Terming it as a historically weak quarter for Indigo, India's Low-Cost Carrier posted a net loss of Rs 1,062 crore for the quarter ended September 2019.
"While our revenue performance was much better during thequarter, the losses were accentuated by forex losses on operating leaseliabilities created under IND AS 116 and re-assessment of accrual estimates forfuture maintenance cost," Dutta added.
In the said quarter, the company had to bare total expenses worthRs 95,716 crore which lead to an increase of 27.6 per cent on a YoY basis. Costper Available Seat Kilometers (CASK) excluding fuel increased by 17.2 per cent in comparison to thesame time last year.
As of Q3 FY20, IndiGo had a total cash of book worth Rs 18,736crore. Besides the restricted cash, Indigo has free case of Rs 8,706 crore.According to the airline, IndiGo is continuing to generate healthy cash.
Post servicing of debt and lease obligations, IndiGo generated Rs33,340 crore through its operating activities for the first half of FY20. Thecapitalized lease liability as of September 30 was Rs 17,464 crore. Accordingto IndiGo, the total debt which includes the capitalized lease liability was Rs1,98,418 crore.
Indigo has a fleet size of 245 aircraft, during the quarter, theairline added 10 aircraft. The no-frill airline operated a “peak” of 1,476daily flights including international operations during the quarter, yet, hadmade a net loss.
According to Indigo’s statement, in a YoY basis, Indigo in the Q3 ofFY 20 available seat kilometres (ASK) capacity increase is expected to be 22. Overall, ASKs is expected tobe 25 per cent.
“Weremain focused on our growth plans and are expanding both domestically andinternationally. We added 7 new domestic destinations and 6 new internationaldestinations this past quarter and are looking to further grow our networkprofitably," Dutta added.