InterGlobe Aviation, the operator of low cost carrier IndiGo, reported a five-fold increase in its net profit in the March quarter, benefitting from the grounding of rival Jet Airways India Ltd during the period. The IndiGo stock jumped as much as 3.2% in early trade on Tuesday. Here are key takeaways from the Indigo fourth quarter (Q4) earnings:
— IndiGo, the country’s largest airline by market share, posted a 401.2% year-on-year growth in net profit at Rs 589.6 crore during the March quarter.
— IndiGo’s revenue during the quarter grew 35.9% year-on-year to Rs 7,883.3 crore.
— IndiGo flew 15.7 million domestic passengers during the March quarter compared to 13.4 million in the year-ago period.
— At operating level, IndiGo’s earnings before interest, tax, depreciation, amortisation and rent (Ebitdar) shot up 93.7% to Rs 2,192.6 crore during the March quarter.
— The airline’s Ebitda margin jumped 830 basis points to 27.8% compared with the year-ago period.
— IndiGo’s yield, which measures the average fare per passenger per kilometre, increased by 12% to Rs 3.70 per km in the March quarter against Rs 3.31 per km a year ago.
— Total expenses for the quarter jumped 28.9% year-on-year to Rs 7,643 crore. Of this, fuel cost stood at Rs 2,781.3 crore, up 19% year-on-year.
— For full fiscal 2018-19, profit fell 93% to Rs 156.1 crore, but revenue increased 23.8% to Rs 28,496.8 crore.
— InterGlobe said it has a strong balance sheet with total cash of Rs 15,308.1 crore, including free cash of Rs 6,079.6 crore. Total debt as of March 2019 was Rs 2,429.2 crore, the airline added.
— The company announced it will pay a dividend of Rs 5 per share.
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