IndiGo reports net loss of Rs3174.2cr; second wave of Covid-19 significantly impacted revenue in Q1

Revenue from Operations of INR 30,069 million for the quarter, an increase of 292.2% compared to the same period last year

Jul 27, 2021 06:07 IST India Infoline News Service

Indigo-Airlines
InterGlobe Aviation Ltd. (IndiGo) today reported its first quarter fiscal year 2022 results. The airline company posted a net loss of Rs3174.2cr in Q1FY22 as against compared to loss before tax of Rs2842.6cr for the same period last year.

Capacity for the quarter up by 433.2% compared to the same period last year. Revenue from Operations of INR 30,069 million for the quarter, an increase of 292.2% compared to the same period last year, IndiGo said in the filing.

Negative EBITDAR of INR 13,602 million with EBITDAR margin of negative 45.2% for the quarter, compared to negative EBITDAR of INR 14,212 million with EBITDAR margin of negative 185.4% for the same period last year.

Basic earnings per share was negative INR 82.47 for the quarter.

Strong balance sheet with a total cash of INR 170,679 million including free cash of INR 56,207 million. Given the current cash position, the Company continues to evaluate the timing and the size of any QIP.

Mr. Ronojoy Dutta, CEO, IndiGo said, “Our financial results for the first quarter were severely impacted by the second covid wave. The number of passengers traveling declined sharply in the months of May and June. With the second covid wave receding, we are seeing a measured recovery in bookings for July and August. Notwithstanding the Industry’s present challenges, we remain firmly optimistic about IndiGo’s future. Our entire focus during this pandemic has been to manage our cash balances, run a highquality airline and to continue to build our capabilities and be prepared for the post covid environment.”

Revenue and Cost Comparisons Total income for the quarter ended June 2021 was INR 31,703 million, an increase of 177.2% over the same period last year. For the quarter, our passenger ticket revenues were INR 22,976 million, an increase of 292.5% and ancillary revenues were INR 6,683 million, an increase of 296.0% compared to the same period last year.

Interglobe Aviation Ltd ended at Rs1,706.80 down by Rs32.75 or 1.88% from its previous closing of Rs1,739.55 on the BSE.

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