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The closure of flight operations has affected the profitability of IndiGo, the Delhi-based low cost airline.
Indigo reported a net loss of Rs 870.8 crore for the quarter that ended on March 31 as against a net profit of Rs 595.8 crore previously.
It has reported a loss of Rs 233.7 crore for the entire fiscal 2020 as compared to a net loss of Rs 157.2 crore in the previous fiscal.
The airline board met on Tuesday to consider the fourth quarter and results for the entire year of 2020.
“In the midst of every crisis, lies great opportunity. At IndiGo we are determined to emerge from this crisis stronger and more energised than ever. We are positioning ourselves to be a stronger brand, to have a more efficient fleet and a lower cost structure,” Ronojoy Dutta, the airline Chief Executive Officer, said in a statement.
For the latest quarter that ended on March this year, total income stood at Rs 8634.6 crore an increase of 4.5 per cent over the same period previously. The airline reported an increase of 1.3 per cent from passenger ticket revenue at Rs 7130.9 crore while ancillary revenues jumped 30.2 per cent to Rs 1075.7 crore from previously.
It reported an EBITDAR of Rs 86.7 crore with an EBITDAR margin of 1 per cent compared to an EBITDAR of Rs 2201.9 crore previously with an EBITDAR margin of 27.9 per cent for the same period previously.
During the full year, IndiGo reported revenue from operations of Rs 35756 crore, an increase of 25.5 per cent over the previous year. The airline reported an EBITDAR of Rs 5082.4 crore with an EBITDAR margin of 14.2 per cent as compared to an EBITDAR of Rs 5226.1 crore and an EBITDAR of 18.3 per cent.
The airline reported a string balance sheet at the end of March this year with Rs 20376.9 crore of total cash including Rs 8928.1 crore free cash.
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