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Higher demand post second wave drives revenue growth of more than 100% | Interglobe Aviation Q2 FY22 Result & Earning Call Highlights

Higher demand post second wave drives revenue growth of more than 100% | Interglobe Aviation Q2 FY22 Result & Earning Call Highlights

Published on 02 November 2021 .Views 8 .Comments 0

Q2FY22 Results

  • Revenue from Operations of Rs 5609 cr for the quarter, an increase of 104.6% against Rs 2741 cr compared to same period last year.
  • EBITDA of Rs 157 cr against negative EBITDA Rs 308 cr for the same period last year.
  • Net loss stands at Rs 1436 crores against loss of Rs 1195 crores in Q2FY21. It had reported net loss of Rs 3174 in Q1FY22.
  • Basic earnings per share was negative Rs 37.29 for the quarter.
  • Strong liquidity position with a total cash of Rs 16553.9 including free cash of Rs 6351.6 cr.
  • For the quarter, passenger ticket revenues were Rs 4716.3 cr, an increase of 113.6% and ancillary revenues were Rs 817.7 cr, an increase of 61.4% compared to the same period last year.
  • The capitalized operating lease liability was Rs 27562 cr. The total debt (including the capitalized operating lease liability) was Rs 32335.3 cr.

Business Highlights

  • ASK (Available Seat Kilometres) stood at 15.8 billion, with load factor at 76%, resulting in RPK (Revenue Passenger Kilometres) of 11.2 billion.
  • RASK (Revenue per Available Seat Kilometres) stood at Rs 0.36 cr. CASK (Cost for Available Seat Kilometres) stood at Rs 0.45 cr, with CASK ex- fuel, at Rs 0.32 cr.
  • As of 30th September 2021, fleet comprised 279 aircraft including 72 A320 CEOs, 130 A320 NEOs, 44 A321 NEOs and 33 ATRs; a net increase of 2 aircraft during the quarter.
  • IndiGo operated a peak of 1,209 daily flights and a minimum of 759 flights during the quarter including non-scheduled flights.
  • Third quarter fiscal year 2022 capacity in terms of ASKs is expected to increase by around 40% as compared to the second quarter of fiscal year 2022 and around 45% as compared to the same quarter previous year.

Conference Call Highlights

  • Revenues booked per day in Oct21 are at pre-covid levels despite capacity being lower by 20%. Load factors at 76%.
  • Corporate travel recovered to 50% of pre-covid levels. Expect more corporates to travel post Diwali.
  • Daily Cash burn down 39% QoQ from Rs 334 mn to Rs 200 mn in Q2FY22. As the airline has benefited from improved demand post the unlock. The company is confident of improving on this QoQ.
  • Cargo revenues grew by 16% QoQ.
  • International/ Domestic capacity deployment at 85-90% of pre-covid capacity.
  • Yields have improved across segments (Domestic/International/Cargo). The company believes they are sustainable.
  • Management to focus on reducing costs and grow rapidly.
  • Indigo will keep its fleet largely constant at current levels of 280-285 planes.

    Originally Published On: https://blog.investyadnya.in/interglobe-aviation-q2fy22-result-conference-call-highlights/
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