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.
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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