Last Updated: July 28 2021
Domestic budget carrier Interglobe Aviation Limited on Tuesday posted a consolidated year-on-year net loss of ₹3174.17 crore in the quarter ended 30 June, 2021.
In the corresponding quarter last year, the company posted a net loss of Rs 2,844 crore.
The company’s revenue from operations during the June quarter stood at Rs 3,007 crore, up 292 percent, from Rs 766.7 in the year-ago quarter. It also saw a 59% rise in total expenses in the quarter to ₹6,344 crore.
Capacity for the quarter was up by 433.2% compared to the same period last year, the airline said.
As of June 30, 2021, the low-cost carrier has a fleet of 277 aircraft including 85 A320ceos, 122 A320neos, 41 A32l neos and 29 ATRs.
IndiGo operated a peak of 1,262 daily flights including charter flights during the quarter. During the quarter, the airlines provided scheduled services to 66 domestic destinations and various international locations through passenger charters and air bubble flights.
Ronojoy Dutta, the CEO, said, “Our financial results for the first quarter were severely impacted by the second covid wave. The number of passengers traveling declined sharply in the months of May and June.”
“With the second covid wave receding, we are seeing a measured recovery in bookings for July and August. Notwithstanding the Industry’s present challenges, we remain firmly optimistic about IndiGo’s future. Our entire focus during this pandemic has been to manage our cash balances, run a high-quality airline and continue to build our capabilities and be prepared for the post covid environment,” he said.
Shares of Interglobe Aviation Limited on BSE closed 1.40% lower at ₹1,716 apiece on Tuesday.
News Source : https://www.moneycontrol.com/news/business/earnings/indigo-q1-results-losses-widen-to-rs-3174-2-crore-in-q1-second-covid-19-wave-weighs-heavy-7234221.html