leading to increase in fuel CASK by 16.8% YoY to INR 1.85.
CASK ex fuel decreased by 21.1% to
INR 2.53 due to higher capacity.
FY2023
Capacity increased by 62.5% to
114.4 billion.
Passenger numbers increased by
71.9% to 85.6 million.
Yield improved by 20.9% to INR
5.13 and load factor improved by 8.5 pts to 82.1%.
Average fuel prices increased by
60.6% leading to increase in fuel CASK by 50.1% to INR 2.07.
CASK ex fuel decreased by 14.3% to
INR 2.76 due to higher capacity.
Management Commentary:
Commenting
on the performance the Company`s CEO, Mr. Pieter Elbers said, “With a
combination of robust market demand and focused execution of our strategy, this
was the second consecutive quarter wherein we produced strong operational and
financial results, as we reported the highest ever fourth quarter net profit of
9,192 million rupees.
The companywide initiatives
undertaken based on the three strategic pillars of Reassure, Create and Develop
enabled us to end the year on a strong note with record revenues. I would like
to thank the 86 million customers for choosing to fly with us in the financial
year ended March 2023 and the 6E employees for their immense hard-work and
dedication.”
| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202303 | 202203 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 14,160.60 | 8,020.75 | 76.55 | 54,446.45 | 25,930.93 | 109.97 | | OPM (%) | 19.43 | 0.47 | 1,896 bps | 11.93 | 2.11 | 982 bps | | OP | 2,751.70 | 37.90 | 7,160.42 | 6,495.34 | 547.33 | 1,086.73 | | Other Inc. | 439.52 | 186.71 | 135.40 | 1,434.97 | 725.60 | 97.76 | | PBIDT | 3,191.22 | 224.61 | 1,320.78 | 7,930.31 | 1,272.93 | 523.00 | | Interest | 918.23 | 632.63 | 45.14 | 3,131.73 | 2,358.02 | 32.81 | | PBDT | 2,272.99 | -408.02 | LP | 4,798.58 | -1,085.09 | LP | | Depreciation | 1353.16 | 1269.49 | 6.59 | 5102.97 | 5068.6 | 0.68 | | PBT | 919.83 | -1,677.51 | LP | -304.39 | -6153.69 | 95.05 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 919.83 | -1677.51 | LP | -304.39 | -6153.69 | 95.05 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 919.83 | -1677.51 | LP | -304.39 | -6153.69 | 95.05 | | Taxation | 0.63 | 4.29 | -85.31 | 1.4 | 8.16 | -82.84 | | PAT | 919.2 | -1681.8 | LP | -305.79 | -6161.85 | 95.04 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 919.2 | -1681.8 | LP | -305.79 | -6161.85 | 95.04 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 919.2 | -1681.8 | LP | -305.79 | -6161.85 | 95.04 | | EPS (Rs)* | 23.84 | -43.62 | LP | -7.93 | -159.82 | 95.04 | | | * EPS is on current equity of Rs 385.55 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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