Interglobe Aviation and Jubilant FoodWorks post their quarterly results.
Trends on SGX Nifty indicated a positive opening for the Indian Market. Indian Indices were off to a green start. The Sensex was up 1.26% at 34273.55, while the Nifty was higher by 1.31% at 10280.20.
Interglobe Aviation Ltd which owns Indigo Airlines posted its first-ever net loss of Rs 652.13 crore since its stock market debut in November 2015. Revenue rose 18.32% (year-on-year) to Rs 6,514.20. The airline carried a total of 145.42 lakh domestic passengers in the September quarter, up from 110.42 lakh a year ago, according to government data.
Rising jet fuel prices, currency depreciation, lower yields, and a foreign exchange loss outweighed higher passenger traffic. IndiGo reported a 58.2% increase in total expenses, fuel expenses surged 84.3% to Rs 3,035 crore while foreign exchange loss stood at Rs 335.4 crore, all year-on-year basis.
“Despite the difficult environment, IndiGo remains well-positioned thanks to our low-cost structure and strong balance sheet.” Rahul Bhatia, interim chief executive officer, said. IndiGo added 20 planes in this quarter, taking the total count of aircraft in its fleet to 189. There was a block deal of 113,681 shares bought on NSE at 9:19 AM. Shares of the low-cost carrier closed up 0.97 %.
Jubilant FoodWorks, the operator of Domino’s Pizza in India, reported a 60% year-on-year rise in Q2 profit at Rs 77.7 crore. Its total income was up by 22 % at Rs 892.19 crore year-on-year.
Jubilant reported same-store sales growth of 20.5 % for the quarter under review. Domino’s Pizza added 24 stores, taking the total store count to 1,167.
“Growth was driven by a strong and sustained momentum in delivery orders. In particular, our digital focus showed good results with strong online sales growth, enabled by the new Domino’s App garnering strong user ratings and having a slew of innovative features,” JFL CEO Pratik Pota said.
The company also declared a dividend of Rs 2.5 per share. Its shares closed 0.50 % lower today compared to yesterday’s close.
As the trading session progressed, the Benchmark indices wiped-out all its morning gains when Nifty slipped below 10,150 level at 2 pm IST. Strong buying in the last hour boosted the market and helped recover its loses. Nifty closed 0.77% higher at 10224.80 while Sensex was up 0.55% at 34033.96.
With the earnings season on, and Diwali approaching, seasonality and global cues will have an important role to play in the market’s movement in the subsequent months.
Virat Kohli crossed 10000 today, let’s see if Nifty will too from the other side
