IndiGo’s Q2 loss stads at Rs 1,194 cr

InterGlobe Aviation, which runs airline major IndiGo, on Thursday posted a quarterly net loss of Rs 1,194.8 crore for the second quarter of 2020-21.

The company had posted a net loss of Rs 1,062 crore in the like period of the previous fiscal.

According to the company, its total income for the quarter declined to Rs 3,029.2 crore, down 64.5 per cent over the same period last year.

In the quarter, passenger ticket revenues declined to Rs 2,208.2 crore, a decrease of 68.9 per cent and ancillary revenues went down to Rs 506.6 crore, a reduction of 45.5 per cent compared to the same period last year

Total expenses for the quarter also declined to Rs 4,224.1 crore, a decrease of 55.9 per cent over the same quarter last year.

Besides, IndiGo said that it had a total cash balance of Rs 17,931.8 crore as on the September 30, comprising Rs 6,973.4 crore of free cash and Rs 10,958.4 crore of restricted cash.

“We are pleased that we are slowly but surely stair-stepping our way back to normal capacity. While we are very much focused on managing the crisis of the present, we are also reimagining the promise of the future,” CEO Ronojoy Dutta said.

“Once we are back at 100 per cent capacity, we will have lower unit costs, a stronger product, a more efficient fleet and a robust network. We are impatient for the arrival of the future.”

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