{"id":130192,"date":"2022-05-26T03:47:00","date_gmt":"2022-05-26T07:47:00","guid":{"rendered":"https:\/\/44.250.171.167\/?p=130192"},"modified":"2022-10-06T03:20:07","modified_gmt":"2022-10-06T07:20:07","slug":"interglobe-aviation-limited-q4-fy22-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/interglobe-aviation-limited-q4-fy22-earnings-conference-call-insights\/","title":{"rendered":"InterGlobe Aviation Limited Q4 FY22 Earnings Conference Call Insights"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"InterGlobe Aviation Limited Q4 FY22 Earnings Concall\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/-gVonBsztsI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Key highlights from InterGlobe Aviation Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/INDIGO\/\">INDIGO<\/a>) Q4 FY22 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>INDIGO said it swung from a profitable 3Q22 to a loss-making 4Q22 because of about 15% higher fuel prices and on 11% lower capacity due to Omicron and a lower RASK of 2.9%.<\/li>\n<\/ul>\n<ul>\n<li>In 1Q23, INDIGO expects the capacity to rebound at almost 2.5 times the capacity deployed in 1Q22.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>Binay Singh from Morgan Stanley asked about the forex loss being much larger than anticipated. Gaurav Negi CFO said that the forex impact has been around INR600 crores, which is largely because the rupee had weakened approx. 2 points between Dec. and Mar. So a large chunk of the forex impact is mark-to-market.<\/li>\n<\/ul>\n<ul>\n<li>Deepika Mundra of JP Morgan asked about yield and how much of the delta would be potentially from the reopening of international flights. Gaurav Negi CFO replied that international profitability has been stronger than domestic and it always is.<\/li>\n<\/ul>\n<ul>\n<li>Deepika Mundra of JP Morgan also asked about the international versus domestic capacity increase INDIGO is planning for FY23. Ronojoy Dutta CEO said only long term trajectory can be given. Short-term, there is a lot of volatility. Overall, pre-COVID, INDIGO\u2019s capacity was 25% of its system. The projection for five years from now, international will be about 40% of its system.<\/li>\n<\/ul>\n<ul>\n<li>Deepika Mundra of JP Morgan enquired about the code-share agreements, how do they pan out in terms of profit dynamics vs. flights run singularly by IndiGo. Ronojoy Dutta CEO replied that the key to making money on codeshare is flow rate agreements. So INDIGO has a good position in the marketplace, and therefore are able to negotiate quite attractive pro rates.<\/li>\n<\/ul>\n<ul>\n<li>Mitul Shah with Reliance Securities asked about the impact on the traffic side with a sharp price hike on the ticket side. Ronojoy Dutta CEO said that it\u2019s a balancing game. INDIGO added that there will be load factor pressure as it increase prices.<\/li>\n<\/ul>\n<ul>\n<li>Mitul Shah with Reliance Securities also asked that after this capacity utilization and capacity increase for FY23 if it\u2019s close to pre-COVID level or even higher. Ronojoy Dutta CEO clarified that INDIGO is already higher than pre-COVID levels. It&#8217;s going to be close to 13-17% higher.<\/li>\n<\/ul>\n<ul>\n<li>Chintan Sheth from Sameeksha Capital asked about INDIGO\u2019s take on yield and how it will pan out. Ronojoy Dutta CEO said that the industry has been behaving quite rationally. INDIGO expects that the rational behavior will continue and wouldn&#8217;t see any crazy price wars or anything like that.<\/li>\n<\/ul>\n<ul>\n<li>Chintan Sheth from Sameeksha Capital asked about the run rate of employee cost going forward. Ronojoy Dutta CEO answered that on employee costs, INDIGO has some snapback in wages and it&#8217;s not over yet. So rates will go up as far as productivity goes. Absolute fares also one could expect them to go up in an inflationary environment.<\/li>\n<\/ul>\n<ul>\n<li>Arvind Sharma from Citi asked about any number for FY23 in terms of fleet expansion. Ronojoy Dutta CEO said that the reason the capacity is going up is because INDIGO has such a large number of A321s coming. INDIGO\u2019s overall fleet count won&#8217;t change much, but the capacity will go up because of higher base.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from InterGlobe Aviation Limited (INDIGO) Q4 FY22 Earnings Concall Management Update: INDIGO said it swung from a profitable 3Q22 to a loss-making 4Q22 because of about 15% higher fuel prices and on 11% lower capacity due to Omicron and a lower RASK of 2.9%. In 1Q23, INDIGO expects the capacity to rebound at [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5753],"tags":[212,8142],"class_list":["post-130192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-industrials","tag-airlines","tag-aviation"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":166611,"url":"https:\/\/alphastreet.com\/india\/indigo-q3-2024-2025-call-highlights-navigating-forex-losses-capacity-growth-yield-moderation\/","url_meta":{"origin":130192,"position":0},"title":"INDIGO Q3 2024-2025 Call Highlights: Navigating Forex Losses, Capacity Growth &#038; Yield Moderation!","author":"Praveen","date":"January 28, 2025","format":false,"excerpt":"Interglobe Aviation Ltd., India's largest airline by market share operating under the brand IndiGo, in its Q3 earnings call mentioned that the company expects yields to moderate by low single digits year-on-year, with international Available Seat Kilometers (ASKs) now at 28% of total capacity. The company also reported a largely\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/CC_Image_8.