Q4 2024 Interglobe Aviation Ltd Earnings Call Transcript
Key Points
- InterGlobe Aviation Ltd (BOM:539448) reported its highest ever total income of around INR712 billion for FY2024, a 27% increase from FY2023.
- The company achieved an annual net profit of around INR82 billion, reversing a marginal loss from FY2023.
- InterGlobe Aviation Ltd (BOM:539448) has been profitable for six consecutive quarters post-COVID and for all four quarters in FY2024.
- The company launched seven new international destinations and expanded direct routes by 25% in FY2024.
- InterGlobe Aviation Ltd (BOM:539448) signed codeshare agreements with British Airways and Malaysia Airlines, and extended its agreement with Qantas, leading to a 45% growth in codeshare passenger numbers.
- The company faced headwinds in FY2024, including aircraft groundings, which impacted operations.
- There are inflationary pressures expected in FY2025, particularly in maintenance and airport fees, which could affect costs.
- The rupee's depreciation led to a foreign exchange loss of INR1.7 billion in the fourth quarter of FY2024.
- Non-fuel costs increased by 14.7% year-over-year in the fourth quarter of FY2024, driven by cost escalation, grounding-related costs, and higher employee costs.
- The company anticipates continued inflationary pressures in certain cost lines in FY2025, which could impact profitability.
Good evening, ladies and gentlemen, and welcome to IndiGo's conference call to discuss the fourth-quarter and fiscal year 2024 financial results. My name is Neerav, and I'll be your coordinator. (Operator Instructions)
I would now like to turn the call to your moderator to Ms. Richa Chhabra from the Investor Relations team of IndiGo. Thank you, and over to you, ma'am.
Good evening, everyone, and thank you for joining us for the fourth-quarter and fiscal year 2024 earnings call. We have with us our Chief Executive Officer, Pieter Elbers; and our Chief Financial Officer, Gaurav Negi; and our Head of Investor Relations, Kailash Rana, to discuss the financial performance and are available for the Q&A session.
Please note that today's discussion may contain certain statements on our business or financials, which may be construed as forward looking. Our actual results may be materially different from these forward-looking statements. The information provided on this call is as of today's date,
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