On consolidated basis
Quarter ended March 2024 compared
with Quarter ended March 2023.
Net sales (including other operating income) of Interglobe Aviation has
increased 25.88% to Rs 17825.27 crore.
Operating profit margin has jumped
from 19.43% to 22.40%, leading to 45.13% rise in operating profit to Rs
3,993.51 crore. Purchase of finished goods cost fell from 0.52% to
0.49%. Employee cost increased from 9.17% to 10.09%. Other
expenses fell from 70.88% to 67.02%. Power and Oil fuel cost fell
from 39.64% to 33.54%. Other direct service cost fell from 24.74%
to 24.30%.
Other income rose 54.68% to Rs
679.84 crore. PBIDT rose 46.44% to Rs 4673.35
crore. Provision for interest rose 19.70% to Rs 1099.13
crore. Loan funds rose to Rs 51,280.02 crore as of 31 March 2024
from Rs 44,854.21 crore as of 31 March 2023. Inventories rose to Rs
624.80 crore as of 31 March 2024 from Rs 591.07 crore as of 31 March
2023. Sundry debtors were higher at Rs 642.52 crore as of 31 March
2024 compared to Rs 519.90 crore as of 31 March 2023. Cash and bank
balance rose to Rs 16,720.61 crore as of 31 March 2024 from Rs 11,839.69 crore
as of 31 March 2023. Investments rose to Rs 16,545.96 crore as of 31
March 2024 from Rs 11,558.10 crore as of 31 March 2023 .
PBDT rose 57.25% to Rs 3574.22
crore. Provision for depreciation rose 33.26% to Rs 1803.25
crore. Fixed assets increased to Rs 36,105.36 crore as of 31 March
2024 from Rs 27,647.66 crore as of 31 March 2023. Intangible assets
increased from Rs 31.54 crore to Rs 49.67 crore.
Profit before tax grew 92.53% to Rs
1,770.97 crore. Share of profit/loss were nil in both the
periods. Provision for tax was credit of Rs 123.85 crore, compared
to debit of Rs 0.63 crore. Effective tax rate was negative 6.99%
compared to 0.07%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 106.14% to Rs 1,894.82 crore.
Equity capital increased from Rs
385.55 crore as of 31 March 2023 to Rs 385.98 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 57.29% as of 31
March 2024 ,compared to 67.86% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 26.55% to Rs 68904.34 crore.
Operating profit margin has jumped
from 11.93% to 23.68%, leading to 151.22% rise in operating profit to Rs
16,317.57 crore. Purchase of finished goods cost fell from 0.53% to
0.49%. Employee cost increased from 8.81% to 9.38%.
Other expenses fell from 78.74% to 66.45%. Power and
Oil fuel cost fell from 43.43% to 34.70%. Other direct service cost
rose from 22.07% to 22.69%.
Other income rose 62.15% to Rs
2326.82 crore. PBIDT rose 135.10% to Rs 18644.39
crore. Provision for interest rose 33.13% to Rs 4169.35
crore. Loan funds rose to Rs 51,280.02 crore as of 31 March 2024
from Rs 44,854.21 crore as of 31 March 2023. Inventories rose to Rs 624.80
crore as of 31 March 2024 from Rs 591.07 crore as of 31 March
2023. Sundry debtors were higher at Rs 642.52 crore as of 31 March
2024 compared to Rs 519.90 crore as of 31 March 2023. Cash and bank
balance rose to Rs 16,720.61 crore as of 31 March 2024 from Rs 11,839.69 crore
as of 31 March 2023. Investments rose to Rs 16,545.96 crore as of 31
March 2024 from Rs 11,558.10 crore as of 31 March 2023 .
PBDT rose 201.65% to Rs 14475.04
crore. Provision for depreciation rose 25.92% to Rs 6425.73
crore. Fixed assets increased to Rs 36,105.36 crore as of 31 March
2024 from Rs 27,647.66 crore as of 31 March 2023. Intangible assets
increased from Rs 31.54 crore to Rs 49.67 crore.
