Revenue of the company jumped 29% from a year ago to Rs 8,020.75 crore versus Rs 6,222.95 crore logged in the same quarter last year.
InterGlobe Aviation
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InterGlobe Aviation share price rose 10 percent in early trade on May 26, a day after company announced its March quarter (Q4FY22) earnings.
InterGlobe Aviation, the operator of India’s largest airline IndiGo, on May 25 reported a consolidated net loss of Rs 1,681.80 crore for the quarter ended March 2022 (Q4FY22), due to a surge in aircraft fuel expenses.
The company had posted a net loss of Rs 1141.98 crore in the corresponding quarter of the previous fiscal.
Revenue of the company jumped 29 percent from a year ago to Rs 8,020.75 crore versus Rs 6,222.95 crore logged in the same quarter last year.
Its passenger ticket revenues came in at Rs 6,884.70 crore, up 38.4 percent, while ancillary revenues stood at Rs 1,058.30 crore, up 18.8 percent over the same period last fiscal.
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Here is what brokerages have to say about stock and the company post March quarter earnings
Credit Suisse
Research firm Credit Suisse has maintained outperform call on the stock and cut target price to Rs 2,200 from Rs 2,500 per share.
The strong yields & sustained traffic bode well, while lower supplementary rentals suggest lower maintenance costs.
Credit Suisse revises earnings by -39/-9 percent to Rs 18/101 from Rs 30/111 as build crude at USD 110 and at Rs 78 per dollar, reported CNBC-TV18.
JPMorgan
Broking house has upgraded the stock to overweight and raised the target to Rs 2,000 from Rs 1,825 per share.
The Q4 was a miss, but yield trend post omicron surprises positively.
JPMorgan raises FY23/24 EBITDA estimates by 20/10 percent, reported CNBC-TV18.
Also Read – IndiGo shares jump 10% as airline plans to hike fares with focus on profitability
Prabhudas Lilladher
IndiGo’s reported a disappointing EBITDAR of 1.3 percent, impacted by soaring fuel costs, higher forex losses and demand affected by Omicron wave. The company was able to maintain yields at Rs 4.4, alike QoQ. Load factors at 76.5 percent contracted 300bps QoQ impacted by lower RASK (-3 percent QoQ).
Despite demand recovery in April-May profitability will remain impacted in the next quarter, due to higher ATF prices and rupee depreciation. However, over medium to long term IndiGo remains optimistic on long term demand opportunities and is focused on (1) higher capacity deployment (management highlighted 50 percent-plus growth in FY23) as domestic demand improves and international travel comes back, (2) responsibly fortifying and widening of its domestic network (3) increasing cargo revenue and (4) softening of commodity costs.
Prabhudas Lilladher believe IndiGo will emerge stronger and continue to remain better placed than its peers with 55 percent market share driven by (1) demand recovery along with capacity deployment (2) superior balance sheet (Rs76bn free cash) (3) better than industry cost structure and (4) strong management. We reduce our EV/EBITDAR multiple to 8x (9x earlier) to factor in the inflationary cost environment. Maintain ‘HOLD’ with a Target Price of Rs 1,800.
At 9:17am, Interglobe Aviation was quoting at Rs 1,729.60, up Rs 84.55, or 5.14 percent on the BSE.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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