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InterGlobe Aviation Limited — Interim / Quarterly Report 2022
Oct 28, 2021
61901_rns_2021-10-28_aa4dad87-4e82-421a-af2c-118e043bbefa.pdf
Interim / Quarterly Report
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October 28, 2021
IGAUSECT /1 0-21 /06
To To National Stock Exchange of India limited Department of Corporate Services Exchange Plaza, C - 1 • Block G BSE Limited Bandra Kurla Complex Phiroze Jeejeebhoy Towers Bandra - (E) Dalal Street Mumbai - 400 051 Mumbai - 400 001 Symbol: INDIGO Scrip Code: 539448
Dear Sir / Madam,
Re : Dlsclosure under Regulation 30 of the SEBl (listing Obligations and Disclosure Requirements) Regulatlons 2015 (the "SEBl LODA Regulations")
In compliance with Regulation 30 and other applicable regulations of the SEBI LODA Regulations, please find enclosed a copy of the presentation on the unaudited financial results of the Company for the quarter and half year ended September 30, 2021, to be made to Analysts and Institutional Investors.
This is for your information and record.
Thanking you,
For lnterGlobe Aviation limited � .,-l9 Compliance Officer
lnterGlobe Aviation Limited Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi - 110 001, India, M +91 9650098905, F +91 11 43513200,Email: corporate@goindlgo,ln
f.:
Corporate Office: Levell, Tower C, Global Business Park, MG Road, Gurgaon - 122 002, Haryano, Indio. T +91 124 435 2500. F + 91 124 406 8536 CIN no.: L62100DL2004PLC129768
galndigo.in eom lnTeRGLOBe
Earnings Presentation Q2 FY22 Jul – Sep 2021
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
2
Financial highlights for the quarter
| Particulars (in INR million) | Quarter Ended | Quarter Ended | Quarter Ended |
|---|---|---|---|
| Sep’21 | Sep'20 | Change% | |
| ASK (billion) | 15.8 | 8.9 | 78.3% |
| Total income | 57,987 | 30,292 | 91.4% |
| RASK (INR) | 3.60 | 3.24 | 11.3% |
| Total expenses | 72,344 | 42,241 | 71.3% |
| CASK (INR) | 4.51 | 4.58 | -1.6% |
| CASK ex fuel (INR) | 3.25 | 3.85 | -15.7% |
| EBITDAR | 3,408 | 4,085 | -16.6% |
| EBITDAR Margin | 6.1% | 14.9% | -8.8 pts |
| PBT | -14,357 | -11,949 | -20.2% |
| PBT Margin | -25.6% | -43.6% | 18.0 pts |
| PAT | -14,357 | -11,948 | -20.2% |
| PAT Margin | -25.6% | -43.6% | 18.0 pts |
3
Revenue breakup for the quarter
| Particulars (in INR million) | Quarter Ended | Quarter Ended | Quarter Ended |
|---|---|---|---|
| Sep’21 | Sep'20 | Change% | |
| Revenue from operations | 56,085 | 27,410 | 104.6% |
| Other income | 1,902 | 2,882 | -34.0% |
| Total income | 57,987 | 30,292 | 91.4% |
| ASK (billion) | 15.8 | 8.9 | 78.3% |
| RPK (billion) | 11.2 | 5.8 | 94.9% |
| Load factor (%) | 71.1% | 65.1% | 6.1 pts |
| Yield (INR) | 4.19 | 3.83 | 9.6% |
| RASK (INR) | 3.60 | 3.24 | 11.3% |
Note : The above operational metrics includes non-scheduled operations.
