IndiGo Q3 results: Firm reports loss of Rs 620 crore, revenue dips 50% to Rs 5,143 crore

IndiGo Q3 results: Firm reports loss of Rs 620 crore, revenue dips 50% to Rs 5,143 crore

NEW DELHI: Interglobe Aviation, which runs the low-cost carrier, said it suffered a consolidated loss of Rs 620.14 crore during the December quarter. It had recorded a profit of Rs 556.53 crore in the same quarter last year.

However, the losses were nearly half of Rs 1,194.85 crore in the September quarter as operations normalised during the period.

Total revenue for the company came down by 50.21 per cent year-on-year to Rs 5,142.77 crore from Rs 1,030.17 crore in the year ago quarter.

Ebitda was at Rs 987.1 crore with margin of 20.1 per cent for the quarter, compared to Rs 1,960.7 crore with margin of 19.7 per cent for the same period last year.

“The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilisation are very critical for our return to profitability,” said Ronojoy Dutta, CEO, Interglobe Aviation.

Capacity for the quarter was down by 40.8 per cent compared to the same period last year, the company said, adding, Revenue per Available Seat-Kilometer for the quarter came down to Rs 3.27 from Rs 3.91, a drop of 16.4 per cent YoY.

Fourth quarter fiscal 2021 capacity in Available Seat-Kilometer is expected to be around 75-80 per cent of fourth quarter fiscal 2020 capacity, the company said in a statement.

lndiGo had a total cash balance of Rs 18,365.3 crore comprising Rs 7,444.5 crore of free cash and Rs 10,920.7 crore of restricted cash.

The airline added five new aircraft to its fleet, taking total count to 287 aircraft. It operated a peak of 1,166 daily flights during the quarter.

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