 "IndiGo dips 5% on disappointing Q3 results")
InterGlobe Aviation (IndiGo) has dipped 5% to Rs 854 on the BSE in early morning trade after the company reported 25% year on year (YoY) decline in its net profit at Rs 487 crore for the quarter ended December 2016 (Q3FY17), due to lower yield and increase in fuel cost. The company had profit of Rs 650 crore in the same quarter last fiscal.
IndiGo, the country's largest airline by market share, recorded 16.8% growth in total revenue to Rs 5,158 crore in Q3FY17 but yields fell due to demonetisation. The company’s yield dropped to Rs 3.48 per kilometre in Q3 this fiscal, down from Rs 4 in same period a year ago.
Earnings before interest, taxes, depreciation, amortisation, aircraft and engine rent costs (EBITDAR) stood at 29.3% in Q3FY17 against 39% in Q3FY16, down by 10 basis points.
IndiGo said the operational performance impacted during the quarter primarily due to challenges faced by adverse weather conditions, ATC congestion at key airports and A320neo issues.
A combined 127,683 shares changed hands on the counter on the BSE and NSE till 09:38 am.
IndiGo, the country's largest airline by market share, recorded 16.8% growth in total revenue to Rs 5,158 crore in Q3FY17 but yields fell due to demonetisation. The company’s yield dropped to Rs 3.48 per kilometre in Q3 this fiscal, down from Rs 4 in same period a year ago.
Earnings before interest, taxes, depreciation, amortisation, aircraft and engine rent costs (EBITDAR) stood at 29.3% in Q3FY17 against 39% in Q3FY16, down by 10 basis points.
IndiGo said the operational performance impacted during the quarter primarily due to challenges faced by adverse weather conditions, ATC congestion at key airports and A320neo issues.
A combined 127,683 shares changed hands on the counter on the BSE and NSE till 09:38 am.
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