InterGlobe Enterprises, the holding company of the Rahul Bhatia family, is reportedly planning to divest a 2% stake in the low-cost carrier IndiGo through block deals. The transaction involves the sale of 77 lakh shares at a base price of ₹4,266 per share, marking a 7% discount. The total value of the deal is estimated at ₹3,293 crore, according to sources familiar with the matter.
Due to regulatory constraints, Bhatia is restricted from further share sales in the market for at least one year. Despite this divestment, InterGlobe Aviation announced a remarkable profit of ₹8,172 crore for the fiscal year 2024. Additionally, the company reported a net profit of ₹1,894 crore for the fourth quarter, marking its sixth consecutive quarter of profitability.
In the corresponding quarter, InterGlobe Aviation recorded a net profit of ₹919.2 crore, as stated in a regulatory filing. The company’s revenue from operations surged by 26% to ₹17,825.3 crore compared to ₹14,160.6 crore in the corresponding period of the preceding fiscal year.
At the operational level, EBITDAR witnessed a notable surge of 48.7% to ₹4,412.3 crore in the fourth quarter of the fiscal year, compared to ₹2,966.5 crore in the same period last year. The EBITDAR margin for the reporting quarter stood at 24.8%, compared to 20.9% in the corresponding period of the previous fiscal year.
While IndiGo managed to reduce its fuel cost per available seat kilometre (CASK) by 6.9% to ₹1.72, the CASK excluding fuel experienced a 14.7% increase to ₹2.90. Shares of Interglobe Aviation Ltd concluded at ₹4,553, marking a gain of ₹181.65 or 4.16% on the BSE.