Friday, January 29, 2021

IndiGo Reports Net Loss Of ₹ 620.1 Crore In December Quarter

Interglobe Aviation Limited, which operates the country's biggest airline IndiGo, reported its fourth consecutive quarterly loss on Thursday, January 28, as the COVID-19 pandemic kept air travel well below normal levels. The company reported a net loss of ₹ 620.1 crore in the October-December quarter, as compared to a profit of ₹ 490 crore registered in the year-ago period. The revenue from operations declined 50.6 per cent to ₹ 4,910 crore, according to the company's regulatory filing on the BSE. (Also Read: IndiGo Posts Record Quarterly Loss Of ₹ 1,195 Crore On Pandemic Hit )

The quarterly result was an improvement from the previous two quarters when IndiGo had reported much bigger losses as the pandemic brought a halt to global travel. The country saw stronger levels of domestic travel during the festive season in October and November, according to analysts quoted in a Reuters report. IndiGo also benefited from lower fuel costs. The airline's fuel expenses plunged nearly 66 per cent year-over-year in the quarter.

IndiGo said that the capacity for the quarter went down by 40.8 per cent as compared to the year-ago period. The EBITDAR (earnings before interest, tax, depreciation, amortisation, and rent costs) loss stood at ₹ 987.1 crore as against ₹ 1,960.7 crore in the third quarter of the current financial year, registering a year-on-year decline of 49.7 per cent. The EBITDAR margin was at 20.1 per cent for the quarter, compared to 19.7 per cent for the same period last year.

28/01/21  Nikita Prasad/Reuters/NDTV

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