Thursday, June 01, 2017

After Interglobe Aviation and Jet Airways, all eyes now on SpiceJet Q4 results

Share prices of aviation companies SpiceJet, Jet Airways and Indigo-owner Interglobe Aviation closed with gains on Wednesday despite the BSE Sensex ending flat. Jet Airways ended 4 percent higher at Rs 478, SpiceJet closed 4.24 percent up at Rs 106 and Interglobe Aviation rose 4.27 percent to end at Rs 1,106 on the Bombay Stock Exchange (BSE).
SpiceJet will be announcing its Q4 and FY2017 results on June 3.
The BSE Sensex closed 14 points lower at 31,145 ahead of Q4 GDP data due to be released today. Top losers were Infosys, Coal India and Sun Pharma while gainers include Mahindra and Lupin.
An update by ICICI Securities in April projected 60 percent sequential fall in SpiceJet's Q4 net profit to Rs 72 crore while estimating net sales at Rs 1,678 crore, a growth of 13.8 percent, YoY.
For the third quarter ended December 2016, SpiceJet's net profit declined 24 per cent to Rs 181 crore while income rose 12.5 percent to Rs 1,642 crore, YoY.
On Tuesday, full-service carrier Jet Airways reported 95 percent in its Q4 net profit to Rs. 23 crore as against Rs. 426 crore in the corresponding period last year and 3.5 percent rise in income to Rs. 5,728 crore from Rs. 5,533 crore.
Earlier, Interglobe Aviation had also reported weak Q4 numbers. Net profit fell 24.6 percent to Rs 440 crore in comparison to Rs 584 crore in the year-ago period while operating profit margin (EBIDTAR) dropped to 29.9 percent from 37.9 percent for March 2016 quarter.
31/05/17 S V Krishnamachari/IBTimes