In This Article:
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Total Income: INR178 billion, an increase of 14.6% year-over-year.
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Net Loss: INR9.9 billion, compared to a net profit of INR1.9 billion in the same period last year.
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Net Profit Margin: Negative 5.8%, compared to a positive 1% last year.
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Capacity Growth: Increased by around 8%.
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Passenger Unit Revenue (RASK): INR3.76, up 2% from INR3.70 in Q2 FY24.
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Yields: INR4.55, an improvement of INR2.3 year-over-year.
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Load Factor: Approximately 83%.
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Fuel CASK: Increased by around 4% due to fleet mix changes and increased VAT.
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CASK ex Fuel, ex ForEx: INR2.9, 23% higher year-over-year.
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Fleet Size: Total of 410 aircraft, with 31 aircraft inducted during the quarter.
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Free Cash: INR243.6 billion.
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Restricted Cash: INR150 billion.
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Total Debt: INR592 billion, including capitalized operating lease liability.
Release Date: October 25, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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InterGlobe Aviation Ltd (BOM:539448) reported a total income of INR178 billion, marking a 14.6% increase compared to the same period last year.
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The company has launched a new loyalty program, BluChip, which has already seen positive traction with a significant number of customers signing up.
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InterGlobe Aviation Ltd (BOM:539448) is expanding its international reach, with new destinations such as Jaffna and Mauritius added during the quarter.
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The company has revamped its website and app to enhance customer experience, offering a more user-friendly and interactive design.
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InterGlobe Aviation Ltd (BOM:539448) has partnered with aviation academies to support its growth plans and nurture the next generation of pilots, increasing its training capacity by 60%.
Negative Points
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The company reported a net loss of INR10 billion, compared to a profit of INR1.9 billion in the same period last year, primarily due to aircraft groundings and rising fuel costs.
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InterGlobe Aviation Ltd (BOM:539448) faced headwinds from aircraft groundings, with numbers peaking in the mid-70s, impacting financial performance.
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Increased fuel costs, driven by higher VAT in some states and oil marketing company charges, negatively impacted the company's financials.
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The company is experiencing competitive intensity in international markets, which could affect its market share and profitability.
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Operational challenges, such as a major system outage in October, affected bookings and operations, highlighting potential vulnerabilities in their IT infrastructure.
Q & A Highlights
Q: Could you provide a breakdown of the 23% increase in CASK ex fuel, ex ForEx, and clarify if inflationary pressures are already built into Q2 CASK? A: The increase is driven by AOG-related costs, mitigation measures, and inflation across various line items. While some inflation is built into Q2 CASK, further revisions may occur as airports undergo control period shifts. (Gaurav Negi, CFO)