InterGlobe Aviation – parent company of IndiGo airline – reported a consolidated net profit of Rs 496 crore during the December quarter of FY20 (Q3FY20). The figure was 167.9 per cent higher from a profit of Rs 185.2 crore logged in the December quarter of FY19.
During the September quarter of the current fiscal (Q2FY20), the budget carrier had reported its highest ever quarterly loss of Rs 1,065.6 crore.
“We reported a profit before tax of Rs 5.6 billion with a profit before tax margin of 5.6 per cent compared to 2.3 per cent profit before tax margin for the same quarter last year,” said Ronojoy Dutta, chief executive officer at IndiGo.
On the sales front, the low cost carrier (LCC) clocked Rs 10,330 crore during the recently concluded quarter, as against sales of Rs 8,229.3 crore year-on-year (Q3FY19).
The EBITDAR (Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs), meanwhile, came in at Rs 1,960.7, up 17.2 per cent from Rs 1,672.9 crore reported in the same quarter of the previous fiscal. The EBITDAR margin came in at 19.7 per cent.
A320 NEO ISSUE
The management issued no comment on the progress of engine replacement in its A320neo aircraft.
At the end of December 2019, IndiGo had a fleet of 257 aircraft, of which 96 are A320neo, 126 are A320ceo, and 10 are A321neo.
Aviation watchdog Directorate General of Civil Aviation (DGCA) has asked the airline to replace all the Pratt and Whitney powered engines in the A320 neo aircraft that have been facing issues of engine failure for over a year.
Recently, DGCA extended the 31 January deadline for modification of P&W engines installed on IndiGo’s A320neo planes to May-end.
IndiGo has a fleet of 245, including 89 A320neos. These are powered by Pratt & Whitney (PW) engines and have been facing low-pressure turbine issues, main gearbox failure, and engine vibration, resulting in schedule disruptions.
The stock of the airline closed 0.54 per cent lower at Rs 1,492.85 on Monday, as against a fall of 1.10 per cent in the S&P BSE Sensex at 41,155 level.