IndiGo reports ₹11,948 mn net loss, ₹4,085 mn EBITDAR for Q2 FY21

October 31, 2020: InterGlobe Aviation (IndiGo) reported its second-quarter fiscal year 2021 results with revenue from operations at ₹27,410 million for the quarter, a decrease of 66.2 percent against a 63.3 percent reduction in capacity compared to the same period last year.

The company reported ₹4,085 million EBITDAR with EBITDAR margin of 14.9 perecnt for the quarter, compared to ₹2,564 million EBITDAR with a margin of 3.2 percent for the same period last year. Loss before tax stood at ₹11,949 million, compared to a loss before tax of ₹10,318 million for the same period last year. While basic earnings per share was negative ₹31.05 for the quarter, it had a strong balance sheet with total cash of ₹179,318 million including free cash of ₹69,734 million

“Third quarter fiscal 2021 capacity in ASKs is expected to be around 60% of third-quarter fiscal 2020 capacity,” said the release.

Ronojoy Dutta, CEO, Indigo, said, “We are pleased that we are slowly but surely stair-stepping our way back to normal capacity. While we are very much focused on managing the crisis of the present, we are also reimagining the promise of the future. Once we are back at 100 percent capacity, we will have lower unit costs, a stronger product, a more efficient fleet and a robust network. We are impatient for the arrival of the future.”

Total income for the quarter ended September 2020 was ₹30,292 million, a decrease of 64.5 percent over the same period last year. For the quarter, our passenger ticket revenues were ₹22,082 million, a decrease of 68.9 percent and ancillary revenues were ₹5,066 million, a reduction of 45.5 percent compared to the same period last year.

Total expenses for the quarter ended September 2020 were ₹42,241 million, a decrease of 55.9 percent over the same quarter last year.

The airline has a fleet of 282 aircraft including 117 A320 CEOs, 116 A320 NEOs, 24 A321 NEOs and 25 ATRs; a net increase of 8 aircraft during the quarter.