InterGlobe Aviation stock trades flat ahead of Q2 result; analysts expect weak show
IndiGo shares: At around 10:50 a.m., shares of InterGlobe Aviation, or IndiGo, were down 0.29 per cent or Rs 7.3, at Rs 2,482.15 apiece. The market capitalisation of the company stood at Rs 95,759.27 crore.
IndiGo shares: InterGlobe Aviation, the parent company of IndiGo Airlines, will announce its July to September quarter (Q2FY24) numbers today, November 3. Ahead of the result announcement, InterGlobe Aviation's stock traded lower on the back of analysts' estimations of weak performance in Q2 FY24.
At around 10:50 a.m., shares of InterGlobe Aviation, or IndiGo, were down 0.29 per cent or Rs 7.3, at Rs 2,482.15 apiece. The market capitalisation of the company stood at Rs 95,759.27 crore.
According to analysts, the company is expected to post a consolidated loss of Rs 2,060 crore as against a profit of Rs 3,091 crore a year ago.
Zee Business analysts estimate the revenue of the company to decline 13.4 per cent for the quarter under review at Rs 14,438 crore as against Rs 16,683 crore logged in the year-ago period.
Further, they see the earnings before interest, tax, depreciation, and amortisation or rent cost (EBITDAR) at Rs 1,824 crore for the three months as compared to Rs 5,211 crore in the corresponding quarter of the previous year, which translates to a decline of 65 per cent.
According to Zee Business research, the company's margin, a key to measuring profitability, is likely to slip by 1,540 basis points (bps) at 15.8 per cent against 31.2 per cent year-on-year (YoY).
The passenger load factor, which measures the ratio of actual passengers to the available seats i.e. the percentage of available seats that are filled by passengers, is expected to increase by 84 per cent.
Further, forex losses are likely to increase along with airfares.
IndiGo Q1 results
The airline company reported the highest ever-quarterly net profit of Rs 3,090.7 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, IndiGo posted a net loss of Rs 1,064.3 crore, the company said in a regulatory filing.
The airline recorded the highest ever-quarterly revenue of Rs 16,683 crore during the June quarter, up 29.8 per cent against Rs 12,855.2 crore in the corresponding period of the preceding fiscal.
IndiGo share price: Past performance
In 2023 so far, shares of InterGlobe Aviation have risen 21 per cent against the headline index's rise of over 5 per cent.
stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.