Budget carrier Interglobe Aviation Limited (IndiGo) on Wednesday posted a widening of consolidated net loss at Rs 1,681 crore in the quarter ended 31 March, 2022 as compared to Rs 1141.98 crore recorded in the corresponding quarter of last year.
The aviation company had posted a net loss of Rs 1,159 crore in the year-ago period.
For the year ended March 2022, which was impacted first by 'Delta' wave and then by 'Omicron' wave, IndiGo reported a net loss of Rs 6,161.8 crore. Excluding foreign currency loss of Rs 940.8 crore, the net loss for the year aggregated to Rs 5,221 crore.
Total revenue rose 29 percent to Rs 8,020.7 crore against Rs 6,222.9 crore in the corresponding period of the preceding year.
Revenue from operations increased 28.8 percent to Rs 8,020.74 crore in the quarter from Rs 6,222.94 crore in the same quarter last fiscal, on strong traffic rebound in the latter half of the quarter.
InterGlobe Aviation CEO Ronojoy Dutta said in a statement: This quarter has been difficult because of the demand destruction caused by the Omicron virus in the first half. Although traffic rebounded and demand was robust during the latter half of the quarter, we were challenged by high fuel costs and a weakening rupee. We believe IndiGo is best positioned to maximise revenue in a recovering market. As we work to return the airline to profitability, we are focused on maintaining our cost leadership position and continuing to build the most efficient network in the region".
For the January-March quarter, the company's passenger ticket revenues stood at Rs 6,884.7 crore, an increase of 38.4 percent and ancillary revenues were Rs 1,058.3 crore, an increase of 18.8 percent compared to the same period last year.
Shares of InterGlobe Aviation closed Rs 40 down or (-2.38 percent) at Rs 1,642.50, on the BSE.
(With PTI inputs)
