Moneycontrol Bureau
InterGlobe Aviation, parent of country's largest aviation firm IndiGo, today said its quarterly revenue rose 12 percent year-on-year to Rs 4,407.4 crore while net profit surged 23 percent to 653.7 crore.
The company's first quarterly earnings declaration since the company was listed recently were boosted by high passenger growth, falling fuel cost as well as improved load factor.
InterGlobe's earnings before interest, taxes, depreciation, amortization and rent (EBITDAR), a metric often used for aviation firms, rose 30 percent to Rs 1,673 crore while the EBITDAR margin rose from 33.3 percent to 38.9 percent.
The carrier's other income stood at Rs 109.7 crore, compared to Rs 81.4 crore.
Our business continues to perform well on the back of increase in fleet size, robust passenger demand and low fuel prices. Lower fuel prices enabled us to lower our fares to our customers further stimulating market demand and increasing the propensity of people to travel," the company's President and Whole-time Director said.
Indigo flew a total of 8.33 million passsengers during the quarter, a rise of 27.6 percent YoY, while load factor rose 3.4 percentage points to 84.6 percent.
As of December 31, InterGlobe said it had cash of Rs 5,746 crore while debt stood at Rs 3,930 crore.IndiGo's numbers were boosted by a fall in crude oil prices, Kapil Kaul, CEO - South Asia of CAPA told CNBC-TV18. He, however, added that there was some pressure on fares, something that he expects to continue in the current quarter.
For the full year, IndiGo could clock USD 300 million (or Rs 2040 crore) in net profit, thanks to a robust growth pipeline, Kaul said. He added that a key risk existed in the form of any delay in its 250-aircraft order with Airbus.
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