INSUBCONTINENT EXCLUSIVE:
net profit for the June quarter.
Profit stood at Rs 27.80 crore, hurt by adverse impact of foreign exchange, high fuel prices and a
competitive fare environment.
The aviation company had reported Rs 811.10 crore profit in the year-ago quarter
Aircraft fuel expenses rose 54.4 per cent YoY during the quarter to Rs 2,715.60 crore compared with Rs 1,759.2 crore in the year-ago
period.
The results came out after market hours yesterday.
The stock fell 9.78 per cent to hit a low of Rs 906 on the BSE early today
Foreign brokerage Citi has maintained sell on the stock with a new target of Rs 850
The brokerage has cut estimates of EBITDA by 5-16 per cent and that of earnings by 14-38 per cent.
Revenue for the quarter rose 13.2 per
cent to Rs 6,512 crore, the aviation company said
Passenger ticket revenues for the quarter rose 13.6 per cent to Rs 5,769.40 crore while ancillary revenues were up 16 per cent at Rs 682.70
crore.
The company expects its second quarter capacity increase in available seat kilometres (ASKs) to be 28 per cent on a YoY basis
For FY19, it sees 25 per cent jump in ASKs
The firm has 26 owned or finance lease and 143 operating lease aircraft
