Conference Call with InterGlobe Aviation Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Airlines company InterGlobe Aviation announced Q1FY24 results: Capacity increased by 18.8% to 32.7 billion. Passenger numbers increased by 30.1% to 26.2 million. Yield declined by 1.2% to Rs 5.18 and load factor improved by 9.0 pts to 88.6%. Revenue from operations increased by 29.8% to Rs 1,66,831 million. Average fuel prices decreased by 22.5% leading to a decrease in fuel CASK by 26.6% to Rs 1.60 CASK ex-fuel decreased by 11.4% to Rs 2.57 due to higher capacity. EBITDAR of Rs 52,109 million (31.2% EBITDAR margin), compared to EBITDAR of Rs 7,169 million (5.6% EBITDAR margin). Profit excluding foreign exchange of Rs 29,745 million compared to profit excluding foreign exchange of Rs 3,603 million. Net profit of Rs 30,906 million, compared to a net loss of Rs 10,643 million. Pieter Elbers, CEO, said, “I am pleased to report a solid start to the year building on the positive momentum from the last two quarters. We produced strong operational performance and welcomed the highest number of quarterly passengers which enabled us to generate the highest ever quarterly revenue and net profit for the quarter ended June 2023. During this quarter, we placed a new order for 500 aircraft that takes our outstanding order book to c.1,000 aircraft and further strengthens our position for future growth. My deepest gratitude to all our loyal customers and dedicated 6E stars for the progress we have made towards our (new) growth strategy - towards new heights and across new frontiers.” Result PDF