Low-cost airline IndiGo has reported a net loss of ₹ 652.1 crore for the quarter ended September 2018. The airline had reported a net profit of ₹551.6 crore during the same period previously.
“Aviation in India is facing significant pressure from high fuel costs, rupee depreciation and intense competition, all of which have impacted our profitability this quarter,” the company founder and interim Chief Executive Officer, Rahul Bhatia, said.
In a statement to the BSE after its board meeting, the airline said that revenue from operations stood at ₹ 6,185.3 crore for the quarter ended September this fiscal, an increase of 16.9 per cent, compared to the same period previously.
The airline has reported an EBITDAR or earnings before interest, taxes, depreciation, amortisation and rent /restructuring of ₹220.4 crore with an EBITDAR margin of 3.6 per cent for the quarter ended September this fiscal compared to an EBITDAR of ₹1581.1 crore with an EBITDAR margin of 29.9 per cent in the same period previous fiscal.
Total income for the quarter stood at₹ 6,514.2 crore, an increase of 18.3 per cent, over the same period last year. The airline has reported a passenger ticket revenue of ₹5285.2 crore, an increase of 17.2 per cent,while it has reported an 12.8 per cent increase in ancillary revenues at ₹716.7 crore.
The statement added that the company has a strong balance sheet with total cash reserves of ₹13,163.7 crore, including free cash of ₹4,417.5 crore and ₹ 8,746.2 crore of restricted cash, as on Septmber 30 this year.
Total debt as of September 30, 2018 stood at ₹ 2,641.1 crore. "The entire debt for IndiGo is aircraft related. IndiGo does not have any working capital debt,” the statement addéd.