IndiGo Q1 Results Review - A Record Quarter With All Time High Revenue, Net Profit: Prabhudas Lilladher

"BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.InterGlobe Aviation Ltd. reported a record quarter with all time high revenue/profit after tax of Rs 166.8 billion/Rs 30.9 billion respectively aided by strong load factor of 88.7% (our estimate: 88.0%) and yield of Rs 5.1 (our estimate: Rs 4.9) coupled with 26.6% YoY decline in fuel cost available seat kilometer to Rs 1.6 (our estimate: Rs 1.7) amid fall in crude prices. We believe IndiGo is well placed to strongly benefit from-capacity deployment (north of mid-teens capacity guidance remains intact for FY24E, despite escalation in engine issues at Pratt & Whitney),network expansion in domestic as well as international markets andsuperior balance sheet (Rs 157 billion of free cash). Despite a record quarter, we cut our Ebitdar estimates by ~7% each for FY24/FY25E as yields are witnessing higher pressure on sequential basis (as compared to past) while aviation turbine fuel prices have increased by ~11% in last two months. We expect revenue compound annual growth rate of 15% over next two years with Ebitdar margin of 25.4%/28.1% in FY24E/FY25E. Retain ‘Buy’ with a target price of Rs 2,855 (enterprise value/Ebitdar multiple of seven times December-24E; no change in target multiple)..Click on the attachment to read the full report:.IndiGo Q1 Results Review - Capacity Growth Guidance Remains Intact After A Record Quarter: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

IndiGo Q1 Results Review - A Record Quarter With All Time High Revenue, Net Profit: Prabhudas Lilladher

Reported highest ever revenue/profit after tax of Rs 166.8 billion/Rs 30.9 billion.

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IndiGo Q1 Results Review - A Record Quarter With All Time High Revenue, Net Profit: Prabhudas Lilladher

Reported highest ever revenue/profit after tax of Rs 166.8 billion/Rs 30.9 billion.

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