Business

IndiGo loss narrows from June quarter

Budget airline IndiGo on Thursday reported second-quarter net loss narrowed to ₹1,435 crore, from ₹3,174 crore in the April-June three-month period.

Revenue from operations grew 86.5% from the preceding quarter to ₹5,608 crore.

CEO Ronojoy Dutta said a fall in COVID-19 cases, increased pace of vaccination and relaxation of testing norms by various States for passengers arriving at airports had helped stimulate demand resulting in improved revenue.

These included reduction in COVID-19 cases in the country, increased pace of vaccination and relaxation of testing norms by various States governments for passengers arriving at their airports.

“We carried about 6.3 million passengers in the June quarter, which expanded to 11.2 million — an increase of 79%,” he said.

However, increase in input costs were a concern due to the rise in oil prices.

The airline had total cash balance of ₹16,553 crore, including Rs 6,351 crore free cash. Its total debt, including operating lease liabilities, stood at ₹32,225 crore.


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Printable version | Nov 30, 2021 12:29:11 AM | https://www.thehindu.com/business/indigo-loss-narrows-from-june-quarter/article37219978.ece

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