On consolidated basis
Quarter ended June 2023 compared
with Quarter ended June 2022.
Net sales (including other operating income) of Interglobe Aviation has
increased 29.78% to Rs 16683.05 crore.
Operating profit margin has jumped
from 4.66% to 29.82%, leading to 730.94% rise in operating profit to Rs
4,974.43 crore. Purchase of finished goods cost fell from 0.56% to
0.43%. Employee cost increased from 8.23% to 8.69%. Other
expenses fell from 86.55% to 61.05%. Power and Oil fuel cost fell
from 46.59% to 31.34%. Other direct service cost rose from 21.79%
to 23.02%.
Other income rose 192.23% to Rs
477.82 crore. PBIDT rose 615.37% to Rs 5452.25
crore. Provision for interest rose 45.25% to Rs 953.74
crore.
PBDT rose 4,161.57% to Rs 4498.51
crore. Provision for depreciation rose 20.34% to Rs 1407.78
crore.
Profit before tax reported profit of
Rs 3,090.73 crore compared to loss of Rs 1,064.24 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
expense of Rs 0.13 crore, compared to Rs 0.02 crore. Effective tax
rate was 0.00% compared to negative 0.00%.
Minority interest was nil in both
the periods.
Promoters’ stake was 67.77% as of 30
June 2023 ,compared to 74.77% as of 30 June 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:
Q1FY2024
Capacity increased by 18.8% YoY to
32.7 billion.
Passenger numbers increased by 30.1%
YoY to 26.2 million.
Yield declined by 1.2% YoY to Rs
5.18 and load factor improved by 9 pts to 88.6%.
Average fuel prices decreased by 22.5
YoY leading to decrease in fuel CASK by 26.6% YoY to Rs 1.6.
CASK ex fuel decreased by 11.4% to
Rs 2.57 due to higher capacity.
Management Commentary:
Commenting
on the performance the Company`s CEO, Mr. Pieter Elbers said, “I am
pleased to report a solid start to the year building on the positive momentum
from the last two quarters. We produced strong operational performance and
welcomed the highest number of quarterly passengers which enabled us to
generate the highest ever quarterly revenue and net profit for the quarter ended
June 2023. During this quarter, we placed a new order for 500 aircraft that
takes our outstanding order book to c.1,000 aircraft and further strengthens
our position for future growth.
My deepest gratitude to all our
loyal customers and dedicated 6E stars for the progress we have made towards
our (new) growth strategy - towards new heights and across new frontiers.”
| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 16,683.05 | 12,855.29 | 29.78 | 54,446.45 | 25,930.93 | 109.97 | | OPM (%) | 29.82 | 4.66 | 2,516 bps | 11.93 | 2.11 | 982 bps | | OP | 4,974.43 | 598.65 | 730.94 | 6,495.34 | 547.33 | 1,086.73 | | Other Inc. | 477.82 | 163.51 | 192.23 | 1,434.97 | 725.60 | 97.76 | | PBIDT | 5,452.25 | 762.16 | 615.37 | 7,930.31 | 1,272.93 | 523.00 | | Interest | 953.74 | 656.60 | 45.25 | 3,131.73 | 2,358.02 | 32.81 | | PBDT | 4,498.51 | 105.56 | 4,161.57 | 4,798.58 | -1,085.09 | LP | | Depreciation | 1407.78 | 1169.8 | 20.34 | 5102.97 | 5068.6 | 0.68 | | PBT | 3,090.73 | -1,064.24 | LP | -304.39 | -6153.69 | 95.05 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 3090.73 | -1064.24 | LP | -304.39 | -6153.69 | 95.05 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 3090.73 | -1064.24 | LP | -304.39 | -6153.69 | 95.05 | | Taxation | 0.13 | 0.02 | 550.00 | 1.4 | 8.16 | -82.84 | | PAT | 3090.6 | -1064.26 | LP | -305.79 | -6161.85 | 95.04 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 3090.6 | -1064.26 | LP | -305.79 | -6161.85 | 95.04 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 3090.6 | -1064.26 | LP | -305.79 | -6161.85 | 95.04 | | EPS (Rs)* | 80.16 | -27.60 | 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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