Interglobe Aviation Ltd's Q3FY19 standalone net profit declines 74.95% yoy to Rs190.89cr

The company’s standalone revenue in the quarter stood at Rs7,916.20cr, up 28.14% yoy and 27.98% qoq.

January 23, 2019 4:17 IST | India Infoline Research Team

Interglobe Aviation Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
Revenue 7,916.20 28.1
EBITDA 219.25 [77.9]
EBITDA Margin (%) 2.8 -
Net Profit (adjusted) 190.89 [75.0]
***EBITDA margin change is bps
Interglobe Aviation Ltd posted a healthy set of numbers for the quarter ending December 31, 2018. The company's revenue increased 28% yoy to Rs7,916.2cr, in-line with the consensus estimates. EBITDA, however, slumped 79% to Rs219.2cr due to higher fuel costs (up 69% yoy), missing the street estimates by a whopping 61%. EBITDA before leases & rentals declined 16% yoy to Rs1,681.4cr for the quarter under consideration. Net profit for the quarter dropped 75% yoy to Rs190.9cr, beating the street estimates by 20%.
  • Higher fuel cost, a weaker rupee, and intense competition in the industry dragged the bottom-line on a yoy basis.
  • Passenger yields increased 3.7% yoy to Rs3.83/km; however, revenue per available seat kilometer (RASK) declined 3% yoy to Rs3.7 during the quarter.
  • Passenger revenue for the quarter increased 33% yoy to Rs7,065.9cr, while ancillary revenues grew 15% yoy to Rs805.1cr.
  • Interglobe inducted 19 aircrafts during the quarter and added 6 new international and 1 domestic destination for the same quarter.
  • The company continues to enjoy a strong balance sheet with total cash of Rs14,136.1cr including free cash of Rs4,618.3cr.
  • Total debt at the close of Q3FY19 stood at Rs2,475.9cr.

Technical View:

Interglobe Aviation Ltd share price ended at Rs1,110.40, down 7.5 points, or 0.67%, from its previous close of Rs1,117.90 on the BSE. The scrip opened at Rs1,122 and touched a high and low of Rs1,125.45 and Rs1,096, respectively. A total of 16,96,281 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200-DMA.

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