InterGlobe Aviation's consolidated net profit surged 167.86% to Rs 495.97 crore on a 25.45% jump in net sales to Rs 9,931.68 crore in Q3 December 2019 over Q3 December 2018.
Consolidated profit before tax soared 205.16% to Rs 556.63 crore in Q3 December 2019 over Rs 182.40 crore in Q3 December 2018. Consolidated tax expense for Q3 December 2019 stood at Rs 60.56 crore as compared to a tax credit of Rs 2.76 crore received in Q3 December 2018.
The Q3 result was announced after market hours on Monday, 27 January 2020. Shares of InterGlobe Aviation fell 0.54% to end at Rs 1,492.85 ahead of Q3 results Monday.
Consolidated Earnings before Interest, Tax, Depreciation and Amortization and Restructuring (EBITDAR) grew 17.20% to Rs 1,960.70 crore in Q3 December 2019 from Rs 1,672.90 in Q3 December 2018.
The budget airlines carrier's ASK (available seat kilometers) jumped 19.3% to Rs 2,580 crore in Q3 December 2019 as compared to Rs 2,160 crore in Q3 December 2018.
Year-over-year capacity increase in ASK is expected to be 20% for the fourth quarter and 23% for the full fiscal year. For fiscal year 2021, capacity increase in ASK is said to be around 20%.
The RPK (revenue passenger miles) soared 22.6% to Rs 2,260 crore in Q3 December 2019 as against Rs 1,840 crore in Q3 December 2018.
Aircraft fuel expenses fell 2% to Rs 3,341.90 crore in Q3 December 2019 over Rs 3,410.40 crore in Q3 December 2018.
Indigo's passenger ticket revenues jumped 24.1% to Rs 8,770.30 crore and ancillary revenues soared 28.8% to Rs 1,037.30 crore in Q3 December 2019 as against Q3 December 2018.
As of 31 December 2019, lndiGo had a total cash balance of Rs 20,068.70 crore, which include Rs 9,412 crore of free cash and Rs 10,656 crore of restricted cash. The total debt of the company stood at Rs 21,555.30 crore compared to Rs 2,475.90 crore in the year ago period, registering a YoY growth of 770.6%.
As of 31 December 2019, the InterGlobe Aviation had fleet of 257 aircraft, offering 1,634 peak daily flights during the quarter and connecting 61 domestic destinations and 23 international destinations.
Commenting on the Q3 performance, Ronojoy Dutta, the CEO of InterGlobe Aviation, said that, "We started operations in 7 new international routes and 17 new domestic routes and operated a peak of 1,634 daily departures during the quarter. I am very enthusiastic about the way we have been developing our network, connecting cities large and small to provide more choice to our customers.
We have added small cities such as Shirdi and Shillong to our network while extending our reach to major cities such as Hanoi and Guangzhou. While expanding we have also been paying a lot of attention to our customer service levels and for the quarter, our on time pe,formance was number one amongst the Indian carriers. We are really serious about our mission of building the best transportation network in the world for India, he added.
InterGlobe Aviation (Indigo) is among the fastest growing low cost carriers in the world.
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