InterGlobe Aviation gains after stellar Q1 outcome

InterGlobe Aviation was up 0.87% to Rs 1,476.15 at 09:32 IST on BSE after consolidated net profit rose 4229.4% to Rs 1203.14 crore on 43.5% increase in total income to Rs 9786.94 crore in Q1 June 2019 over Q1 June 2018.

Jul 22, 2019 03:07 IST capital market

The result was announced after market hours on Friday, 19 July 2019.

Meanwhile, the S&P BSE Sensex was down by 289.09 points or 0.75% to 38,047.92.

On the BSE, 89,000 shares were traded in the counter so far compared with average daily volumes of 3.33 lakh shares in the past two weeks. The stock had hit a high of Rs 1,493.35 and a low of Rs 1,426.85 so far during the day. It hit a 52-week high of Rs 1,716 on 28 May 2019 and a 52-week low of Rs 697 on 9 October 2018.

Consolidated Earnings before Interest, Tax, Depreciation and Amortization and Restructuring (EBITDAR) grew 145.9% to Rs 2778.5 in Q1 June 2019 over Q1 June 2018. The EBITDAR margin rose to 29.5% in Q1 June 2019 from 17.4% in Q1 June 2018.

InterGlobe Aviation reported highest ever quarterly profit after tax in Q1 June 2019. The companys CEO, Ronojoy Dutta said strong passenger revenues along with a sharp improvement in cargo performance were key drivers to this improved profitability.

InterGlobe Aviation is amongst the fastest growing low cost carriers in the world. The company has fleet of 235 aircraft and provides service to 70 destinations including 17 international cities.

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