Airline blames high fuel cost, rupee fall and intense competition as factors behind impact on profitability
InterGlobe Aviation, which operates IndiGo, reported a net loss of Rs 651.2 crore for the September quarter, a sharp fall from Rs 551.5 crore reported during the same period of last year.
Its revenues rose to Rs 6,185.31 crore, up 17 percent from Rs 5,290.9 crore reported during the corresponding quarter of last year.
The airline reported a fall of 86 percent in its earnings before interest, taxes, depreciation, amortization and rent (EBITDAR) at Rs 220.4 crore against Rs 1,581.1 crore year on year.
Fuel cost jumped 84.30 percent to Rs 3,035.5 crore in Q2FY19. It was Rs 1,647.30 crore in Q2FY18.
The EBITDAR margin has been reported at 3.6 percent, a fall from 29.9 percent last year.
The carrier also said that there was a tax credit of Rs 336 crore against an expense of Rs 213 crore in the previous year.
The airline blamed high fuel cost, rupee depreciation and intense competition to impact profitability. It said that the yield stood at Rs 3.21 per kilometer against RS 3.56 per kilometer.
Network and fleet
The company reported a fleet of 189 aircraft including 127 A320ceos, 50 A320neos and 12 ATRs; a net increase of 20 aircraft during the quarter.
Operated a peak of 1,294 daily flights, including international operations during the quarter
Service to 57 destinations including 9 international cities; added 4 domestic and 1 international destination during the quarter
Future capacity growth
Third quarter fiscal 2019 year over year capacity increase in ASKs (available seat kilometers) is expected to be 35%
Full year fiscal 2019 year over year capacity increase in ASKs is expected to be 30%
