India’s Biggest Airline Reports Net Loss Of Rs 620.1 Crore In December Quarter, Revenue Down 50% Due To COVID-Impact


2021-01-28 10:29:22

IndiGo Q3 Results: Airline Reports Net Loss Of Rs 620.1 Crore In December Quarter

IndiGo Q3 Results: Revenue from operations plunged 50.6 per cent to Rs 4,910 crore

IndiGo Q3 Results: Interglobe Aviation Limited, which operates the country’s biggest airline IndiGo, reported its fourth consecutive quarterly loss on Thursday, January 28, as the COVID-19 pandemic kept air travel well below normal levels. The company reported a net loss of Rs 620.1 crore in the October-December quarter, as compared to a profit of Rs 490 crore registered in the year-ago period. The revenue from operations declined 50.6 per cent to Rs 4,910 crore, according to the company’s regulatory filing on the BSE. (Also Read: IndiGo Posts Record Quarterly Loss Of ₹ 1,195 Crore On Pandemic Hit )

The quarterly result was an improvement from the previous two quarters when IndiGo had reported much bigger losses as the pandemic brought a halt to global travel. The country saw stronger levels of domestic travel during the festive season in October and November, according to analysts quoted in a Reuters report. IndiGo also benefited from lower fuel costs. The airline’s fuel expenses plunged nearly 66 per cent year-over-year in the quarter.

IndiGo said it expected its current-quarter average seat kilometers – a measure of passenger-carrying capacity – to be around 75 per cent-80 per cent of the capacity in the year-ago period.

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