Industry

IndiGo net loss widens on fuel, COVID impact

Low-cost carrier IndiGo on Tuesday reported a loss of ₹3,174 crore for the quarter ended June, wider than the ₹2,842-crore loss a year earlier. Total income almost tripled to ₹3,170 crore.

Passenger ticket revenue and ancillary revenue surged fourfold to ₹2,297 crore and ₹668 crore, respectively.

Total expenses climbed 59.2% to ₹6,344 crore.

“Fuel was a negative driver as, year-over-year, fuel price has doubled,” said CEO Ronojoy Dutta. “The second large factor was the severe impact that the COVID-19 second wave had on revenues in the quarter.” He highlighted the second wave impact by pointing out the dip in monthly revenue.

The figures came to ₹1,540 crore in April, ₹670 crore in May and ₹960 crore in June. The airline, however, expects revenue in July to recover to April levels.


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Printable version | Sep 26, 2021 1:02:40 PM | https://www.thehindu.com/business/Industry/indigo-net-loss-widens-on-fuel-covid-impact/article35571155.ece

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