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Wednesday, September 22, 2021

IndiGo parent clocks highest-ever quarterly loss on 2nd wave hit

The company reported a consolidated net loss of Rs 3,174.20 crore for the June quarter, its highest quarterly loss ever, as against Rs 2,844.3 crore loss reported during the same quarter of the previous year.

By: ENS Economic Bureau | Mumbai |
July 28, 2021 3:25:25 am
The airline’s total revenue rose by 177 per cent during the June quarter to Rs 3,170.25 crore.

InterGlobe Aviation Ltd, which operates the country’s largest domestic airline IndiGo, reported its sixth consecutive quarterly loss during the three-month period ended June due to the impact of second wave of Covid.

The company reported a consolidated net loss of Rs 3,174.20 crore for the June quarter, its highest quarterly loss ever, as against Rs 2,844.3 crore loss reported during the same quarter of the previous year. The airline’s total revenue rose by 177 per cent during the June quarter to Rs 3,170.25 crore.

For the quarter, the airline’s passenger ticket revenues were Rs 2297.6 crore, an increase of 292.5 per cent and ancillary revenues were Rs 668.3 crore, an increase of 296.0 per cent compared to the same period last year

Ronojoy Dutta, CEO at IndiGo, said, “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.”

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