The shares of InterGlobe Aviation that owns and operates IndiGo airlines fell on Thursday despite the strong quarterly performance with a record net profit that was higher than market estimates. The shares on the BSE were trading close 4.1 per cent lower at Rs 2,461.1, whereas on the NSE the stocks were down by 4.05 per cent at Rs 2,461.50.
Revenue and Cost Comparisons
Total income for the quarter ended June 2023 was Rs 171,609 million, an increase of 31.8 percent over the same period last year. For the quarter, passenger ticket revenues were Rs 149,956 million, an increase of 30.8 percent and ancillary revenues were Rs 15,484 million, an increase of 20.4 percent compared to the same period last year.
Total expenses for the quarter ended June 2023 were Rs 140,701 million, a decrease of 0.1 percent over the same quarter last year.
The net profit of Rs 30,906 million, compared to net loss of Rs 10,643 million. Profit excluding foreign exchange of Rs 29,745 million compared to profit excluding foreign exchange of Rs 3,603 million.
Cash and Debt
As of 30th June 2023, IndiGo had a total cash balance of Rs 274,000 million comprising Rs 156,911 million of free cash and Rs 117,090 million of restricted cash. The capitalized operating lease liability was Rs 430,862 million.
The total debt (including the capitalized operating lease liability) was INR 462,919 million.
Peiter Elbers, CEO of InterGlobe Aviation talking about the earnings said, “I am pleased to report a solid start to the year building on the positive momentum from the last two quarters. We produced strong operational performance and welcomed the highest number of quarterly passengers which enabled us to generate the highest ever quarterly revenue and net profit for the quarter ended June 2023. During this quarter, we placed a new order for 500 aircraft that takes our outstanding order book to c.1,000 aircraft and further strengthens our position for future growth."
