Indigo Q2 loss widens to Rs 1,195 crore, number of flights doubles sequentially  

NEW DELHI:  Airline company InterGlobe Aviation (IndiGo) on Thursday said its loss widened to Rs 1,194.8 crore in the second quarter of the current fiscal (Q2FY21), higher than the loss of Rs 1,062 crore posted in the corresponding quarter of the previous financial year due to the Covid-19 led disruptions. 

Sequentially, the loss more than halved as the number of flights grew nearly two-fold over the April-June quarter. Net loss narrowed from Rs 2,845 crore in the June quarter. Revenue fell 65 per cent on year to Rs 3,029 crore but rose 2.6 times over the previous quarter.

As operations remained shut, the airline’s total expenses fell 55.9 per cent YoY to Rs 4,224.1 crore in Q2FY21 from Rs 9,571.6 crore in Q2FY20. Total debt increased 28.1 per cent YoY to Rs 25,419.4 crore. It had a total cash balance of Rs 17,931 crore, a slight reduction from Rs 18,449.8 crore in the first quarter. EBITDA, or earnings before interest, tax, depreciation, amortisation and rent, came at 408.5 crore, up 59.3 per cent year-on-year.