Aviation stocks grounded
May 3rd, 2018
InterGlobe Aviation (down 12.81%), Jet Airways (India) (down 8.97%) and SpiceJet (down 7.05%), edged lower.
Meanwhile, the S&P BSE Sensex was down 126.49 points, or 0.36% at 35,049.93.
InterGlobe Aviation's net profit fell 73.3% to Rs 117.64 crore on 19.6% increase in net sales to Rs 5799.11 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 2 May 2018.
The company's EBITDAR (earnings before finance income and cost, tax, depreciation, amortization and aircraft and engine rentals) fell 21.9% to Rs 1132.10 crore in Q4 March 2018 over Q4 March 2017. EBITDAR margin for the quarter fell to 19.5% from 29.9% in the same period last year.
Profits were lower during the quarter compared to the same period last year primarily because of increase in fuel prices, decline in yields and foreign exchange impact.
Net profit rose 35.1% to Rs 2242.37 crore on 23.9% increase in net sales to Rs 23020.89 crore in the year ended March 2018 over the year ended March 2017.
The total debt as on 31 March 2018 was Rs 2452.70 crore. InterGlobe Aviation is the operator of low cost passenger airline IndiGo, which is India's largest passenger airline with a market share of 39.5% as of March 2018.
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