Indigo stock plunges 2% as Q2 net loss widens to Rs1,195cr; Passenger Ticket revenue drops 69% yoy

As of September 2020, Indigo has a total cash balance of Rs17,931.8cr.

Oct 30, 2020 03:10 IST India Infoline News Service

The parent company of India's largest airline Indigo in terms of market share, Interglobe Aviation's net loss widened to Rs1,194.80cr for the quarter ended September 2020 (Q2FY21) against a loss of Rs1,062cr posted a year ago same period. On Sensex, the parent's stock has plunged to an intraday low of Rs1296.75 per piece resulting in nearly 3% drop so far.

At around 3.03 pm, Indigo stock trades at Rs1309.20 per piece down Rs22 or 1.65% on Sensex.

In the quarter, Indigo's total income stood at Rs3,029.2cr, a decrease of 64.5% over the same period last year. For the quarter, Indigo's passenger ticket revenues were Rs2,208,2cr declining by 68.9% yoy and ancillary revenues were Rs506.6cr was recorded with a drop of 45.5% yoy.

Indigo's CEO, Ronojoy Dutta said, "We are pleased that we are slowly but surely stair-stepping our way back to normal capacity. While we are very much focused on managing the crisis of the present, we are also reimagining the promise of the future. Once we are back at 100 per cent capacity, we will have lower unit costs, a stronger product, a more efficient fleet and a robust network. We are impatient for the arrival of the future."

For the quarter, Indigo registered total expenses of 
Rs4,224.1cr, a decrease of 55.9% over the same quarter last year.

As of September 2020, Indigo has a total cash balance of Rs17,931.8cr which comprises of Rs6,973.4cr of free cash and Rs10,958.4cr of restricted cash.

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