Skip to main content

IndiGo Q2 loss widens to Rs 1,194.8 crore on YoY basis, but beats estimates

EBITDAR came at 408.5 crore, up 59.3 percent YoY from Rs 256.4 crore. CNBC-TV18 poll's estimate for EBITDAR was Rs 511 crore loss.

Airline company InterGlobe Aviation (IndiGo) on October 29 said its loss widened to Rs 1,194.8 crore in Q2 FY21, higher than the loss of Rs 1,062 crore posted in the corresponding quarter of the previous financial year.

However, the number was better-than-expected as a CNBC-TV18 poll had estimated the loss to the tune of Rs 1,897 crore. It helped that the company's total expenses fell 55.9 percent YoY to Rs 4,224.1 crore in Q2FY21 from Rs 9,571.6 crore in Q2FY20.

The company's revenue for the said quarter came at Rs 2,741 crore against Rs 8,105.2 crore. This, too, was above the CNBC-TV18 poll of Rs 2,678 crore.

EBITDAR, or earnings before interest, tax, depreciation, amortisation and rent, came at 408.5 crore, up 59.3 percent YoY from Rs 256.4 crore. CNBC-TV18 poll's estimate for EBITDAR was Rs 511 crore loss.





EBITDAR margin stood at 14.9 percent, up 11.7 pts YoY from 3.2 percent in Q2FY20. Load factor for the quarter stood at 65.1 percent, down 18.5 pts YoY from 83.5 percent.

Total debt increased 28.1 percent YoY to Rs 25,419.4 crore. It had a total cash balance of Rs 17,931 crore, a slight reduction from Rs 18,449.8 crore in the first quarter.

"We are pleased that we are slowly but surely stair-stepping our way back to normal capacity," CEO Ronojoy Dutta said. "While we are very much focused on managing the crisis of the present, we are also reimagining the promise of the future. Once we are back at to  100 percent capacity, we will have lower unit costs, a stronger product, a more efficient fleet and a robust network. We are impatient for the arrival of the future," he added.

The showing in the second quarter was a marked improvement from the first, where it reported a net loss of Rs 2,844.3 crore for the quarter ended June 2020 as coronavirus-led lockdown impacted operations.

Domestic flights had resumed in May, and since then the cap on capacity utilisation has been raised to 60 percent. A report by CAPA India, released on Thursday, said that capacity utilisation on an average stood at 35 percent on average, as on September 30.

Sharing its outlook for the third quarter, IndiGo said, "Third quarter fiscal 2021 capacity in ASKs is expected to be around 60 percent of third quarter fiscal 2020 capacity."

The airline's fleet increased to 282 aircraft, as compared to 274 in the first quarter. The increase came in the form of additional Airbus A320neo, which increased to 116, from 108. At the same time, the budget carrier reduced the older generation A320Ceo from 123 ,to 117.


Comments

Post a Comment

Popular posts from this blog

Ashoka Buildcon share price up 4% on bagging 2 NHAI projects

The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Ashoka Buildcon share price added over 4 percent in early trade on September 8 after the company emerged as the lowest bidder (L-1) for the two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore. The company had submitted bids to National Highway Authority of India (NHAI) for the project of four laning of Arra h to Pararia section of NH-319(Old NH-30) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I) and Four laning of Pararia to Mohania section of NH-319(Old NH-30) in Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II). At 09:23 hrs Ashoka Buildcon was quoting at Rs 70.60, up Rs 2.40, or 3.52 percent on the BSE. The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Currently, it is trading 44.8 percen...
Post a Comment
Read more

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

  The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...
Post a Comment
Read more

Housing finance companies rally 2-8% after rationalisation of risk weights on housing loans

Housing finance major HDFC gained 2.5 percent on October 9. The stocks has already rallied 9 percent in last few days Share price of housing finance companies gained 2-8 percent intraday on October 9 after the Reserve Bank of India rationalised the risk weights on housing loans. LIC Housing Finance was the biggest gainer with 8 percent gains, followed by GIC Housing Finance 3 percent. Indiabulls Housing Finance and Can Fin Homes gained 2 percent each. Housing finance major HDFC gained 2.5 percent on October 9. The stocks has already rallied 9 percent in last few days. "Under the extant regulations, differential risk weights are applicable to individual housing loans, based on the size of the loan as well as the loan-to-value ratio (LTV)," RBI governor Shaktikanta Das said in its policy statement. "In recognition of the role of the real estate sector in generating employment and economic activity, it has been decided to rationalise t...
Post a Comment
Read more