InterGlobe’s profit for the quarter declined to Rs 27.8 crore from Rs 811.1 crore in June quarter 2017.
InterGlobe Aviation, the operator of low cost carrier IndiGo, has reported a massive 96.6 percent fall in first quarter net profit, dented by higher fuel prices and adverse impact of forex.
Profit for the quarter declined to Rs 27.8 crore from Rs 811.1 crore in June quarter 2017.
“Profitability was majorly impacted by the adverse impact of foreign exchange, high fuel prices and the competitive fare environment,” the airline operator said in its filing.
Revenue from operations grew by 13.2 percent year-on-year to Rs 6,512 crore compared to Rs 5,752.9 crore in same period last fiscal.
Foreign exchange gain for the quarter stood at Rs 246 crore against forex loss of Rs 6.6 crore in year-ago.
EBITDAR (earnings before interest, tax, depreciation, amortisation and rent) plunged 42.4 percent year-on-year to Rs 1,130.1 crore and margin nearly halved to 17.3 percent from 34.1 percent.
Total expenses for the qumter ended June were Rs 6,787 crore, an increase of 40.5 percent over the same quarter last year, the company said.
CASK excluding fuel was Rs 2.17, an increase of 13.3 percent over the same quarter last year. “CASK excluding fuel was majorly impacted by the adverse movement in foreign exchange in the quarter,” IndiGo said, adding fuel cost increased 54.4 percent YoY.
The company had a total cash balance of Rs 13,205.6 crore comprising of Rs 6,104.9 crore of free cash and Rs 7,100.7 crore of restricted cash. It said total debt as on June was Rs 2,521.9 crore which is aircraft related. IndiGo does not have any working capital debt.
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