Interglobe Aviation

On consolidated basis

Quarter ended December 2024 compared with Quarter ended December 2023.

Net sales (including other operating income) of Interglobe Aviation has increased 13.67% to Rs 22110.7 crore.  

Operating profit margin has declined from 26.47% to 23.42%, leading to 0.57% rise in operating profit to Rs 5,178.60 crore.  Purchase of finished goods cost rose from 0.49% to 0.50%.   Employee cost decreased from 8.70% to 8.68%.   Other expenses rose from 64.33% to 67.40%.   Power and Oil fuel cost fell from 35.17% to 29.05%.   Other direct service cost rose from 21.42% to 23.22%.   

Other income rose 44.58% to Rs 882.1 crore.  PBIDT rose 5.23% to Rs 6060.7 crore.  Provision for interest rose 19.44% to Rs 1308.1 crore.  

PBDT rose 1.89% to Rs 4752.6 crore.  Provision for depreciation rose 33.61% to Rs 2225.5 crore.  

Profit before tax down 15.72% to Rs 2,527.10 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 78.3 crore, compared to Rs 0.39 crore.  Effective tax rate was 3.10% compared to 0.01%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 18.32% to Rs 2,448.80 crore.  

Promoters' stake was 49.27% as of 31 December 2024 ,compared to 63.13% as of 31 December 2023 .  

Year-to-date (YTD) results analysis.

Net sales (including other operating income) of Interglobe Aviation has increased 14.82% to Rs 58651 crore.  

Operating profit margin has declined from 24.13% to 20.41%, leading to 2.88% decline in operating profit to Rs 11,968.90 crore.  Purchase of finished goods cost fell from 0.49% to 0.47%.   Employee cost increased from 9.13% to 9.42%.   Other expenses rose from 66.25% to 69.70%.   Power and Oil fuel cost fell from 35.10% to 33.15%.   Other direct service cost rose from 22.12% to 24.79%.   

Other income rose 42.67% to Rs 2349.7 crore.  PBIDT rose 2.49% to Rs 14318.6 crore.  Provision for interest rose 20.70% to Rs 3705.8 crore.  

PBDT fell 2.64% to Rs 10612.8 crore.  Provision for depreciation rose 33.88% to Rs 6188.8 crore.  

Profit before tax down 29.54% to Rs 4,424.00 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 233.1 crore, compared to Rs 0.69 crore.  Effective tax rate was 5.27% compared to 0.01%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 33.24% to Rs 4,190.90 crore.  

Promoters' stake was 49.27% as of 31 December 2024 ,compared to 63.13% as of 31 December 2023 .  

Full year results analysis.

Net sales (including other operating income) of Interglobe Aviation has increased 26.55% to Rs 68904.3 crore.  

Operating profit margin has jumped from 11.93% to 23.68%, leading to 151.22% rise in operating profit to Rs 16,317.50 crore.  Purchase of finished goods cost fell from 0.53% to 0.49%.   Employee cost increased from 8.81% to 9.38%.   Other expenses fell from 78.74% to 66.45%.   Power and Oil fuel cost fell from 43.43% to 34.70%.   Other direct service cost rose from 22.07% to 22.69%.   

Other income rose 62.16% to Rs 2326.9 crore.  PBIDT rose 135.10% to Rs 18644.4 crore.  Provision for interest rose 33.13% to Rs 4169.4 crore.  Loan funds rose to Rs 51,280.02 crore as of 31 March 2024 from Rs 44,854.21 crore as of 31 March 2023.  Inventories rose to Rs 624.80 crore as of 31 March 2024 from Rs 591.07 crore as of 31 March 2023.  Sundry debtors were higher at Rs 642.52 crore as of 31 March 2024 compared to Rs 519.90 crore as of 31 March 2023.  Cash and bank balance rose to Rs 16,720.61 crore as of 31 March 2024 from Rs 11,839.69 crore as of 31 March 2023.  Investments rose to Rs 16,545.96 crore as of 31 March 2024 from Rs 11,558.10 crore as of 31 March 2023 .  

PBDT rose 201.65% to Rs 14475 crore.  Provision for depreciation rose 25.92% to Rs 6425.7 crore.  Fixed assets increased to Rs 36,105.36 crore as of 31 March 2024 from Rs 27,647.66 crore as of 31 March 2023.  Intangible assets increased from Rs 31.54 crore to Rs 49.67 crore.  

