Interglobe Aviation Q4 Results Review - Capacity, Passenger Growth Targets Remain Intact: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Interglobe Aviation Ltd. reported Ebitda growth of 45% YoY to Rs 39.8 billion in Q4 FY24, while profit after tax more than doubled to Rs 18.9 billion (versus our estimate of Rs 23.7 billion). Revenue passenger kilometers at 30 billion. Passenger load factor was 86.2% with available seat kilometers of 34.8 billion (estiamte: 33.9 billion) and yield at Rs 5.2 (versus estimate of Rs 4.9, +7% YoY) in Q4. Currently, IndiGo’s 70-80 aircraft are grounded due to P&W engine issues and the management believes this number would be range-bound. However, the management is confident of adding one aircraft per week on an average in FY25, with capacity and passenger growth guidance intact in the mid-teens for FY25. ASK is expected to grow 10-12% YoY in Q1 FY25. According to our airfare tracker, the 30-day domestic forward prices for IndiGo are up by 1% QoQ at Rs 6,438 and the 15-day prices are up by 4% QoQ at Rs 7,123 in Q1 FY25 till date. The management highlighted that RASK in Q1 FY25 till date is similar to Q4 FY24. The management also announced a tailor-made business product aimed at redefining premium travel in India, details of which would be disclosed in August 2024..Click on the attachment to read the full report:.IndiGo Q4 Results: Profit Surges More Than Twofold, Meets Estimates.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Interglobe Aviation Q4 Results Review - Capacity, Passenger Growth Targets Remain Intact: Motilal Oswal

We reiterate our Neutral rating on the stock with a target price of Rs 4,210, based on nine times FY26E EV/Ebitdar.

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Interglobe Aviation Q4 Results Review - Capacity, Passenger Growth Targets Remain Intact: Motilal Oswal

We reiterate our Neutral rating on the stock with a target price of Rs 4,210, based on nine times FY26E EV/Ebitdar.

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