The company’s revenue from operations, however, surged 292 per cent year-on-year to Rs 3,006.9 crore for the reported quarter. The surge in revenues was largely a result of more operational days for flight operators in the country during the quarter as against the year-ago period that was hit by national lockdown.
Despite the surge in revenues, the company reported a net loss due to a 59 per cent year-on-year jump in total expenses in the quarter to Rs 6,344 crore.
The civil airline company’s operations in the quarter were affected by the second wave of the pandemic as demand plummeted due to localized lockdowns and fear of transmission among customers.
Further, the surge in global crude oil prices weighed on the company’s margins as fuel cost jumped 854 per cent year-on-year to Rs 1,216 crore in the quarter.
The impact of the ongoing limitation on operations of the company were felt in the balance sheet with free cash declining 25 per cent on-year, while total debt soared nearly 35 per cent.
The airline’s loss before interest, tax, depreciation, amortization and rent costs narrowed on-year to Rs 1,360.2 crore in the quarter from Rs 1,421.2 crore. Operating margins also saw an improvement to negative 45.2 per cent from negative 185.4 per cent a year-ago.
While IndiGo saw a 433 per cent jump in average seat kilometers in the quarter, its revenue per average seat kilometer fell 35 per cent on-year reflecting lower ticket prices and demand.
IndiGo’s fleet rose to 277 aircrafts at the end of the June quarter from 274 a year-ago, but declined on a sequential basis.
Shares of InterGlobe Aviation ended 1.4 per cent lower at Rs 1,716 on the NSE.
