InterGlobe Aviation reports 73% YoY drop in Q4 profit

NEW DELHI: InterGlobe Aviation on Wednesday reported 73.30 per cent yearly drop in profit at Rs 117.64 crore for March quarter.

The owner of IndiGo airlines had reported Rs 440.30 crore profit in the corresponding quarter last year.

Aditya Ghosh, the company President, stepped down last week. Promoter and co-founder Rahul Bhatia, has been appointed as interim CEO.


In a filing to the BSE, the company said the Q4 numbers included certain credits received from manufacturers to offset some of the impact of aircraft groundings and delivery delays.

Revenue for the quarter rose 19.6 per cent YoY to Rs 5,799.11 crore. PAT Margin for the quarter fell to 2 per cent from 9.1 per cent in the year-ago quarter.

Ebitdar (Earnings before interest, taxes, depreciation, amortization and rent/restructuring costs) margin for the quarter for the quarter fell to 19.5 per cent from 29.9 per cent in the same period last year.

The company said its entire debt at Rs 2,452.72 crore is aircraft-related. lndiGo does not have any working capital debt, it said. The aviation company had a total cash balance of Rs 13,708 crore, the company said.

The company board has recommended a dividend of Rs 6 per share.

Meanwhile, the market watchdog Sebi is investigating a sharp drop in the company’s shares on April 27, as well as the reasons behind the delay in the disclosure of Aditya Ghosh’s exit by the company, Bloomberg quoted sources as saying.