InterGlobe Aviation shares tank 20 per cent on weak Q4 results

03 May, 2018, 20:40 | Author: Eric Barnett
  • Indigo's President flies off after ten years

RIL has posted a net profit of Rs 9,459 crore for the quarter ended March 31, 2018, a growth of 17.5 per cent over same period in the a year ago.

Interglobe Aviation's EBITDAR declined 21.9% to Rs 1132.10 crore in the January - March 2018 quarter, compared to year-ago period.

For the year ended March 2018, the company's total comprehensive income jumped to Rs 2,242.58 crore from Rs 1,656.98 crore in 2016-17. It was Rs 5,141.99 crore in the year-ago period, according to a regulatory filing. This was primarily driven by rise in fuel cost, forex losses (booked a loss of Rs 925 million compared to a gain of Rs2.5 billion in the same quarter last year) and fall in passenger yields.

"Based on our cash position - the cash required to purchase aircraft and the overall profitability for the year - the board of directors has recommended a dividend of Rs 6 per share for fiscal 2018, which is subject to approval of shareholders in our upcoming annual general meeting", Philip said. For fiscal 18, the company's profit and revenue were Rs 2,242 crore and Rs 23,020 crore, registering a growth of 35.1 percent and 23.9 percent, respectively.

IndiGo is actively studying the choice of having wide-bodied aircraft and continues to look at opportunities for long-haul flights without Air India, the airline's interim CEO Rahul Bhatia said today. Further, the airline had to ground some of its aircraft due to engine issues, thereby leading to a significant number of flight cancellations.

The airline had 159 planes at the end of March 2018.

For FY19, Indigo expects year over year capacity increase in ASKs at 25%.

"Please note the company hasn't received any communication from Sebi (Securities and Exchange Board of India) in this regard", it said, adding the firm has complied with all requirements of Sebi Regulations 2015, including listing obligations and disclosure requirements, in this regard.

"The key is to have the right cost structure in each market".

The company's stock price dropped almost 4 per cent to close at Rs 1,348.25 on BSE. The market regulator is also checking if the company disclosed the resignation news in time, and if there are any violations of insider trading rules.