IndiGo Q4 results: Net loss widens to Rs 1,147 crore

Mumbai: , which runs the airline IndiGo, said its quarterly net loss jumped to a high of Rs 1,147 crore in the Jan-March quarter from Rs 871 crore a year earlier as the second deadly wave of Covid19 infections, battered demand.

The airline’s revenue for the quarter fell 25% to Rs 6,223 crore.

“This has been a very difficult year with our revenues slumping hard due to Covid, showing some signs of recovery during the period December to February and then slumping again with the second wave of the Covid,” said the airline’s CEO Ronojoy Dutta.
“While we have seen a sharp decline in revenues in March through May, we are encouraged by the modest revenue improvements starting last week of May and continuing through June. We see this pandemic as a period of great trial for both our shareholders and our employees,” he added.

For the full fiscal year FY21, the airline plunged to a net loss of Rs 5,806 crore from a net profit of Rs 233 crore the previous fiscal.

As of March 31, the airline had a cash balance of Rs 18,569 crore and total debt of Rs 29,860 crore on its books.