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":135725,"url":"https:\/\/alphastreet.com\/india\/interglobe-aviation-limited-q2-fy23-earnings-conference-call-insights\/","url_meta":{"origin":130192,"position":1},"title":"InterGlobe Aviation Limited Q2 FY23 Earnings Conference Call Insights","author":"Praveen","date":"November 7, 2022","format":false,"excerpt":"Key highlights from InterGlobe Aviation Limited (INDIGO) Q2 FY23 Earnings Concall Q&A Highlights: [00:13:10] Binay Singh from Morgan Stanley asked about yield breakup of international in terms of revenue in 1Q and 2Q. Sanjay Kumar CRO said that it\u2019s difficult to give the breakup but on revenue, INDIGO is seeing\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":127050,"url":"https:\/\/alphastreet.com\/india\/interglobe-aviation-limited-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":130192,"position":2},"title":"InterGlobe Aviation Limited Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"February 7, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=fVPq7FAPw6A Key highlights from InterGlobe Aviation Limited (INDIGO) Q3 FY22 Earnings Concall Management Update: INDIGO said the decline in COVID cases and removal of capacity restrictions resulted in buoyant traffic numbers. The company added capacity to take advantage of the ongoing recovery, which culminate into a profitable quarter. Q&A Highlights:\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":146705,"url":"https:\/\/alphastreet.com\/india\/interglobe-aviation-limited-q4-fy23-earnings-conference-call-insights\/","url_meta":{"origin":130192,"position":3},"title":"InterGlobe Aviation Limited Q4 FY23 Earnings Conference Call Insights","author":"Praveen","date":"May 19, 2023","format":false,"excerpt":"Key highlights from InterGlobe Aviation Limited (INDIGO) Q4 FY23 Earnings Concall Management Update: [00:16:36] INDIGO expects high mid-teens growth in 1Q24 vs. 1Q23 and aims to achieve north of mid-teens growth in FY24 vs. FY23. Q&A Highlights: [00:18:24] Binay Singh from Morgan Stanley asked about the profitability per fleet of\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":140181,"url":"https:\/\/alphastreet.com\/india\/interglobe-aviation-limited-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":130192,"position":4},"title":"InterGlobe Aviation Limited Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"February 6, 2023","format":false,"excerpt":"Key highlights from InterGlobe Aviation Limited (INDIGO) Q3 FY23 Earnings Concall Management Update: [00:02:17] INDIGO said, it had the highest ever quarterly revenue of INR154.1 billion and a profit of INR14.1 billion for 3Q23. [00:11:13] In 4Q23, INDIGO expects to operate at about 45% higher capacity vs. 4Q22. Q&A Highlights:\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":135696,"url":"https:\/\/alphastreet.com\/india\/interglobe-aviation-limited-q2-fy23-posted-a-net-loss-of-%e2%82%b91583-crore\/","url_meta":{"origin":130192,"position":5},"title":"InterGlobe Aviation Limited Q2 FY23; Posted A Net Loss Of \u20b91,583 Crore","author":"Hardik Bhandare","date":"November 4, 2022","format":false,"excerpt":"InterGlobe Aviation Limited (NSE: INDIGO) reported Q2FY23 Revenue, which increased to \u20b912,497.58 Crores from \u20b95,608.49 Crores, growth rate of 123% year on year. However, the Net Profit declined by 10% down to -\u20b91,583.33 Crores from -\u20b91,435.65 Crores year over year. The Earnings per share is -\u20b941.09 for this quarter.","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/9780ffbb-e886-4b85-9dc2-45db4f2dc33e-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/9780ffbb-e886-4b85-9dc2-45db4f2dc33e-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/9780ffbb-e886-4b85-9dc2-45db4f2dc33e-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/9780ffbb-e886-4b85-9dc2-45db4f2dc33e-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/9780ffbb-e886-4b85-9dc2-45db4f2dc33e-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/11\/9780ffbb-e886-4b85-9dc2-45db4f2dc33e-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/130192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=130192"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/130192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=130192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=130192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=130192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}