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InterGlobe Aviation share falls 2.6% on Rs 1,194-crore loss in Q2

Share price of InterGlobe Aviation fell 2.59% to Rs 1,296 against previous close of Rs 1,331 on BSE

twitter-logoBusinessToday.In | October 30, 2020 | Updated 12:35 IST
InterGlobe Aviation share falls 2.6% on Rs 1,194-crore loss in Q2
InterGlobe Aviation stock trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages

InterGlobe Aviation share fell over 2% in trade today after the airline reported widening of losses in Q2.  The operator of budget airline IndiGo, which was hit by Covid-19 led disruptions, reported a loss of Rs 1,194.8 crore in Q2 higher than the loss of Rs 1,062 crore posted in the corresponding quarter of the previous fiscal.

Share price of InterGlobe Aviation fell 2.59% to Rs 1,296 against previous close of Rs 1,331 on BSE.

InterGlobe Aviation stock trades higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. The aviation stock has lost 12.87% in one year and fallen 1.18% since the beginning of this year.

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However, in a month, the share has gained 5.42%. Total 0.88 lakh shares changed hands amounting to turnover of Rs 11.62 crore. Market cap of the lender fell to Rs 50,604 crore on BSE.

Loss more than halved on a sequential basis as the number of flights nearly doubled compared to the April-June quarter. Net loss narrowed from Rs 2,845 crore in the June quarter.

Total income fell 64.50 per cent YoY to Rs 3,029.2 crore, but rose 2.6 times over the previous quarter. EBITDA climbed 59.30 per cent to Rs 408.50 crore.

"For the quarter, our passenger ticket revenues were Rs 2,208.2 crore, a decrease of 68.9 per cent and ancillary revenues were Rs 506.6 crore, a reduction of 45.5 per cent compared to the same period last year," the company said.

As of September 30, IndiGo reported a total cash balance of Rs 17,931.8 crore, comprising Rs 6,973.4 crore of free cash and Rs 10,958.4 crore of restricted cash. The capitalised operating lease liability was Rs 22,931.9 crore and the total debt was at Rs 25,419.4 crore.

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