New Delhi: Rakesh Gangwal, the co-founder of InterGlobe Aviation, sold 2.3 crore shares or 6% equity of IndiGo’s parent company, at an average price of Rs 4,760 per share, media reports stated on Thursday morning. The bulk deal is worth Rs $1.3 billion i.e., Rs 11,000 crore. IndiGo shares were trading at Rs 4,826 apiece at 9:47 am on August 29, 2024.
As of June 2024-end, Gangwal and his various entities had around 20 per cent stake in InterGlobe Aviation, the BSE data showed.
In its Q1 2024-25 Results, InterGlobe Aviation mentioned that IndiGo continued the growth path and reported a total income of Rs 202.5 billion with a net profit of Rs 27.3 billion.
IndiGo Q1 2024-25 Results
For the quarter ended June 30, 2024, InterGlobe stated that its capacity increased by 1 per cent to 36.3 billion, while passengers increased by 6.2 per cent to 8 million.
The airline company reported its Revenue from Operations jumped 3 per cent to Rs 195,707 million. The Fuel CASK surged by 10.5 per cent to Rs 77, while the CASK ex fuel increased by 1% to Rs 2.86 in the quarter ending June, it mentioned.
EBITDAR stood at of Rs 58,111 million (29.7% EBITDAR margin), compared to EBITDAR of rs 52,108 million (31.2% EBITDAR margin) in the first quarter of 2023-24.
Excluding foreign exchange loss, profit amounted to Rs 27,863 million compared to profit of Rs 29,745 million. Net profit of Rs 27,288 million, compared to net profit of Rs 30,906 million.
Revenue and Cost Comparisons
Total income for the first quarter of 2024-25 was Rs 202,489 million, an increase of 18.0 per cent as compared to the same quarter of the previous financial year. For the quarter, passenger ticket revenues were recorded at Rs 165,019 million, an increase of 10.0% and ancillary revenues were Rs 17,634 million, an increase of 13.9 per cent compared to the same period last year.
Particulars (INR mn)
Jun‘24
Jun‘23
Change
Revenue from operations
195707
166831
17.30%
Other income
6782
4778
41.90%
Total income
202489
171609
18.00%
RASK* (INR)
5.4
5.12
5.50%
Yield (INR/Km)
5.24
5.18
1.30%
Rakesh Gangwal, the co-founder of InterGlobe Aviation, sold 2.3 crore shares or 6% equity of IndiGo’s parent company, at an average price of Rs 4,760 per share. The bulk deal is worth Rs $1.3 billion i.e., Rs 11,000 crore. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