4
Cost breakup for the quarter
| Particulars (in INR million) | Quarter Ended | Quarter Ended | Quarter Ended |
|---|---|---|---|
| Sep’21 | Sep'20 | Change% | |
| Aircraft fuel expenses | 19,894 | 6,464 | 207.8% |
| Aircraft and engine rentals (net) | 649 | 743 | -12.7% |
| Supplementary rentals and aircraft repair and maintenance (net) |
14,620 | 8,422 | 73.6% |
| Airport fees and charges | 5,194 | 3,138 | 65.5% |
| Purchase of stock in trade | 163 | 24 | 576.8% |
| Changes in inventories of stock in trade | 10 | 17 | -43.9% |
| Employee costs | 8,024 | 7,394 | 8.5% |
| Finance costs | 5,688 | 5,625 | 1.1% |
| Depreciation and amortization expenses | 12,481 | 11,266 | 10.8% |
| Foreign exchange (gain)/ loss (net) | -342 | -5,137 | -93.3% |
| Other expenses | 5,963 | 4,285 | 39.2% |
| Total expenses | 72,344 | 42,241 | 71.3% |
| CASK (INR) | 4.51 | 4.58 | -1.6% |
| CASK ex fuel (INR) | 3.25 | 3.85 | -15.7% |
| Exchange Rate (US$/INR)* | 74.22 | 73.69 | 0.7% |
| Fuel Price (INR / Litre)** | 69.63 | 43.49 | 60.1% |
- Closing Exchange Rate for the quarter
** Average fuel price announced by IOCL for domestic airlines for the 4 metros – Delhi, Mumbai, Kolkata and Chennai
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Cash and Debt
| Particulars (in INR million) | Quarter Ended | Quarter Ended | Quarter Ended |
|---|---|---|---|
| Sep’21 | Sep'20 | Change% | |
| Free Cash | 63,516 | 69,734 | -8.9% |
| Restricted Cash | 102,023 | 109,584 | -6.9% |
| Total Cash | 165,539 | 179,318 | -7.7% |
| Debt excluding capitalized operating lease liability |
47,727 | 24,875 | 91.9% |
| Capitalized operating lease liability |
275,626 | 229,319 | 20.2% |
| Total Debt | 323,353 | 254,194 | 27.2% |
6
Appendix
Fleet breakup
30[th] Sep, 2021 279
30[th] Jun, 2021 277
30[th] Sep, 2020 282
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• 14 Owned/Finance • 15 Owned/Finance • 22 Owned/ Finance
Lease Lease Lease
• • •
265 Operating Lease 262 Operating Lease 260 Operating Lease
• • •
130 A320neo 122 A320neo 116 A320neo
• • •
72 A320ceo 85 A320ceo 117 A320ceo
• • •
44 A321neo 41 A321neo 24 A321neo
• • •
33 ATR 29 ATR 25 ATR
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Non-IndAS measures- RASK
| Particulars (in INR million) | Quarter Ended | Quarter Ended |
|---|---|---|
| Sep’21 | Sep’20 | |
| Total revenue | 57,987 | 30,292 |
| Finance income | 1,053 | 1,600 |
| Total revenue less finance income (A) | 56,934 | 28,692 |
| ASK (millions) (B) | 15,813 | 8,868 |
| RASK (INR) (C=A/B) | 3.60 | 3.24 |
9
Non-IndAS measures- CASK
| Particulars (in INR million) | Quarter Ended | Quarter Ended |
|---|---|---|
| Sep’21 | Sep’20 | |
| Total expenses | 72,344 | 42,241 |
| Finance income | 1,053 | 1,600 |
| Total expense less finance income (A) | 71,291 | 40,640 |
| ASK (millions) (B) | 15,813 | 8,868 |
| CASK (INR) (C=A/B) | 4.51 | 4.58 |
| Fuel cost/ ASK (INR) (D) | 1.26 | 0.73 |
| CASK ex fuel (INR) (E=C-D) | 3.25 | 3.85 |
10
Non-IndAS measures- EBITDAR
| Particulars (in INR million) | Quarter Ended | Quarter Ended |
|---|---|---|
| Sep’21 | Sep’20 | |
| PBT | -14,357 | -11,949 |
| Finance cost | 5,688 | 5,625 |
| Less: Finance income | 1,053 | 1,600 |
| Depreciation & amortization | 12,481 | 11,266 |
| Aircraft and engine rental | 649 | 743 |
| EBITDAR (B) | 3,408 | 4,085 |
| Revenue from Operations (C) | 56,085 | 27,410 |
| EBITDAR Margin (E=B/C) | 6.1% | 14.9% |
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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 |
| Load Factor | Revenue Passenger Kilometer / Available Seat Kilometer |
| EBITDAR | Earnings before finance income and cost, tax, depreciation, amortization and aircraft and engine rental |
| EBITDAR margin | EBITDAR / Revenue from Operations |
| OTP | On Time Performance |
| RASK | Total Revenue net of finance income per Available Seat Kilometer |
| RPK | Revenue Passenger Kilometer |
| Yield | Passenger Ticket Revenue / Revenue Passenger Kilometer |
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