InterGlobe Aviation Limited — Interim / Quarterly Report 2020

Jan 27, 2020

IGAUSECT/01-20/10

January 27, 2020

To To Notional Stock Exchange of Indio Limited Deportment of Corporate Services Exchange Plaza, C - 1 , Block G BSE Limited Sandro Kurlo Complex Phlroze Jeejeebhoy Towers Bondro - (E) Dalal Street Mumbai - 400 051 Mumbai - 400 001 Symbol: INDIGO Scrip Code: 539448

Dear Sir.

Sub : D sclosure und r A ulat on 30 of the SEBI Llstln llgatlons and Disclosure Requirements) Aegulatlons. 2015 ("LlstJng�utatlons")

In compliance with Regulation 30 and other applicable regulations of the Listing Regulations, please find enclosed a copy of the presentation on flnonclol results for the quarter ended December 31, 2019, to be mode to Analysts and Institutional Investors.

This Is for your information and record.

Thanking you,

For lnterGlobe Aviation Limited

lnterGlobe Avlotlon limited

. (l�oreglstered Office, Central Wing, Ground floor. Thapar House, 124 Jonpath, New Delhl-110 001, Ind la. f 011-4351 3200 Email-porate Office, level l, Tower C, Global Business Pork, MG Aoad. Gurgaon- 122 002, Haryana, India. T+91 124 435 �500.; +91 124 406 8536 .golndlgo In N no.: l62l 00Dl2004PLC129768 corporote@golndlgo In

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Earnings Presentation Q3 FY20 Oct – Dec 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
	Dec'19	Dec'18	Change%
ASK (billion)	25.8	21.6	19.3%
Total income	103,302	82,293	25.5%
RASK (INR)	3.91	3.70	5.6%
Total expenses	97,736	80,469	21.5%
CASK (INR)	3.69	3.62	2.1%
CASK ex fuel (INR)	2.40	2.04	17.5%
EBITDAR*	19,607	16,729	17.2%
EBITDAR Margin*	19.7%	21.1%	-1.4 pts
PBT	5,565	1,824	205.1%
PBT Margin	5.6%	2.3%	3.3 pts
PAT	4,960	1,852	167.9%
PAT Margin	5.0%	2.3%	2.7 pts

• Numbers are not comparable since Supplementary Rentals earlier disclosed under “Aircraft and Engine Rentals” in Dec’18 are disclosed under “Supplementary rentals and aircraft repair and maintenance” in Dec’19

3

Revenue breakup for the quarter

Particulars (in INR million)	Quarter Ended	Quarter Ended	Quarter Ended
	Dec'19	Dec'18	Change%
Revenue from operations	99,317	79,162	25.5%
Other income	3,985	3,130	27.3%
Total income	103,302	82,293	25.5%
ASK (billion)	25.8	21.6	19.3%
RPK (billion)	22.6	18.4	22.6%
Load factor (%)	87.6%	85.3%	2.3 pts
Yield (INR)	3.88	3.83	1.2%
RASK (INR)	3.91	3.70	5.6%

4

Cost breakup for the quarter

Particulars (in INR million)	Quarter Ended	Quarter Ended	Quarter Ended
	Dec'19	Dec'18	Change%
Aircraft fuel expenses	33,419	34,104	-2.0%
Aircraft and engine rentals (net)	1,343	10,573	-87.3%
Supplementary rentals and aircraft repair and maintenance (net)	16,331	10,538	55.0%
Airport fees and charges	7,831	6,214	26.0%
Purchase of stock in trade	473	393	20.3%
Changes in inventories of stock in trade	-23	-10	-136.0%
Employee costs	12,501	8,574	45.8%
Finance costs	4,805	1,377	249.0%
Depreciation and amortization expenses	10,377	2,038	409.1%
Foreign exchange (gain)/ loss (net)	1,250	-1,035	220.8%
Other expenses	9,429	7,702	22.4%
Total expenses	97,736	80,469	21.5%
CASK (INR)	3.69	3.62	2.1%
CASK ex fuel (INR)	2.40	2.04	17.5%
Exchange Rate (US$/INR)*	71.30	69.71	2.3%
Fuel Price (INR / Litre)**	65.22	74.05	-11.9%

• 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
	Dec'19	Dec'18	Change%
Free Cash	94,128	46,245	103.5%
Restricted Cash	106,559	95,178	12.0%
Total Cash	200,687	141,423	41.9%
Debt excluding lease liability	23,506	24,759	-5.1%
Lease liability *	192,046	-	-
Total Debt *	215,553	24,759	770.6%

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

6

Capacity update

• Year over year capacity increase in ASKs is expected to be 20% for the fourth quarter and

• 23% for the full fiscal year 2020

• For Fiscal Year 2021, capacity increase in ASKs is expected to be around 20%

7

Appendix

Fleet breakup

30[th] Sep, 2019 245

31[st] Dec, 2019 257

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• 29 Owned/Finance • 29 Owned/Finance
Lease Lease
• •
228 Operating Lease 216 Operating Lease
• •
96 A320neo 89 A320neo
• •
126 A320ceo 129 A320ceo
• •
10 A321neo 6 A321neo
• •
25 ATR 21 ATR
----- End of picture text -----

31[st] Dec, 2018 208

• 29 Owned/ Finance

• Lease

• • 179 Operating Lease

• • 66 A320neo

• • 127 A320ceo

• • 1 A321neo

• • 14 ATR

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 and aircraft 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