InterGlobe Aviation slips, owing to results

Certainly, InterGlobe Aviation will see a significant movement in August 2 trade. Company post market hours on August 1 has declared its Q1FY17 results. Company in Q1, has reported an increase of 9 per cent in its total income from operation as compared to Q1FY16. EBITDA too has failed to impress and stands at Rs 815.22 crores, which has decreased by 16 per cent on a YoY basis. Company has reported a net profit of 591.77 crores in Q1FY17, which has decreased by 8 per cent as compared to the corresponding quarter of the previous fiscal.

The company also has reduced its debt by Rs 459 crore to Rs 2,786 crore by retiring debt-related to three aircrafts taken on a finance lease. Company is the owner of IndiGo Airlines, which has ordered a total of 430 A320 neo aircrafts, making it one of the European plane maker - Airbus' largest customer.

On the other hand, the shares on Aug 2 as on as at 9.15 am have opened at 914.35, down by 6.12 per cent. Shares in the last 5 days have fallen significantly. In the last 1 month they have fallen by 7 per cent. Shares' 52-week High/Low stands at Rs 1395/702.

The Company was originally incorporated in Lucknow as Interglobe Aviation Private Limited, a private limited company, under the Companies Act, 1956 on January 13, 2004 with the Registrar of Companies, Uttar Pradesh and Uttaranchal at Kanpur.