Mumbai: Revenue up, loss smaller. The loss is still a loss.
InterGlobe Aviation, which operates IndiGo, reported a consolidated loss of ₹1,879.1 crore for the September quarter, against ₹2,582.1 crore in the same quarter last year. Revenue rose 25.9% to ₹23,363.8 crore from ₹18,555.3 crore. It is the airline's third consecutive quarterly loss.
One operating number improved. EBITDAR rose 121% to ₹2,460 crore and its margin expanded to 10.5% from 6%. A large part of the loss is a foreign exchange hit of ₹1,333 crore.
On the same day the picture elsewhere was inverted. Coal India's consolidated profit for the quarter rose 53% to ₹6,516.1 crore from ₹4,258.8 crore, on revenue of ₹44,178.7 crore, up 20.9% from ₹36,553.1 crore. It beat Street estimates and declared a dividend.
Suzlon Energy reported 26% revenue growth after quarterly deliveries of 710 MW. Vedanta Power returned to profit. Asian Paints missed profit expectations.
Trent was the Sensex's biggest loser on Thursday, down 1.44%, and the reason was separate from the numbers. Noel Tata is set to step down as the retailer's chairman, ending nearly three decades of involvement during which it grew from a single Westside store into a network of more than 1,300 outlets.
Friday's session belongs to the heavyweights. Reliance Industries, Jio Platforms, Sun Pharma, Bharat Electronics, Bank of Baroda and Indian Oil report results, alongside India's foreign exchange reserves data and the HSBC Manufacturing Purchasing Managers' Index.
Two policy threads are also running. The Supreme Court has raised concerns over the autonomy and functioning of the National Company Law Tribunal and the National Company Law Appellate Tribunal, calling for modernisation amid infrastructure and staffing constraints. And Congress leader Rahul Gandhi has questioned the proposed sale of a majority stake in IDBI Bank.