IndiGo’s Kapil and Rahul Bhatia lose almost a billion dollars of their combined personal wealth, largely on account of higher fuel prices and a depreciating rupee
Bearish investor sentiments for the Inter Globe Aviation stock saw the father-son duo of Kapil, 86, and Rahul Bhatia, 58, lose almost a billion dollars in their combined personal wealth. Inter Globe Aviation owns and operates India’s largest and most profitable airline, IndiGo. The former is executive chairman while the latter is group managing director of Inter Globe Enterprises, which has a 38 percent stake in Inter Globe Aviation; they are ranked 41 on the 2018 Forbes India Rich List, with an estimated net worth of $3.55 billion. Last year, they were at No 31 with a fortune of $4.4 billion.
This is the first year that the Bhatias have seen their personal wealth fall, after having seen it more than triple from $1.29 billion in 2012 to $4.4 billion last year. Clearly, Inter Globe Aviation’s share price, which fell from 1,250 apiece in September 2017 to about 850 apiece this September, has had a direct impact on their wealth.
While Inter Globe Enterprises has other business interests spanning hospitality, real estate, IT and BPM services, the bulk of Bhatias’ wealth comes from their listed airline entity. IndiGo is arguably among a few highly profitable airlines globally. “But there has been a sharp dip in profitability since January 2018,” says Kapil Kaul, CEO, CAPA South Asia, an independent aviation consulting, research and knowledge practice firm.
On October 24, IndiGo posted a net loss of 652.13 crore for the July to September quarter of FY19 compared to a profit of 551.56 crore a year ago. However, the airline reported revenues of 6,514 crore, an 18 percent growth over the same period a year ago.
Esta historia es de la edición December 28, 2018 (Rich List) de Forbes India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 28, 2018 (Rich List) de Forbes India.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
