On consolidated basis
Quarter ended September
2022 compared with Quarter ended September 2021.
Net sales (including other operating income) of Interglobe Aviation has
increased 122.83% to Rs 12497.59 crore.
Operating profit margin
has declined from 3.41% to 0.22%, leading to 85.73% decline in operating profit
to Rs 27.26 crore. Purchase of finished goods cost rose from 0.29%
to 0.49%. Employee cost decreased from 14.31% to 9.23%.
Other expenses rose from 81.99% to 90.06%. Power and
Oil fuel cost rose from 35.48% to 50.08%. Other direct service cost
fell from 36.49% to 21.92%.
Other income rose 86.45%
to Rs 354.7 crore. PBIDT rose 0.19% to Rs 381.96 crore. Provision
for interest rose 27.91% to Rs 727.59 crore. Loan funds rose to Rs
40,945.16 crore as of 30 September 2022 from Rs 32,335.28 crore as of 30
September 2021. Inventories rose to Rs 495.24 crore as of 30 September
2022 from Rs 391.24 crore as of 30 September 2021. Sundry debtors
were higher at Rs 482.59 crore as of 30 September 2022 compared to Rs 274.24
crore as of 30 September 2021. Cash and bank balance rose to Rs
11,471.87 crore as of 30 September 2022 from Rs 10,200.94 crore as of 30 September
2021. Investments rose to Rs 8,187.77 crore as of 30 September 2022
from Rs 6,351.68 crore as of 30 September 2021 .
PBDT stood at Rs 345.63
crore compared to profit of Rs 105.56 crore. Provision for
depreciation fell 0.83% to Rs 1237.65 crore. Fixed assets increased
to Rs 23,283.55 crore as of 30 September 2022 from Rs 19,319.88 crore as of 30
September 2021. Intangible assets declined from Rs 30.42 crore to Rs
25.04 crore.
Profit before tax down
10.28% to Rs -1,583.28 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 decreased 10.29% to Rs -1,583.33 crore.
Equity capital increased
from Rs 385.15 crore as of 30 September 2021 to Rs 385.44 crore as of 30
September 2022. Per share face Value remained same at Rs
10.00.
Promoters’ stake was
71.93% as of 30 September 2022 ,compared to 74.79% as of 30 September 2021
.
Year-to-date (YTD)
results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 194.27% to Rs 25352.88 crore.
Operating profit margin
(OPM) has turned from negative 14.78% to positive 2.47%, Operating profit for
the quarter stood at Rs 625.90 crore compared to loss of Rs 1,273.77
crore. Purchase of finished goods cost rose from 0.28% to 0.53%.
Employee cost decreased from 19.50% to 8.73%. Other
expenses fell from 95.02% to 88.28%. Power and Oil fuel cost rose
from 37.21% to 48.31%. Other direct service cost fell from 54.51%
to 21.86%.
Other income rose 46.57%
to Rs 518.21 crore. PBIDT stood at Rs 1,144.11 crore compared to
loss of Rs 920.2 crore. Provision for interest rose 23.11% to Rs
1384.19 crore. Loan funds rose to Rs 40,945.16 crore as of 30
September 2022 from Rs 32,335.28 crore as of 30 September
2021. Inventories rose to Rs 495.24 crore as of 30 September 2022
from Rs 391.24 crore as of 30 September 2021. Sundry debtors were
higher at Rs 482.59 crore as of 30 September 2022 compared to Rs 274.24 crore
as of 30 September 2021. Cash and bank balance rose to Rs 11,471.87
crore as of 30 September 2022 from Rs 10,200.94 crore as of 30 September
2021. Investments rose to Rs 8,187.77 crore as of 30 September 2022 from
Rs 6,351.68 crore as of 30 September 2021 .
PBDT rose 88.26% to Rs
240.08 crore. Provision for depreciation fell 6.15% to Rs 2407.45
crore. Fixed assets increased to Rs 23,283.55 crore as of 30
September 2022 from Rs 19,319.88 crore as of 30 September
2021. Intangible assets declined from Rs 30.42 crore to Rs 25.04
crore.