Profit before tax reported profit of
Rs 8,049.31 crore compared to loss of Rs 304.39 crore. Share of profit/loss
were nil in both the periods. Provision for tax was credit of Rs
123.16 crore, compared to debit of Rs 1.4 crore. Effective tax rate
was negative 1.53% compared to negative 0.46%.
Minority interest was nil in both
the periods.
Equity capital increased from Rs
385.55 crore as of 31 March 2023 to Rs 385.98 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 57.29% as of 31
March 2024 ,compared to 67.86% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 21,217.58 crore for year ended March 2024 from Rs 12,727.94
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 1,102.65 crore, compared to
Rs 569.80 crore during the year ended March 2023.
Operational highlights:
Q4FY2024
Capacity increased by 14.4% YoY to
34.8 billion .
Passengers increased by 14.0% to 26.7 million.
Yield increased by 7.0% to Rs 5.19
and load factor improved by 2.1 points to 86.3%.
Reduction in fuel CASK by 6.9% to
Rs 1.72.
CASK ex fuel increased by 14.7% to
Rs 2.90.
FY2024
Capacity increased by 21.8% YoY to
139.3 billion .
Passengers increased by 24.7% to 106.7 million.
Yield decreased by 1.0% to Rs 5.08
and load factor improved by 3.8 points to 85.9%.
Reduction in fuel CASK by 17.0% to
Rs 1.72.
CASK ex fuel decreased by 3.6% to
Rs 2.66.
Management Commentary:
Commenting
on the performance the Company`s CEO, Mr. Pieter Elbers said, “FY24 has
been a year of many remarkable achievements and milestones. For the full
financial year 2024, we reported our highest ever total income of around 712
billion rupees with a net profit of around 82 billion rupees and a net profit
margin of 11.9%. The 4th quarter financial results were positive, making it all
four quarters in FY24 profitable. The strong execution of our strategy has
yielded consistent results for us as we achieved the targets that we had set
for ourselves as a team at the beginning of the year. My sincere gratitude to
our 107 million customers for placing their trust in us and to all my IndiGo
colleagues for their great work and relentless dedication.”
| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 17,825.27 | 14,160.60 | 25.88 | 68,904.34 | 54,446.45 | 26.55 | | OPM (%) | 22.40 | 19.43 | 297 bps | 23.68 | 11.93 | 1,175 bps | | OP | 3,993.51 | 2,751.70 | 45.13 | 16,317.57 | 6,495.34 | 151.22 | | Other Inc. | 679.84 | 439.52 | 54.68 | 2,326.82 | 1,434.97 | 62.15 | | PBIDT | 4,673.35 | 3,191.22 | 46.44 | 18,644.39 | 7,930.31 | 135.10 | | Interest | 1,099.13 | 918.23 | 19.70 | 4,169.35 | 3,131.73 | 33.13 | | PBDT | 3,574.22 | 2,272.99 | 57.25 | 14,475.04 | 4,798.58 | 201.65 | | Depreciation | 1803.25 | 1353.16 | 33.26 | 6425.73 | 5102.97 | 25.92 | | PBT | 1,770.97 | 919.83 | 92.53 | 8049.31 | -304.39 | LP | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1770.97 | 919.83 | 92.53 | 8049.31 | -304.39 | LP | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1770.97 | 919.83 | 92.53 | 8049.31 | -304.39 | LP | | Taxation | -123.85 | 0.63 | LP | -123.16 | 1.4 | LP | | PAT | 1894.82 | 919.2 | 106.14 | 8172.47 | -305.79 | LP | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 1894.82 | 919.2 | 106.14 | 8172.47 | -305.79 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1894.82 | 919.2 | 106.14 | 8172.47 | -305.79 | LP | | EPS (Rs)* | 49.09 | 23.81 | 106.14 | 211.73 | -7.92 | LP | | | * EPS is on current equity of Rs 385.98 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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