IndiGo’s Q2FY22 YoY net loss widens by 20%

Delhi, Oct 28 (SocialNews.XYZ) Airline major IndiGo's net loss widened by 20.2 per cent in Q2FY22 on a year-on-year basis. Accordingly, the net loss widened to Rs 1,435.7 crore from Rs 1,194.8 crore in the year-ago quarter.

However, the airline's net loss declined by 54.8 per cent on a sequential basis. Besides, the revenue from operations rose by 104.6 per cent to Rs 5,608.5 crore from Rs 2,741 crore earned during the corresponding quarter of the previous quarter.

Besides, the total income for the quarter ended September 2021 increased by 91.4 per cent to Rs 5,798.7 crore over the same period last year. "We are encouraged by the pace of revenue recovery. We continue to work towards a return to profitability in order to strengthen our balance sheet," IndiGo's CEO Ronojoy Dutta said.

"With a modern fleet, dedicated employees and a stronger economic environment, we are well positioned to leverage all the growth opportunities around us."

According to IndiGo, it had a total cash balance of Rs 16,553.9 crore comprising Rs 6,351.6 crore of free cash and Rs 10,202.3 crore of restricted cash.

"The capitalised operating lease liability was Rs 275,626 million. The total debt (including the capitalized operating lease liability) was Rs 323,353 million."

As of September 30, 2021, the airline's fleet comprised 279 aircraft including 72 A320 CEOs, 130 A320 NEOs, 44 A321 NEOs and 33 ATRs; a net increase of 2 aircraft during the quarter.

"IndiGo operated a peak of 1,209 daily flights and a minimum of 759 flights during the quarter including non-scheduled flights."

Source: IANS