Published on : Saturday, July 20, 2019
InterGlobe Aviation, the operator of low-cost airline IndiGo, reported the highest ever quarterly profit at 1,203 crore rupees in Q1FY20, 43 times higher than the profit in the year-ago period which stood at 27.8 crore rupees.
The company in its BSE filing said that the yield in June quarter increased by 12.8 per cent to Rs 4.08 rupees per kilometer. The revenue per available seat kilometre (RASK) grew by 10.7 percent to 4.10 rupees.
While the company said that it benefited from the suspension of services of Jet Airways, IndiGo downplayed the impact.
CEO Ronojoy Dutta said that it positively impacted their profits this quarter helping the unit revenues to grow by 2-3 per cent to the best of the estimates. However the Jet Airways’ absence will give no benefit in the coming quarters.
At operating level, earnings before interest, tax, depreciation, amortisation and aircraft & engine rentals (EBITDAR) in Q1 grew by 146 per cent to 2,779 crore rupees and margin expanded 1,210bps to 29.5 per cent compared to year-ago. This was despite 22 per cent increase in total expenses YoY. The fuel price per litre declined by 1.2 percent to Rs 66.20.
InterGlobe said total cash on its book of 17,337.1 crore rupees increased by 31.3 percent YoY while debt increased by 630.8 percent to Rs 18,430.9 crore rupees in Q1.