IndiGo registers loss of Rs 1062 crore in September quarter
October 25, 2019: Indigo, the largest domestic airline in India, reported a loss of Rs 10,620 million and EBITDAR of Rs 2,564 million during the June-September quarter due to high maintenance costs of aged aircrafts and mark-to-market losses.
October 25, 2019: Indigo, the largest domestic airline in India, reported a loss of Rs 10,620 million and EBITDAR of Rs 2,564 million during the June-September quarter due to high maintenance costs of aged aircraft and mark-to-market losses. The financial results of the second quarter were approved by the board directors of InterGlobe Aviation Limited on Thursday. The profitability of the airlines was significantly impacted by the mark-to-market losses on capitalized operating leases of Rs 4,282 million and higher maintenance cost of Rs 3,190 million.
The airline has also registered the total income of Rs 85,398 million, an increase of 31.1 percent over the same period last year on a capacity growth of 24.2 percent. The passenger ticket revenues were Rs 71,008 million, an increase of 34.4 percent and ancillary revenues were INR 9,302 million, an increase of 29.8 percent compared to the same period last year.
Ronojoy Dutta, CEO, IndiGO, said "In a historically weak quarter, we registered a negative profit before tax margin of 12. 7% compared to 16% margin loss registered in the same quarter last year. While our revenue performance was much better during the quarter, the losses were accentuated by forex losses on operating lease liabilities created under IND AS 116, and re-assessment of accrual estimates for future maintenance cost. We remain focused on our growth plans and are expanding both domestically and internationally. We added 7 new domestic destinations and 6 new international destinations this past quarter and are looking to further grow our network profitably."