Profit before tax reported profit of Rs 8,049.30 crore compared to loss of Rs 304.39 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was credit of Rs 123.2 crore, compared to debit of Rs 1.4 crore.  Effective tax rate was negative 1.53% compared to negative 0.46%.

Minority interest was nil in both the periods.  

Equity capital increased from Rs 385.55 crore as of 31 March 2023 to Rs 385.98 crore as of 31 March 2024.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 57.29% as of 31 March 2024 ,compared to 67.86% as of 31 March 2023 .  

Cash flow from operating activities increased to Rs 21,217.58 crore for year ended March 2024 from Rs 12,727.94 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 1,102.65 crore, compared to Rs 569.80 crore during the year ended March 2023.  

 

 

Operational highlights:

Q3FY2025

Capacity increased by 12.0% YoY to 40.8 billion .

Passengers increased by 12.7%  to 31.1 million.

Unit passenger revenue (PRASK) up by 0.3% to INR 4.72

CASK has increased by 6.8% to INR 4.83 (CASK ex fuel ex fx increased by 10.1% to INR 2.90)

Management Commentary:

Commenting on the performance the Company`s CEO, Mr. Pieter Elbers said, 'We delivered a strong third quarter of financial year 2025, both operationally and financially. We reported a total income of INR 230 billion, reflecting a growth of 15 percent and profit excluding the impact of currency movement of INR 38.5 billion. Including currency impact, we reported a profit of INR 24.5 billion highlighting effective execution of our clear and well-defined strategy. These results were driven by robust demand in the market and our ability to cater to that demand supported by lower fuel prices.

We touched new milestones as we operated a peak of 2,200 daily flights and served a record 31.1 million passengers during the quarter. We will continue the growth path to offer our customers with options to conveniently fly to the destination of their choice.

Interglobe Aviation : Consolidated Results

Quarter ended Year to Date Year ended Particulars 202412 202312 Var.(%) 202412 202312 Var.(%) 202403 202303 Var.(%) Net Sales (including other operating income) 22,110.70 19,452.15 13.67 58,651.00 51,079.08 14.82 68,904.30 54,446.45 26.55 OPM (%) 23.42 26.47 -305 bps 20.41 24.13 -372 bps 23.68 11.93 1,175 bps OP 5,178.60 5,149.34 0.57 11,968.90 12,324.07 -2.88 16,317.50 6,495.34 151.22 Other Inc. 882.10 610.10 44.58 2,349.70 1,646.98 42.67 2,326.90 1,434.97 62.16 PBIDT 6,060.70 5,759.44 5.23 14,318.60 13,971.05 2.49 18,644.40 7,930.31 135.10 Interest 1,308.10 1,095.21 19.44 3,705.80 3,070.23 20.70 4,169.40 3,131.73 33.13 PBDT 4,752.60 4,664.23 1.89 10,612.80 10,900.82 -2.64 14,475.00 4,798.58 201.65 Depreciation 2225.5 1665.72 33.61 6188.8 4622.48 33.88 6425.7 5102.97 25.92 PBT 2,527.10 2,998.51 -15.72 4424 6278.34 -29.54 8049.3 -304.39 LP Share of Profit/(Loss) from Associates 0 0 - 0 0 - 0 0 - PBT before EO 2527.1 2998.51 -15.72 4424 6278.34 -29.54 8049.3 -304.39 LP EO Income 0 0 - 0 0 - 0 0 - PBT after EO 2527.1 2998.51 -15.72 4424 6278.34 -29.54 8049.3 -304.39 LP Taxation 78.3 0.39 19,976.90 233.1 0.69 33,682.60 -123.2 1.4 LP PAT 2448.8 2998.12 -18.32 4190.9 6277.65 -33.24 8172.5 -305.79 LP Minority Interest (MI) 0 0 - 0 0 - 0 0 - Net profit 2448.8 2998.12 -18.32 4190.9 6277.65 -33.24 8172.5 -305.79 LP P/(L) from discontinued operations net of tax 0 0 - 0 0 - 0 0 - Net profit after discontinued operations 2448.8 2998.12 -18.32 4190.9 6277.65 -33.24 8172.5 -305.79 LP EPS (Rs)* 63.37 77.59 -18.32 108.46 162.46 -33.24 211.50 -7.91 LP * EPS is on current equity of Rs 386.41 crore, Face value of Rs 10, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database