InterGlobe Aviation Q2 Results: Reports Surprise Profit Of Rs 189 Crore
The operator of India's largest airline's consolidated net profit stood at Rs 189 crore in the September quarter.
InterGlobe Aviation Ltd., the parent company of IndiGo, reported a profit for the fourth consecutive quarter, even as analysts had forecast a loss.
The operator of India's largest airline's consolidated net profit stood at Rs 189 crore in the September quarter, as compared with a net loss of Rs 1,583 crore over the same period last year, according to an exchange filing on Friday. A consensus estimate of analysts tracked by Bloomberg projected a net loss of Rs 316 crore.
The low-cost carrier incurred a foreign exchange loss of Rs 617 crore in the quarter. Excluding these losses, the net profit aggregated to Rs 806 crore in the quarter.
In the last year's September quarter, the company incurred a foreign exchange loss of over Rs 1,201 crore.
InterGlobe Aviation Q2 FY24 Highlights (YoY)
Revenue rose 19.6% to Rs 14,944 crore (Bloomber estimate: Rs 14,885 crore).
Ebitdar grew to Rs 2,396 crore versus Rs 75.5 crore.
Ebitdar margin at 16% versus 1%.
The airline carried 2.63 crore passengers in the period, a jump of 33% over the same period last year. IndiGo's carrying capacity improved by nearly 28% in the quarter.
IndiGo’s yield, a measure of profitability per seat, fell 12.4% year-on-year to Rs 4.44 per km.
“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," Pieter Elbers, the company's CEO, said in a statement.
The fuel cost, which makes up for nearly 40% of the airlines' operational cost, fell 6.4% to Rs 5,856 crore.
Shares of IndiGo’s parent company ended 0.58% higher before the results were announced, compared with a 0.51% rise in the benchmark Nifty 50.
