Thursday, January 25, 2018

Indigo’s Q3FY18 net profit rises by 56% yoy; surpasses' estimates

Mumbai: Interglobe Aviation (Indigo) surpassed analysts estimate in both topline (revenue) and bottomline (profit) performance for the third quarter ended December 31, 2017 (Q3FY18).

Indigo posted net profit of Rs 762.03 crore in Q3FY18, witnessing a whopping 56.41% rise as compared to net profit of Rs 487.20 crore in the corresponding period of the previous year.

Q3FY18 net profit also increased by  38.16% from Rs 551.55 crore in the preceding quarter (Q2FY18).

Meantime, revenue from operations came in at Rs 6,177.88 crore in Q3, registering growth of 23.89% from Rs 4,986.49 crore in Q3FY17 and up by 16.76% as against Rs 5,290.98 crore of Q2FY18.

A Bloomberg poll of experts project Indigo’s revenue and net profit during Q3FY18, to be around Rs 660 crore and Rs 6,010 crore respectively.

Indigo said, “Profitability for the quarter was favourably impacted due to better revenue management as well as credits received from our manufacturers.”

While EBITDA (operating profit) stood at Rs 2,001.89 crore during Q3FY19, along with margin of 32.4%. During Q3FY17, Indigo’s EBITDA was at Rs 1,460.56 crore with margin of 29.3%.

This Q3, Indigo’s Available Seat Kilometer (ASK) was at 16.3 billion - up by 13% from 14.4 billion a year ago same period. While it’s Revenue Passenger Kilometers (RPK) was at 14.4 billion - which grew by 14.6% versus 12.6 billion similar period last year.

Indigo’s load increased by 1.2 points to 88.5% in Q3FY18 versus 87.3% of Q3FY17.
24/01/18 ZeeBiz