InterGlobe Aviation tanks on reports of further delay in delivery of Airbus A320 neo aircraft

InterGlobe Aviation lost 12.9% to Rs 1,043 at 11:59 IST on BSE after the company's management in a post-result conference call reportedly said it may miss target of taking up 111 aircraft in FY 2016 after delay in delivery of Airbus A320 neo aircraft

Meanwhile, the S&P BSE Sensex was up 399.22 points or 1.67% at 24,361.43.

On BSE, so far 7.46 lakh shares were traded in the counter as against average daily volume of 4.76 lakh shares in the past one quarter. The stock hit a high of Rs 1,180 and a low of Rs 1,033 so far during the day. The stock had hit a record low of Rs 848.10 on 10 November 2015. The stock had hit a record high of Rs 1,395.50 on 1 January 2016.

The large-cap company has equity capital of Rs 360.36 crore. Face value per share is Rs 10.

InterGlobe Aviation's management reportedly said that the airline is in talks with Airbus and engine maker Pratt & Whitney for early delivery of A320 neo aircraft. It may be recalled that InterGlobe Aviation had last month said that it had received an official notification from Airbus on 17 December 2015 that the A320 neo aircraft which was to be delivered to the company on 30 December 2015, had been delayed due to industrial reasons. InterGlobe Aviation was waiting for the fuel-efficient neo versions of the Airbus aircraft that will help IndiGo save fuel costs by 10-15%, reports suggested.

InterGlobe Aviation's net profit rose 23.7% to Rs 657.28 crore on 11.9% growth in revenue to Rs 4407.49 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 21 January 2016.

InterGlobe Aviation's revenue from passenger segment rose 9.5% to Rs 3763.76 crore in Q3 December 2015 over Q3 December 2014. Ancillary revenue rose 27.1% to Rs 514.86 crore in Q3 December 2015 over Q3 December 2014.

As of 31 December 2015, IndiGo had a total cash of Rs 5746.30 crore comprising of Rs 2097.40 crore of free cash and restricted cash of Rs 3648.90 crore. The total debt was Rs 3930.20 crore, all of which is aircraft related. IndiGo does not have any working capital debt, InterGlobe Aviation said in a statement.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo which is India's largest airline with a market share of 35.6% in December 2015.

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