IndiGo Q4 net loss widens to Rs 1682 cr

26 May 2022 , 10:07 AM

Excluding foreign currency loss of Rs 612.34, net loss for the quarter aggregated to Rs 1069.50 crore. InterGlobe Aviation (IndiGo)s net sales rose 28.89% to Rs 8020.75 crore in Q4 March 2022 over Q4 March 2021. Pre-tax loss stood at Rs 1,677.51 crore in Q4 March 2022 as against pre-tax loss of Rs 1,157.51 crore in Q4 March 2021. There was an increase in number of passengers by 10.3% compared to the same period last year. A yield improvement of 19.2% and a RASK (revenue per available seat basis), improvement of 21.7% drove improved revenue performance compared to the same period last year. CASK (cost of available seat kilometre) ex fuel increased by 12% compared to the same period last year primarily due to weakening of currency. Durign the quarter, earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) stood at Rs 171.80 crore with EBITDAR margin of 2.1%, compared to EBITDAR of Rs 648.30 crore with EBITDAR margin of 10.4% for the same period last year. Total expenses rose 40.76% year-on-year to Rs 7982.86 crore. Aircraft fuel expense stood at Rs 3220.58 crore (up 68.22%) and employee benefits expenses stood at Rs 929.88 crore (down 14.87%). For the quarter, Indigos passenger ticket revenues were Rs 6884.70 crore, an increase of 38.4% and ancillary revenues were Rs 1058.30 crore, an increase of 18.8% compared to the same period last year. For the full year, net loss stood at Rs 6161.85 crore in the year ended March 2022 as against net loss of Rs 5806.43 crore in the year ended March 2021. Net sales rose 77.12% to Rs 25930.93 crore in the year ended March 2022 over the year ended March 2021. The companys CEO, Ronojoy Dutta said, This quarter has been difficult because of the demand destruction caused by the Omicron virus in the first half. Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee. We believe IndiGo is best positioned to maximise revenue in a recovering market. As we work to return the airline to profitability, we are focused on maintaining our cost leadership position and continuing to build the most efficient network in the region. IndiGo had a total cash balance of Rs 18227.50 crore comprising Rs 7763.20 crore of free cash and Rs 10464.40 crore of restricted cash. The capitalized operating lease liability was Rs 31665.60 crore. The total debt (including the capitalized operating lease liability) was Rs 36877.80 crore. IndiGo is amongst the fastest growing low-cost carriers in the world. IndiGo As of 31st March 2022, Indigos fleet comprised 275 aircraft including 41 A320 CEOs, 143 A320 NEOs, 56 A321 NEOs and 35 ATRs: a net reduction of 8 aircraft during the quarter. IndiGo operated at a peak of 1,577 daily flights during the quarter including non-scheduled flights. During the quarter, provided scheduled services to 73 domestic destinations and 15 international destinations. Shares of IndiGo surged 5.60% to Rs 1737.20 on the BSE. Powered by Capital Market – Live News