InterGlobe Aviation, the parent of the country's largest airline IndiGo, on Thursday, posted a net loss of Rs 1,435.7 crore for the second quarter ended September 30, 2021.
In the corresponding quarter last year, the company posted a net loss of Rs 1,194.80 crore. CNBC-TV18 Poll had predicted a net loss of Rs 1,928 crore for the quarter under review.
The Gurgaon-based firm's revenue, however, grew 104.6 percent to Rs 5,608 crore in the September 2021 quarter as compared to Rs 2,741 crore in the year-ago period.
The airline had a total cash balance of Rs 16,553.9 crore, comprising Rs 6,351.6 crore of free cash.
The company said the third-quarter capacity in terms of ASKs (available seat km) is expected to increase around 40 percent against the second quarter. Passenger yield or average fare per passenger mile stood at Rs 4.19. In the year-ago quarter, it stood at Rs 3.83.
The airline reported an EBITDAR (earnings before interest, tax, depreciation, amortisation, and rent) at Rs 340.8 crore for the quarter under review, down 16.6 percent on a yearly basis from Rs 408.5 crore. EBITDA margin stood at 6.1 percent in Q2 as compared to 14.9 percent over the same period last year.
Ronojoy Dutta, the CEO, said, "We are encouraged by the pace of revenue recovery. We continue to work towards a 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."
The results came after the close of the market hours. Shares of InterGlobe Aviation ended at Rs 1,996.80, down by Rs 12,90, or 0.64 percent on the BSE.
(Edited by : Jomy Jos Pullokaran)
First Published: IST