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    Indigo's Q2 consolidated net loss widens to Rs 1,031 while revenue rises 31% YoY

    Indigo's Q2 consolidated net loss widens to Rs 1,031 while revenue rises 31% YoY

    Indigo's Q2 consolidated net loss widens to Rs 1,031 while revenue rises 31% YoY
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    By Mousumi Paul   IST (Updated)

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    Interglobe Aviation for its July-September quarter reported a consolidated net loss of Rs 1,031 crore as compared to Rs 987 crore net loss last year.

    Interglobe Aviation for its July-September quarter reported a consolidated net loss of Rs 1,031 crore as compared to Rs 987 crore net loss last year.
    India's largest airline's consolidated revenue from operations rose 31 percent year-on-year (YoY) at Rs 8,105 as against Rs 6,185 crore in the corresponding quarter last year.
    EBITDAR (Earnings before interest, tax, depreciation, amortization and restructuring costs) rose 15.9 percent at Rs 256 crore versus Rs 221 crore in the same quarter last year.
    The airline's ASK (Available Seat per Kilometers) surged 24.2 percent to 24.2 from 19.5 last year.
    Passenger ticket revenues were at Rs 7,100 crore, an increase of34.4 percent and ancillary revenues were Rs 930 crore, an increase of 29.8 percent compared to the same period last year.
    As of 30th September 2019, IndiGo had a total cash balance of Rs 18,736 crore comprising of Rs 8,706 crore of free cash and Rs 10,029 crore of restricted cash.
    The Company's CEO, Ronojoy Dutta said, " While our revenue performance was much better during the quarter, the losses were accentuated by forex losses on operating lease liabilities created under IND AS 116, and re-assessment of accrual estimates for future maintenance cost."
    We remain focused on our growth plans and are expanding both domestically and internationally. We added 7 new domestic destinations and 6 new international destinations this past quarter and are looking to further grow our network profitably, added Dutta.
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