Quarterly results forecast: IndiGo likely to post a profit; SpiceJet may slip into loss
Industry watchers say IndiGo may eke out a small profit in the September quarter, but SpiceJet will likely post a loss, with the estimate varying widely between INR100 crore and INR490 crore. While IndiGo largely gains on fuel prices, SpiceJet will be hit because of rapid expansion with old Jet Airways planes and grounded MAX planes.
(From left) Ajay Singh of SpiceJet and Rahul Bhatia of IndiGo; courtesy of BCCL and Getty Images
Last year, India’s three listed airlines had entered the second quarter with gloom written all over their boardrooms. While Jet Airways and SpiceJet had announced first-quarter losses to the tune of nearly INR1,323 crore and INR38 crore, respectively, IndiGo’s profit had slipped 97% to INR28 crore from a year-ago period. On cue, the second quarter, which is traditionally lean
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around INR120 now — a rise of nearly 70% — valuing the 111-plane airline at INR8,400 crore. IndiGo’s stock has more than doubled from INR831 to INR1,724 — a jump of 107% — valuing the 247-plane airline at a whopping INR66,000 crore. And the company’s next target will be to pull off a sober Q3 despite an economic slowdown.
Last year, India’s three listed airlines had entered the second quarter with gloom written all over their boardrooms. While Jet Airways and SpiceJet had announced first-quarter losses to the tune of nearly INR1,323 crore and INR38 crore, respectively, IndiGo’s profit had slipped 97% to INR28 crore from a year-ago period. On cue, the second quarter, which is traditionally lean
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around INR120 now — a rise of nearly 70% — valuing the 111-plane airline at INR8,400 crore. IndiGo’s stock has more than doubled from INR831 to INR1,724 — a jump of 107% — valuing the 247-plane airline at a whopping INR66,000 crore. And the company’s next target will be to pull off a sober Q3 despite an economic slowdown.
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The pharma company has robust financials and a decent corporate-governance record, but the cherries on the cake are four big brands, which account for 80%-85% of the company’s domestic formulations business. The game changer for KKR will be to leverage its connections and create lucrative revenue streams beyond the big four.
The timing of the move, amid the ruins of the pandemic, is certainly intriguing. Is it a natural business progression to finally becoming a real marketplace, or is it the struggle to conserve cash and remain relevant in these tough times? Perhaps both. Founder Rajesh Yabaji says “road to recovery is steep” for logistics. It’s bad news for the economy.
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