Interglobe Aviation stock hits new all-time high despite Q4 loss widening to Rs1,147.2cr

Revenue from Operations of Rs6,222.9cr, a decrease of 25% compared to the same period last year.

Jun 07, 2021 01:06 IST India Infoline News Service

Interglobe Aviation (Indigo) stock witnessed lacklustre demand on Thursday after the company announced its financial performance for the March 2021 (Q4FY21) quarter. In the latest quarter, Indigo's net loss widened to Rs1,147.2cr compared to a net loss of Rs870.8cr in the same period last year.  Revenue from Operations of Rs6,222.9cr, a decrease of 25% compared to the same period last year.

EBITDAR was at Rs648.3cr with an EBITDAR margin of 10.4% in Q4FY21 compared to EBITDAR of Rs86.7cr with an EBITDAR margin of 1.0% for the same period last year.

Indigo  CEO, Ronojoy Dutta said “This has been a very difficult year with our revenues slumping hard due to covid, showing some signs of recovery during the period December to February and then slumping again with the second wave of the covid. While we have seen a sharp decline in revenues in March through May, we are encouraged by the modest revenue improvements starting last week of May and continuing through June."

Dutta added, "We see this pandemic as a period of great trial for both our shareholders and our employees. We are focusing all our efforts and all our energies to strengthen the foundations and the pillars of IndiGo so that we emerge from this trial significantly stronger structurally and even more customer responsive than ever before. While we have produced disappointing financial results this year, we have also positioned ourselves to be the best-in-class airline when the inevitable recovery finally arrives.”

As of March 2021, IndiGo had a total cash balance of Rs18,568.5cr comprising of Rs7,099.7cr of free cash and Rs11,468.8cr of restricted cash.

At around 1.25 pm, Indigo was trading at Rs1753.95 per piece marginally up compared to the previous closing on Sensex. The stock has touched a new all-time high of Rs1850.65 per piece in the early deals of Monday. 

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