Companies

IndiGo clocks net loss of ₹1,436 crore in Q2

Our Bureau New Delhi | Updated on October 28, 2021

Total income more than doubled to ₹5,799 crore but expenses rose by 71 per cent

InterGlobe Aviation Limited on Thursday reported net loss of around ₹1,436 crore in the quarter ended September 30, 20 per cent higher than net loss in the corresponding period last fiscal, but just half of the previous quarter’s.

InterGlobe Aviation operates airlines under the brand name of IndiGo and has a market share of over 56 per cent. Its revenue from operations crossed ₹5,600 crore against ₹2,741 crore. Other income of ₹190 crore took its total income to nearly ₹5,799 crore. However, expenses rose to ₹7,234 crore from ₹4,224 crore and expenditure on fuel almost tripled to nearly ₹1,989 crore.

Also see: Working with petroleum ministry, Shell, Honeywell UOP on sustainable aviation fuel: IndiGo CEO

“We are encouraged by the pace of revenue recovery. We continue to work towards return to profitability in order to strengthen our balance sheet. With a modern fleet, dedicated employees and a stronger economic environment, we are well positioned to leverage all the growth opportunities around us,” Ronojoy Dutta, Chief Executive Officer of IndiGo, said.

As of 30th September, IndiGo has 279 aircrafts with a net increase of 2 aircrafts during the quarter. It operated a peak of 1,209 daily flights and a minimum of 759 flights during the quarter including non-scheduled flights. It provided scheduled services to 69 domestic destinations and various international locations through passenger charters and air bubble flights.

Published on October 28, 2021

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