IndiGo Q2 results: Net loss widens on-year but revenue doubles

MUMBAI: , which operates India's largest airline IndiGo, reported a net loss of Rs 1,435.7 crore for the quarter ended September 2021 as against a net loss of Rs 1,194.8 crore in the year-ago quarter.

However, the company’s revenue from operations surged 104.6 per cent year-on-year (YoY) to Rs 5,608.5 crore on a surge in demand for air travelling during the quarter. The stellar revenue performance has come on the back of only 78 per cent capacity utilisation by the company.

The airline saw a considerable improvement in yield per kilometer during the quarter, which rose 9.6 per cent on- year. However, higher fuel costs meant IndiGo’s EBITDAR fell 16.6 per cent year-on-year to Rs 340.8 crore.

Fuel costs in the quarter spiked 207.8 per cent YoY to Rs 1,989.4 crore as global crude oil prices soared over the past few months. Even other costs excluding fuel rose by 46.6 per cent on-year to Rs 5,245 crore.

IndiGo said it had total cash balance of Rs 16,553 crore, including Rs 6,351.6 crore of free cash and Rs 10,202.3 crore of restricted cash.

Shares of the company ended 0.5 per cent higher at Rs. 2,021 on the National Stock Exchange.