Budget airlines IndiGo reports net loss of Rs 1,583.33 cr in Sept quarter

The parent company of budget carrier IndiGo, Interglobe Aviation Ltd, November 4 reported a net loss of Rs 1,583.33 crore in the second quarter of the fiscal year 2022-23 (Q2 FY23), which is slightly more than the Q2 FY22 numbers, which stood at Rs 1,435.65 crore. The company said that the loss has significantly gone up as compared to Q1 FY23 when it was Rs 1,064.26 crore mostly due to higher fuel prices and foreign exchange losses.
The company, in its filing, said that on a whole, IndiGo has recovered at a good pace, and has operated two quarters at full capacity. “Our capacity stands at 107 per cent in Q2 FY22-23 quarter, as compared to Q3 FY19-20. In comparison, the industry capacity recovery is at 85 per cent,” the company said in its filing on Friday.
IndiGo posted revenue from operations of Rs 12,497.58 crore in the September 2022 quarter, which is higher as compared to Rs 5,608.49 crore reported a year ago.