On a consolidated basis, Interglobe Aviation (Indigo) reported net loss of Rs 620.14 crore in Q3 December 2020 compared with net profit of Rs 495.97 crore in Q3 December 2019.
Revenue from operations tumbled 50.56% to Rs 4,909.98 in Q3 December 2020 compared to Rs 9,931.68 crore in Q3 December 2019. Pre-tax loss for the quarter stood at Rs 623.13 crore as against pre-tax profit of Rs 556.53 crore in Q3 December 2019. The result was declared after trading hours today, 28 January 2020.
The airline company posted a 49.7% drop in EBITDAR to Rs 987.10 crore in Q3 December 2020 from Rs 1,960.70 in Q3 December 2019. EBITDAR margin improved to 20.1% in Q3 December 2020, from 19.7% registered in the same period last year.
Capacity for the quarter declined by 40.8% compared to the same period last year. Operationally, available seat-kilometer (ASK) and revenue passenger-kilometer (RPK) decline by 40.8% and 51.3% year-on-year (Y-o-Y). RASK (revenue per available seat kilometre) skid 16.4% Y-o-Y to Rs 3.27 million while the CASK (cost per available seat-kilometre) declined 0.4% Y-o-Y to Rs 3.68 million in Q3 FY21.
The load factor slipped 15.6 basis points to 72% in Q3 FY21 from 87.6% in Q3 FY20. Passenger load factor, or load factor, measures the capacity utilization of public transport services like airlines, passenger railways, and intercity bus services. It is generally used to assess how efficiently a transport provider fills seats and generates fare revenue.
In the fourth quarter fiscal 2021, capacity in ASKs is expected to be around 75-80% of fourth quarter fiscal 2020 capacity.
Ronojoy Dutta, the chief executive officer (CEO) of Interglobe Aviation (Indigo), said: "The high level of consumer confidence in our product has indeed been heartening and we are glad to be making graduated and measured steps to a full recovery. We look forward to a gradual opening up of international scheduled flights during the next few months because increased capacity and aircraft utilization are so very critical for our return to profitability. We had promised to come out of the crisis stronger than we went in and with the full commitment of all our employees, we are beginning to deliver on that promise."
IndiGo had a total cash balance of Rs 18,365.30 crore comprising Rs 7,444.50 crore of free cash and Rs 10,920.70 crore of restricted cash. The capitalized operating lease liability was at Rs 24,557.90 crore. The total debt (including the capitalized operating lease liability) stood at Rs 27,726.10 crore.
Shares of the low-cost carrier rose 0.04% to Rs 1,590 on Thursday. IndiGo is amongst the fastest growing low cost carriers in the world. It had a fleet of 287 aircraft as of 31 December 2020.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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