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Reliance Securities Report
InterGlobe Aviation Ltd. recorded strong performance in Q3 FY22. Its revenue increased by 89% YoY and 66% QoQ to Rs 92.9 billion, versus our estimate of Rs 83.4, as capacity increased by 50% YoY due to t heeasing of flight capacity restrictions.
Passenger yields came in at Rs 4.4. Passenger revenue grew by 98% YoY and 71% QoQ, while ancillary revenue grew by 41% YoY and 40% QoQ.
Cost of available seat kilometer for the quarter stood at Rs 4.03, while revenue per available seat kilometer stood at Rs 4.09. Passenger load factor increased by 7.7% to 79.7%.
It reported an Ebitdar of Rs 19.1 billion and Ebitdar margin of 20.5%, due to better operating leverage.
IndiGo recorded a net profit of Rs 1.3 billion, against a net loss of Rs 6.3 billion in Q3 FY21 and Rs 14.4 billion net loss in Q2 FY22 (versus our estimated net loss of Rs 1.8 billion).
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