NEW DELHI: InterGlobe Aviation Limited — which operates IndiGo — the country’s biggest airline on Thursday reported a net loss of Rs 1,435.6 crore for the September quarter (Q2FY22), compared to a loss of Rs 1,194.80 crore in the corresponding quarter last year.
Sequentially, however, it witnessed a big improvement as the airline posted a loss of Rs 3,179 crore in the Covid-19-hit June-ended quarter.
The company’s profitability in the last quarter was significantly hit by rising fuel expenses. Interglobe’s aircraft fuel expenses in the quarter soared 207.8% year-on-year to Rs 1,989 crore.
The company also reported significant improvement on the revenue side, with revenue from operations in the second quarter of the current fiscal stood at Rs 5,608 crore, compared to Rs 2,741 crore in the same quarter last year.
IndiGo CEO Ronojoy Dutta said, “We are encouraged by the pace of revenue recovery. We continue to work towards return to profitability in order to strengthen our balance sheet. With a modern fleet, dedicated employees and a stronger economic environment, we are well positioned to leverage all the growth opportunities around us.”