Loss before tax has
fallen 42.57% to Rs -2,647.53 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 42.57% to Rs -2,647.60 crore.
Equity capital increased
from Rs 385.15 crore as of 30 September 2021 to Rs 385.44 crore as of 30
September 2022. Per share face Value remained same at Rs
10.00.
Promoters’ stake was
71.93% as of 30 September 2022 ,compared to 74.79% as of 30 September 2021
.
Cash flow from operating
activities has turned positive Rs 4,461.74 crore for YTD ended September 2022
from negative Rs 919.87 crore for YTD ended September 2021. Cash
flow used in acquiring fixed assets during the YTD ended September 2022 stood
at Rs 283.15 crore, compared to Rs 122.66 crore during the YTD ended September
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, "This is the second consecutive
quarter wherein we have operated at higher than pre-covid capacity. In spite of
a seasonally weak quarter, we witnessed relatively good yields with strong
demand across the network. However, fuel prices and exchange rates have
adversely impacted our financial performance.
We are on a steady path to recovery, benefiting from enormous
opportunity both in domestic and international markets. With an industry
challenged by global supply chain disruptions, we are working on various
counter measures to accommodate this strong demand. We have an unparalleled
network presence enabling air travel to 74 domestic and 26 International
destinations, we will continue to accelerate and build on this." | Interglobe Aviation : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 12,497.59 | 5,608.50 | 122.83 | 25,352.88 | 8,615.41 | 194.27 | 25,930.93 | 14,640.63 | 77.12 | | OPM (%) | 0.22 | 3.41 | -319 bps | 2.47 | -14.78 | 1,725 bps | 2.11 | -0.09 | 220 bps | | OP | 27.26 | 190.99 | -85.73 | 625.90 | -1,273.77 | LP | 547.33 | -13.60 | LP | | Other Inc. | 354.70 | 190.24 | 86.45 | 518.21 | 353.57 | 46.57 | 725.60 | 1,036.96 | -30.03 | | PBIDT | 381.96 | 381.23 | 0.19 | 1,144.11 | -920.20 | LP | 1,272.93 | 1,023.36 | 24.39 | | Interest | 727.59 | 568.82 | 27.91 | 1,384.19 | 1,124.31 | 23.11 | 2,358.02 | 2,141.98 | 10.09 | | PBDT | -345.63 | -187.59 | -84.25 | -240.08 | -2,044.51 | 88.26 | -1,085.09 | -1,118.62 | 3.00 | | Depreciation | 1237.65 | 1248.07 | -0.83 | 2407.45 | 2565.33 | -6.15 | 5068.6 | 4699.45 | 7.86 | | PBT | -1,583.28 | -1,435.66 | -10.28 | -2647.53 | -4609.84 | 42.57 | -6153.69 | -5818.07 | -5.77 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | -1583.28 | -1435.66 | -10.28 | -2647.53 | -4609.84 | 42.57 | -6153.69 | -5818.07 | -5.77 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | -1583.28 | -1435.66 | -10.28 | -2647.53 | -4609.84 | 42.57 | -6153.69 | -5818.07 | -5.77 | | Taxation | 0.05 | 0 | - | 0.07 | 0 | - | 8.16 | -11.64 | PL | | PAT | -1583.33 | -1435.66 | -10.29 | -2647.6 | -4609.84 | 42.57 | -6161.85 | -5806.43 | -6.12 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | -1583.33 | -1435.66 | -10.29 | -2647.6 | -4609.84 | 42.57 | -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 | -1583.33 | -1435.66 | -10.29 | -2647.6 | -4609.84 | 42.57 | -6161.85 | -5806.43 | -6.12 | | EPS (Rs)* | -41.08 | -37.25 | -10.29 | -68.69 | -119.60 | 42.57 | -159.87 | -150.65 | -6.12 | | | * EPS is on current equity of Rs 385.43 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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