Home Stock Market InterGlobe Aviation Q2 results: Net loss widens to Rs 1,195 crore

InterGlobe Aviation Q2 results: Net loss widens to Rs 1,195 crore


InterGlobe Aviation, the parent company of India’s largest airline IndiGo, on Thursday, reported a net loss of Rs 1,194.80 crore for the quarter ended September 30, compared with a loss of Rs 1,062 a year ago.

The airline’s total income declined 64.50 per cent YoY to Rs 3,029.2 crore, while EBITDA increased 59.30 per cent to Rs 408.50 crore.

“For the quarter, our passenger ticket revenues were Rs 2,208.2 crore, a decrease of 68.9 per cent and ancillary revenues were Rs 506.6 crore, a reduction of 45.5 per cent compared to the same period last year,” the company said.

As of September 30, IndiGo had a total cash balance of Rs 17,931.8 crore, comprising Rs 6,973.4 crore of free cash and Rs 10,958.4 crore of restricted cash. The capitalised operating lease liability was Rs 22,931.9 crore and the total debt was at Rs 25,419.4 crore.

Ronojoy Dutta, CEO, InterGlobe Aviation, said, “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.”