IndiGo operator InterGlobe Aviation on Friday released its fiscal second quarter earnings report with loss during the period at Rs 986.70 crore in comparison to a profit of Rs 188.90 crore recorded during the corresponding quarter of FY24. The loss incurred during the quarter was driven by higher fuel costs and a peak number of groundings, which have now started to reduce, stated the company. It posted revenue from operations at Rs 16,969.60 crore, up 13.6 per cent as against Rs 14,943.90 crore during the same period of previous fiscal year. The company posted EBITDAR at Rs 2,434 crore.
Total income for the quarter ended September 2024 was Rs 17,759.00 crore, up 14.6 per cent over the same period last year. Total expenses for the quarter were at Rs 18666.10 crore, up 21.9 per cent YoY.
For the quarter, IndiGo’s passenger ticket revenues stood at Rs 14,359.20 crore, registering an increase of 9.9 per cent and ancillary revenues were at Rs 1875.00 crore, up 20.9 per cent compared to the same period last year.
IndiGo had a total cash balance of Rs 39341.90 crore comprising Rs 24359.70 crore of free cash and Rs 14982.20 crore of restricted cash. The capitalized operating lease liability was Rs 47779.40 crore. The total debt (including the capitalized operating lease liability) was Rs 59236.90 crore.
Pieter Elbers, CEO, said, “In a traditionally weaker second quarter, results were further impacted by headwinds related to groundings and fuel costs. We have turned the corner as the number of grounded aircraft and associated costs have started reducing. We continue to capitalize on the growth of the Indian market and associated opportunities and at the same time remain a cost leader in this competitive market. It marks a proud moment for us as we launch our business class two weeks from now and offer a new experience to our customers. We are receiving positive response to our recently launched loyalty rewards program – IndiGo BluChip. I would like to extend my gratitude to our 6E family for their continuous efforts in making IndiGo India’s preferred airline and courteously serving 28 million customers during the quarter.”
Network and fleet
As of 30th September 2024, IndiGo recorded fleet of 410 aircraft including 41 A320 CEOs (17 damp lease & 4 secondary leases), 201 A320 NEOs, 112 A321 NEOs, 45 ATRs, 3 A321 freighters, 6 B737 (damp lease) and 2 B777 (damp lease); a net increase of 28 passenger aircraft during the quarter.
IndiGo operated at a peak of 2,161 daily flights during the quarter including non-scheduled flights. Further, it provided scheduled services to 88 domestic destinations and 31 international destinations.
From: financialexpress
Financial News
