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IndiGo Q1 profit zooms 43 times to Rs 1,203 crore on 44% YoY jump in revenue

CEO Ronojoy Dutta said that this was the highest-ever profit reported by the company.

ETMarkets.com|
Updated: Jul 19, 2019, 05.08 PM IST
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InterGlobe Aviation, parent of air carrier IndiGo, on Friday said profit after tax soared 43 times to Rs 1,203.10 crore in the June quarter compared with Rs 27.80 crore in the same quarter last year.

Analysts in an ET NOW poll were expecting a profit of Rs 743 crore.

Revenue from operations jumped 44.7 per cent to Rs 9,420.10 crore on a 30.3 per cent increase in capacity compared with the year-ago period.

CEO Ronojoy Dutta said that this was the highest-ever profit reported by the company.

“Strong passenger revenue along with a sharp improvement in cargo performance were key drivers to this improved profitability. We are particularly pleased with this quarter because it demonstrated our ability to grow rapidly while expanding our margin performance," he added.

For the quarter, passenger ticket revenue was Rs 8,445.10 crore, an increase of 46.4 per cent and ancillary revenue was Rs 902.60 crore, an increase of 32.2 per cent compared with the same period last year.

On issues raised by the Sebi and the Ministry of Corporate Affairs, InterGlobe Aviation said, “The company will be responding to concerned authorities within the prescribed timelines and believes that aforesaid matter does not impact the financial results of the company.”

The airline expects second quarter to see 28 per cent YoY increase in capacity. For the full year, it sees a 30 per cent increase in capacity.

As of June 30, the company had a total cash balance of Rs 17,337 crore comprising of Rs 7,697 crore of free cash and Rs 9,640 crore of restricted cash.

The total debt (including the capitalised lease liability) stood at Rs 18,430 crore.

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