On consolidated basis
Quarter ended September 2023
compared with Quarter ended September 2022.
Net sales (including other operating income) of Interglobe Aviation has
increased 19.57% to Rs 14943.88 crore.
Operating profit margin has jumped
from 0.22% to 14.72%, leading to 7,971.46% rise in operating profit to Rs
2,200.28 crore. Purchase of finished goods cost rose from 0.49% to
0.55%. Employee cost increased from 9.23% to 10.18%. Other
expenses fell from 90.06% to 74.55%. Power and Oil fuel cost fell
from 50.08% to 39.19%. Other direct service cost rose from 21.92%
to 22.04%.
Other income rose 57.61% to Rs
559.06 crore. PBIDT rose 622.42% to Rs 2759.34
crore. Provision for interest rose 40.36% to Rs 1021.27
crore. Loan funds rose to Rs 49,391.71 crore as of 30 September 2023
from Rs 40,945.16 crore as of 30 September 2022. Inventories rose to
Rs 588.69 crore as of 30 September 2023 from Rs 495.24 crore as of 30 September
2022. Sundry debtors were higher at Rs 764.15 crore as of 30
September 2023 compared to Rs 482.59 crore as of 30 September
2022. Cash and bank balance rose to Rs 15,748.87 crore as of 30
September 2023 from Rs 11,471.87 crore as of 30 September
2022. Investments rose to Rs 14,915.44 crore as of 30 September 2023
from Rs 8,187.77 crore as of 30 September 2022 .
PBDT stood at Rs 1,738.07 crore
compared to loss of Rs 345.63 crore. Provision for depreciation rose
25.15% to Rs 1548.97 crore. Fixed assets increased to Rs 31,970.87
crore as of 30 September 2023 from Rs 23,283.55 crore as of 30 September
2022. Intangible assets increased from Rs 25.04 crore to Rs 33.26
crore.
Profit before tax reported profit of
Rs 189.10 crore compared to loss of Rs 1,583.28 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
expense of Rs 0.17 crore, compared to Rs 0.05 crore. Effective tax
rate was 0.09% compared to negative 0.00%.
Minority interest was nil in both
the periods.
Equity capital increased from Rs
385.44 crore as of 30 September 2022 to Rs 385.79 crore as of 30 September
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 63.24% as of 30
September 2023 ,compared to 71.93% as of 30 September 2022 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Interglobe Aviation has
increased 24.75% to Rs 31626.93 crore.
Operating profit margin has jumped
from 2.47% to 22.69%, leading to 1,046.30% rise in operating profit to Rs
7,174.72 crore. Purchase of finished goods cost fell from 0.53% to
0.49%. Employee cost increased from 8.73% to 9.40%.
Other expenses fell from 88.28% to 67.43%. Power and
Oil fuel cost fell from 48.31% to 35.05%. Other direct service cost
rose from 21.86% to 22.56%.
Other income rose 100.09% to Rs
1036.88 crore. PBIDT rose 617.73% to Rs 8211.6
crore. Provision for interest rose 42.68% to Rs 1975.02
crore. Loan funds rose to Rs 49,391.71 crore as of 30 September 2023
from Rs 40,945.16 crore as of 30 September 2022. Inventories rose to
Rs 588.69 crore as of 30 September 2023 from Rs 495.24 crore as of 30 September
2022. Sundry debtors were higher at Rs 764.15 crore as of 30
September 2023 compared to Rs 482.59 crore as of 30 September 2022. Cash
and bank balance rose to Rs 15,748.87 crore as of 30 September 2023 from Rs
11,471.87 crore as of 30 September 2022. Investments rose to Rs
14,915.44 crore as of 30 September 2023 from Rs 8,187.77 crore as of 30
September 2022 .
PBDT stood at Rs 6,236.58 crore
compared to loss of Rs 240.08 crore. Provision for depreciation rose
22.82% to Rs 2956.75 crore. Fixed assets increased to Rs 31,970.87
crore as of 30 September 2023 from Rs 23,283.55 crore as of 30 September
2022. Intangible assets increased from Rs 25.04 crore to Rs 33.26
crore.
