InterGlobe Aviation Limited — Interim / Quarterly Report 2020

Jul 19, 2019

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Earnings Presentation Q1 FY20 Apr – Jun 2019

1

Safe harbor

This document may contain some statements on the Company’s business or financials which may be construed as forward looking. The actual results may be materially different from these forward looking statements.

This document forms part of the quarterly earnings release and should be viewed together with the Earnings Press Release and Earnings Conference Call

2

Financial highlights for the quarter

Particulars (in INR million)	Quarter Ended	Quarter Ended	Quarter Ended
	Jun’19	Jun’18	Change%
ASK (billion)	23.3	17.8	30.3%
Total income	97,869	68,183	43.5%
RASK (INR)	4.10	3.70	10.7%
Total expenses	82,775	67,870	22.0%
CASK (INR)	3.45	3.69	-6.3%
CASK ex fuel (INR)	2.11	2.17	-2.8%
EBITDAR	27,785	11,301	145.9%
EBITDAR Margin	29.5%	17.4%	+12.1 pts
PBT	15,094	313	4716.3%
PBT Margin	16.0%	0.5%	+15.5 pts
PAT	12,031	278	4229.7%
PAT Margin	12.8%	0.4%	+12.3 pts

3

Revenue breakup for the quarter

Particulars (in INR million)	Quarter Ended	Quarter Ended	Quarter Ended
	Jun’19	Jun’18	Change%
Revenue from operations	94,201	65,120	44.7%
Other income	3,669	3,064	19.8%
Total income	97,869	68,183	43.5%
ASK (billion)	23.3	17.8	30.3%
RPK (billion)	20.7	15.9	29.8%
Load factor (%)	88.9%	89.3%	-0.4 pts
Yield (INR)	4.08	3.62	12.8%
RASK (INR)	4.10	3.70	10.7%

4

Cost breakup for the quarter

Particulars (in INR million)	Quarter Ended	Quarter Ended	Quarter Ended
	Jun’19	Jun’18	Change%
Aircraft fuel expenses	31,361	27,156	15.5%
Aircraft and engine rentals (net)	1,288	8,080	-84.1%
Supplementary rentals and aircraft repair and maintenance (net)	10,235	8,589	19.2%
Airport fees and charges	6,768	5,633	20.2%
Purchase of stock in trade	439	319	37.7%
Changes in inventories of stock in trade	(21)	5	-504.9%
Employee costs	11,081	6,536	69.5%
Finance costs	4,842	1,087	345.5%
Depreciation and amortization expenses	9,009	1,553	480.2%
Foreign exchange (gain)/ loss (net)	(446)	2,461	-118.1%
Other expenses	8,220	6,451	27.4%
Total expenses	82,775	67,870	22.0%
CASK (INR)	3.45	3.69	-6.3%
CASK ex fuel (INR)	2.11	2.17	-2.8%
Exchange Rate (US$/INR)*	68.90	68.44	0.7%
Fuel Price (INR / Litre)**	66.20	67.01	-1.2%

• Closing Exchange Rate for the quarter

** Average fuel price announced by IOCL for domestic airlines for the 4 metros – Delhi, Mumbai, Kolkata and Chennai

5

Cash and Debt

Particulars (in INR million)	As of	As of	As of
	Jun’19	Jun’18	Change%
Free Cash	76,968	61,049	26.1%
Restricted Cash	96,402	71,007	35.8%
Total Cash	173,371	132,056	31.3%
Debt excluding lease liability	23,608	25,219	-6.4%
Lease liability *	160,701	-	-
Total Debt *	184,309	25,219	630.8%

• With effect from 1[st] April 2019, the Company has capitalized its operating leases in accordance with Ind AS 116.

6

Capacity update

• For fiscal year 2020, year over year capacity increase in ASKs is expected to be 30%

• For second quarter fiscal year 2020, year over year capacity increase in ASKs is expected

  • to be 28%

7

Appendix

Fleet breakup

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----- Start of picture text ----- 30 [th] Jun, 2019 31 [st] Mar, 2019 30 [th] Jun, 2018235 217 169• 29 Owned/Finance • 29 Owned/Finance • 26 Owned/ FinanceLease Lease Lease• • •206 Operating Lease 188 Operating Lease 143 Operating Lease• •83 A320neo 71 A320neo•36 A320neo• •129 A320ceo 130 A320ceo•124 A320ceo• •5 A321neo 1 A321neo•9 ATR• •18 ATR 15 ATR----- End of picture text -----

9

Definitions and Abbreviations

Term	Description
ASK	Available Seat Kilometer
CASK	Total Cost net of finance income per Available Seat Kilometer
CASK ex fuel	Total Cost excluding fuel cost net of finance income per Available Seat Kilometer
EBITDAR	Earnings before finance income and cost, tax, depreciation, amortization andaircraft and engine rentals
EBITDAR margin	EBITDAR / Revenue from Operations
Load Factor	Revenue Passenger Kilometer / Available Seat Kilometer
RASK	Total Revenue net of finance income per Available Seat Kilometer
RPK	Revenue Passenger Kilometer
Yield	Passenger Ticket Revenue / Revenue Passenger Kilometer

10

Thank You