Profit before tax reported profit of
Rs 3,279.83 crore compared to loss of Rs 2,647.53 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
expense of Rs 0.3 crore, compared to Rs 0.07 crore. Effective tax rate
was 0.01% compared to negative 0.00%.
Minority interest was nil in both
the periods.
Equity capital increased from Rs
385.44 crore as of 30 September 2022 to Rs 385.79 crore as of 30 September
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 63.24% as of 30
September 2023 ,compared to 71.93% as of 30 September 2022 .
Cash flow from operating activities
increased to Rs 10,969.01 crore for YTD ended September 2023 from Rs 4,461.74
crore for YTD ended September 2022. Cash flow used in acquiring
fixed assets during the YTD ended September 2023 stood at Rs 399.61 crore,
compared to Rs 283.15 crore during the YTD ended September 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:
Q2FY2024
Capacity increased by 27.7% YoY .
Passengers increased by 33.4% to
26.3 million.
Yield declined by 12.4% to INR
4.44 and load factor improved by 4.1 points to 83.3%.
Reduction in fuel CASK by 26.7% to
INR 1.66.
CASK ex fuel decreased by 12.1%
primarily due to reduction in foreign exchange loss
Management Commentary:
Commenting
on the performance the Company`s CEO, Mr. Pieter Elbers said, “I am
pleased to report yet another profitable quarter despite the seasonal
fluctuations and external headwinds coming into play. With our clear strategy
and focus on execution, we have completed a full cycle and remained profitable
for the last four quarters. We continued to augment our network both
domestically and internationally as we added 10 new destinations in the past
few months, taking the total number of destinations to 115 as of today.
My deepest gratitude to all 6E
employees for their hard work, determination, and passion they bring to their roles
in serving our loyal IndiGo customers.”
| Interglobe Aviation : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 14,943.88 | 12,497.59 | 19.57 | 31,626.93 | 25,352.88 | 24.75 | 54,446.45 | 25,930.93 | 109.97 | | OPM (%) | 14.72 | 0.22 | 1,451 bps | 22.69 | 2.47 | 2,022 bps | 11.93 | 2.11 | 982 bps | | OP | 2,200.28 | 27.26 | 7,971.46 | 7,174.72 | 625.90 | 1,046.30 | 6,495.34 | 547.33 | 1,086.73 | | Other Inc. | 559.06 | 354.70 | 57.61 | 1,036.88 | 518.21 | 100.09 | 1,434.97 | 725.60 | 97.76 | | PBIDT | 2,759.34 | 381.96 | 622.42 | 8,211.60 | 1,144.11 | 617.73 | 7,930.31 | 1,272.93 | 523.00 | | Interest | 1,021.27 | 727.59 | 40.36 | 1,975.02 | 1,384.19 | 42.68 | 3,131.73 | 2,358.02 | 32.81 | | PBDT | 1,738.07 | -345.63 | LP | 6,236.58 | -240.08 | LP | 4,798.58 | -1,085.09 | LP | | Depreciation | 1548.97 | 1237.65 | 25.15 | 2956.75 | 2407.45 | 22.82 | 5102.97 | 5068.6 | 0.68 | | PBT | 189.10 | -1,583.28 | LP | 3279.83 | -2647.53 | LP | -304.39 | -6153.69 | 95.05 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 189.1 | -1583.28 | LP | 3279.83 | -2647.53 | LP | -304.39 | -6153.69 | 95.05 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 189.1 | -1583.28 | LP | 3279.83 | -2647.53 | LP | -304.39 | -6153.69 | 95.05 | | Taxation | 0.17 | 0.05 | 240.00 | 0.3 | 0.07 | 328.57 | 1.4 | 8.16 | -82.84 | | PAT | 188.93 | -1583.33 | LP | 3279.53 | -2647.6 | LP | -305.79 | -6161.85 | 95.04 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 188.93 | -1583.33 | LP | 3279.53 | -2647.6 | LP | -305.79 | -6161.85 | 95.04 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 188.93 | -1583.33 | LP | 3279.53 | -2647.6 | LP | -305.79 | -6161.85 | 95.04 | | EPS (Rs)* | 4.90 | -41.07 | LP | 85.06 | -68.67 | 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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